IFSC Code of State Bank of India, State Bank Institute of Learning and Development Branch, Goa

Use this page as a one-stop reference for everything related to State Bank of India's STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch in PANAJI, GOA. The branch's IFSC code SBIN0008587 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.

The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.

The IFSC for State Bank of India – STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT is SBIN0008587. The first four letters SBIN are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 008587 map to this branch in PANAJI, GOA.

Branch details at a glance

About State Bank of India

State Bank of India operates a wide network of branches across India, including the State Bank Institute of Learning and Development branch in Panaji. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, SBIN0008587.

About the State Bank Institute of Learning and Development branch

The State Bank Institute of Learning and Development branch of State Bank of India is situated at EDC PLOT NO 25.A, PATTO PLAZA, PANAJI, GOA. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code SBIN0008587 is used.

The role of IFSC in India's payments network

India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how State Bank of India's STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch came to be assigned the code SBIN0008587.

Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC SBIN0008587, money simply cannot be routed to the STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch electronically.

How to transfer money using IFSC SBIN0008587

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 SBIN0008587 across all three.

How to use IFSC SBIN0008587 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to State Bank of India's STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC SBIN0008587.
4. Confirm the bank name auto-populates as State Bank of India and the branch as STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC SBIN0008587

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 – STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT, ensure your bank's portal accepts IFSC SBIN0008587 while registering the beneficiary. RTGS is also available 24x7.

IMPS to State Bank of India STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT (IFSC SBIN0008587)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC SBIN0008587 in your mobile or internet banking app, and the money is credited to the STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC SBIN0008587 for State Bank of India – STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.

For most retail customers crediting the State Bank Institute of Learning and Development branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.

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 STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch, the IFSC SBIN0008587 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.

Products and account variants supported

Every account opened at the State Bank Institute of Learning and Development branch is mapped to IFSC SBIN0008587 on the RBI payments network. The branch generally supports the full retail product catalogue of State Bank of India, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains SBIN0008587.

Banking services available

The State Bank Institute of Learning and Development branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 8806668817.

• Savings, current and salary accounts
• Fixed deposits and recurring deposits
• Personal, vehicle and home loans
• Demat and investment products (where supported)
• Internet banking and mobile banking enrolment
• Debit and credit card issuance
• Locker facilities (subject to availability)
• Foreign exchange services (at authorised branches)
• Bill payments, demand drafts and pay orders
• NEFT / RTGS / IMPS / UPI fund transfers using IFSC SBIN0008587

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 SBIN0008587 and the account number together uniquely identify the State Bank Institute of Learning and Development branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the State Bank Institute of Learning and Development 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 SBIN0008587 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.

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 – STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT:

• The IFSC is exactly SBIN0008587 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 STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT 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 State Bank Institute of Learning and Development branch sits at EDC PLOT NO 25.A, PATTO PLAZA, PANAJI, GOA. If you are travelling from outside Panaji, search for the branch on a maps application using the bank name and locality, or call 8806668817 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 SBIN0008587 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC SBIN0008587 for State Bank of India – STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Working hours

Branch counters at State Bank Institute of Learning and Development are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to SBIN0008587 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0008587 belongs to State Bank of India's STATE BANK INSTITUTE OF LEARNING AND DEVELOPMENT branch, located at EDC PLOT NO 25.A, PATTO PLAZA, PANAJI, GOA in PANAJI, GOA. 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.