IFSC Code of Suryoday Small Finance Bank Limited, New Palasia Branch, Madhya Pradesh

Use this page as a one-stop reference for everything related to Suryoday Small Finance Bank Limited's NEW PALASIA branch in INDORE, MADHYA PRADESH. The branch's IFSC code SURY0000019 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.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Suryoday Small Finance Bank Limited's NEW PALASIA branch, the IFSC SURY0000019 breaks down as follows: SURY identifies the bank, 0 is the reserved character, and 000019 identifies this particular branch.

About Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited operates a wide network of branches across India, including the New Palasia branch in Indore. 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, SURY0000019.

New Palasia branch overview

Located at GROUND FLOOR,PLOT NUMBER 4,SCHEME NUMBER 117,NEW PALASIA,56 DUKAN,INDORE, the New Palasia branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC SURY0000019 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

Why every Suryoday Small Finance Bank Limited 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 NEW PALASIA of Suryoday Small Finance Bank Limited — its own 11-character IFSC. The code SURY0000019 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 SURY0000019 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 Suryoday Small Finance Bank Limited carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC SURY0000019 and the account number together uniquely identify the New Palasia branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC SURY0000019

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 SURY0000019 across all three.

How to use IFSC SURY0000019 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Suryoday Small Finance Bank Limited's NEW PALASIA 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 SURY0000019.
4. Confirm the bank name auto-populates as Suryoday Small Finance Bank Limited and the branch as NEW PALASIA.
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 SURY0000019

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 Suryoday Small Finance Bank Limited – NEW PALASIA, ensure your bank's portal accepts IFSC SURY0000019 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Suryoday Small Finance Bank Limited NEW PALASIA (IFSC SURY0000019)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC SURY0000019 in your mobile or internet banking app, and the money is credited to the NEW PALASIA branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to New Palasia

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 SURY0000019:

• 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 NEW PALASIA is still linked to IFSC SURY0000019.

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 Suryoday Small Finance Bank Limited's NEW PALASIA branch, the IFSC SURY0000019 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.

Account types you can open at the New Palasia branch

Once you have an account at Suryoday Small Finance Bank Limited – NEW PALASIA, the IFSC SURY0000019 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 New Palasia branch can access most of Suryoday Small Finance Bank Limited'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 SURY0000019

Online banking and IFSC SURY0000019

Suryoday Small Finance Bank Limited customers can register for net banking and the bank's official mobile app once their account at the NEW PALASIA branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC SURY0000019 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.

Reaching the branch

The New Palasia branch sits at GROUND FLOOR,PLOT NUMBER 4,SCHEME NUMBER 117,NEW PALASIA,56 DUKAN,INDORE. If you are travelling from outside Indore, search for the branch on a maps application using the bank name and locality, or call the branch contact number 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 SURY0000019 and your account number.

Common mistakes to avoid when using IFSC SURY0000019

An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Suryoday Small Finance Bank Limited – NEW PALASIA, double-check for these issues:

• Confusing 0 with O. The fifth character of every IFSC is the digit 0, not the letter O. Read carefully.
• Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters: SURY0000019.
• Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
• Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
• Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.

Working hours

Branch counters at New Palasia 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 SURY0000019 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC SURY0000019 for Suryoday Small Finance Bank Limited – NEW PALASIA, 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

Summary

The IFSC code SURY0000019 belongs to Suryoday Small Finance Bank Limited's NEW PALASIA branch, located at GROUND FLOOR,PLOT NUMBER 4,SCHEME NUMBER 117,NEW PALASIA,56 DUKAN,INDORE in INDORE, MADHYA PRADESH. 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.