IFSC Code of Union Bank of India, Zaveri Bazar - Mumbai Branch, Maharashtra

Below are the complete branch details for Union Bank of India, ZAVERI BAZAR - MUMBAI branch, located in MUMBAI, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is UBIN0531987. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case UBIN0531987 for Union Bank of India – ZAVERI BAZAR - MUMBAI — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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 Union Bank of India's ZAVERI BAZAR - MUMBAI branch, the IFSC UBIN0531987 breaks down as follows: UBIN identifies the bank, 0 is the reserved character, and 531987 identifies this particular branch.

About Union Bank of India

Union Bank of India operates a wide network of branches across India, including the Zaveri Bazar - Mumbai branch in Mumbai. 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, UBIN0531987.

Zaveri Bazar - Mumbai branch overview

Located at 1ST FLOOR, VENKATESH BHAVAN,MIRZA STREET,MUMBAI - 400 003., the Zaveri Bazar - Mumbai branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC UBIN0531987 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

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 Union Bank of India's ZAVERI BAZAR - MUMBAI branch came to be assigned the code UBIN0531987.

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 UBIN0531987, money simply cannot be routed to the ZAVERI BAZAR - MUMBAI branch electronically.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Union 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 UBIN0531987 and the account number together uniquely identify the Zaveri Bazar - Mumbai branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC UBIN0531987

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 UBIN0531987 across all three.

How to use IFSC UBIN0531987 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Union Bank of India's ZAVERI BAZAR - MUMBAI 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 UBIN0531987.
4. Confirm the bank name auto-populates as Union Bank of India and the branch as ZAVERI BAZAR - MUMBAI.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

Real-Time Gross Settlement to ZAVERI BAZAR - MUMBAI

If you need to transfer ₹2 lakh or more in one go to an account at Union Bank of India's ZAVERI BAZAR - MUMBAI branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UBIN0531987 while initiating the transfer and the credit will appear within minutes.

IMPS to Union Bank of India ZAVERI BAZAR - MUMBAI (IFSC UBIN0531987)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UBIN0531987 in your mobile or internet banking app, and the money is credited to the ZAVERI BAZAR - MUMBAI branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Zaveri Bazar - Mumbai

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 UBIN0531987:

• 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 ZAVERI BAZAR - MUMBAI is still linked to IFSC UBIN0531987.

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 Union Bank of India's ZAVERI BAZAR - MUMBAI branch, the IFSC UBIN0531987 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 Zaveri Bazar - Mumbai branch

Once you have an account at Union Bank of India – ZAVERI BAZAR - MUMBAI, the IFSC UBIN0531987 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.

Banking services available

The Zaveri Bazar - Mumbai branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on the branch contact number.

• 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 UBIN0531987

Online banking and IFSC UBIN0531987

Union Bank of India customers can register for net banking and the bank's official mobile app once their account at the ZAVERI BAZAR - MUMBAI 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 UBIN0531987 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.

How to reach the Zaveri Bazar - Mumbai branch

The branch is located at 1ST FLOOR, VENKATESH BHAVAN,MIRZA STREET,MUMBAI - 400 003., which puts it inside Mumbai, the broader Greater Bombay district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Union Bank of India Zaveri Bazar - Mumbai branch” — the verified location pin for IFSC UBIN0531987 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 UBIN0531987 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 Union Bank of India – ZAVERI BAZAR - MUMBAI:

• The IFSC is exactly UBIN0531987 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Union Bank of India as the bank name and ZAVERI BAZAR - MUMBAI 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 Zaveri Bazar - Mumbai 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 UBIN0531987 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC UBIN0531987 for Union Bank of India – ZAVERI BAZAR - MUMBAI, 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: UBIN0531987 is the IFSC code of Union Bank of India, ZAVERI BAZAR - MUMBAI branch, in MUMBAI, MAHARASHTRA. 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.