IFSC Code of State Bank of India, Olavakode Branch, Kerala

Use this page as a one-stop reference for everything related to State Bank of India's OLAVAKODE branch in PALAKKAD, KERALA. The branch's IFSC code SBIN0071093 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.

In our case, SBIN0071093 is the IFSC of State Bank of India's OLAVAKODE branch. The format is fixed: SBIN = bank code, 0 = reserved, 071093 = branch identifier.

About the bank

State Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Olavakode branch in Palakkad, Kerala is part of this network and uses the IFSC code SBIN0071093 for all electronic settlement.

Branch details at a glance

About this branch

The branch is located at VALLAPUZHACOMPLEXNEARSROOLAVAKODE,PALAKKAD678002PH0491-2510773678002OLAVAKKODATSBTCOIN. It serves the Palakkad region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of State Bank of India. The IFSC SBIN0071093 is used to identify this branch on the RBI payments network.

Why every State Bank of India branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including OLAVAKODE of State Bank of India — its own 11-character IFSC. The code SBIN0071093 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC SBIN0071093 the same way you would treat your account number — verify it once and save it carefully for future use.

Account types you can open at the Olavakode branch

Once you have an account at State Bank of India – OLAVAKODE, the IFSC SBIN0071093 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Olavakode branch can access most of State Bank of India's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC SBIN0071093

How to transfer money using IFSC SBIN0071093

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC SBIN0071093 across all three.

NEFT to State Bank of India, OLAVAKODE using IFSC SBIN0071093

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC SBIN0071093, and confirm that the system picks up State Bank of India – OLAVAKODE. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC SBIN0071093

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to State Bank of India – OLAVAKODE, ensure your bank's portal accepts IFSC SBIN0071093 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to State Bank of India – OLAVAKODE, use IMPS. With IFSC SBIN0071093 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

Comparing NEFT, RTGS and IMPS for transfers to Olavakode

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC SBIN0071093:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at OLAVAKODE is still linked to IFSC SBIN0071093.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at State Bank of India's OLAVAKODE branch, the IFSC SBIN0071093 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Digital banking channels

Most day-to-day work that customers used to do at the Olavakode branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC SBIN0071093 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by State Bank of India carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC SBIN0071093 and the account number together uniquely identify the Olavakode branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to State Bank of India – OLAVAKODE:

• The IFSC is exactly SBIN0071093 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills State Bank of India as the bank name and OLAVAKODE as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

Reaching the branch

The Olavakode branch sits at VALLAPUZHACOMPLEXNEARSROOLAVAKODE,PALAKKAD678002PH0491-2510773678002OLAVAKKODATSBTCOIN. If you are travelling from outside Palakkad, search for the branch on a maps application using the bank name and locality, or call 491-2510773 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC SBIN0071093 and your account number.

Verifying IFSC SBIN0071093 from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm SBIN0071093 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 491-2510773.
• Visiting the bank's official branch locator page.

Branch banking hours and holidays

Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Olavakode branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC SBIN0071093, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0071093 belongs to State Bank of India's OLAVAKODE branch, located at VALLAPUZHACOMPLEXNEARSROOLAVAKODE,PALAKKAD678002PH0491-2510773678002OLAVAKKODAT… in PALAKKAD, KERALA. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.