IFSC Code of State Bank of India, Bandamunda Branch, Odisha

Use this page as a one-stop reference for everything related to State Bank of India's BANDAMUNDA branch in RAURKELA, ODISHA. The branch's IFSC code SBIN0011577 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 – BANDAMUNDA is SBIN0011577. The first four letters SBIN are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 011577 map to this branch in RAURKELA, ODISHA.

Bank profile

State Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The Bandamunda branch — IFSC SBIN0011577 — extends the bank's services to customers in and around Raurkela, Odisha.

Bandamunda branch overview

Located at ATCINEMATOLI DUMERTA,POBANDAMUNDA,BANDAMUNDA,ORISSA 770032, the Bandamunda branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC SBIN0011577 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

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 BANDAMUNDA of State Bank of India — its own 11-character IFSC. The code SBIN0011577 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 SBIN0011577 the same way you would treat your account number — verify it once and save it carefully for future use.

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 SBIN0011577 and the account number together uniquely identify the Bandamunda branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC SBIN0011577

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 SBIN0011577 across all three.

How to use IFSC SBIN0011577 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to State Bank of India's BANDAMUNDA 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 SBIN0011577.
4. Confirm the bank name auto-populates as State Bank of India and the branch as BANDAMUNDA.
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 SBIN0011577

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 – BANDAMUNDA, ensure your bank's portal accepts IFSC SBIN0011577 while registering the beneficiary. RTGS is also available 24x7.

IMPS to State Bank of India BANDAMUNDA (IFSC SBIN0011577)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC SBIN0011577 in your mobile or internet banking app, and the money is credited to the BANDAMUNDA branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Bandamunda

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 SBIN0011577:

• 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 BANDAMUNDA is still linked to IFSC SBIN0011577.

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 BANDAMUNDA branch, the IFSC SBIN0011577 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 Bandamunda branch is mapped to IFSC SBIN0011577 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 SBIN0011577.

Products and services

Customers walking into the Bandamunda 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 SBIN0011577

Digital banking channels

Most day-to-day work that customers used to do at the Bandamunda 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 SBIN0011577 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.

How to reach the Bandamunda branch

The branch is located at ATCINEMATOLI DUMERTA,POBANDAMUNDA,BANDAMUNDA,ORISSA 770032, which puts it inside Raurkela, the broader Surendranagar district, and the state of Odisha. To plan your visit:

1. Open Google Maps on your phone and search for “State Bank of India Bandamunda branch” — the verified location pin for IFSC SBIN0011577 should appear at the top of the results.
2. Confirm the branch is open by calling the branch contact number before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC SBIN0011577 and your account number.

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 – BANDAMUNDA:

• The IFSC is exactly SBIN0011577 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 BANDAMUNDA 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.

Working hours

Branch counters at Bandamunda 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 SBIN0011577 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC SBIN0011577 for State Bank of India – BANDAMUNDA, 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.

Branch address & contact

Frequently asked questions

Final notes

To recap: SBIN0011577 is the IFSC code of State Bank of India, BANDAMUNDA branch, in RAURKELA, ODISHA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.