The IFSC code of State Bank of Hyderabad will start from SBHY0******. The first four characters will give you the name of the bank. The fifth character is a zero while the last six characters represent the name of the branch. It is a unique code for every bank’s branch. It is used for making online purchases and fund transfer. If you use net banking facility to transfer funds online, you will need the IFSC code of the beneficiary account. If you are buying mutual funds and insurance online, you will need to provide your IFSC code.
Where can I get the IFSC code? You can get the IFSC code using the IFSC code locator tool available on the Paisabazaar.com’s website. You can select the bank name, state, city and the branch name and the tool will give you the IFSC code along with the full branch address.
NEFT, RTGS or IMPS? We all use online money transfer facilities such as national electronic fund transfer (NEFT), Real time gross settlement (RTGS) and immediate payment services (IMPS). NEFT is the most popular money transfer facility as it has no minimum transfer limit. Under NEFT the money transfer happens with a time lag while both RTGS and IMPS are instant money transfer facilities where money is transferred to beneficiary account instantly.
About State Bank Of Hyderabad
Erstwhile known as Hyderabad State Bank, it was incorporated in 1941 under Hyderabad state bank act 1941. The first branch of the bank was opened in Gunfoundary, Hyderabad in April 1942. Now the bank falls in the Telangana region of Andhra Pradesh. In 1953, it acquired Hyderabad Mercantile Bank Ltd. In 1956, the bank was taken over by Reserve Bank of India as its first subsidiary and it was renamed as State Bank of Hyderabad from Hyderabad State Bank.
