SWIFT/BIC codes in India: banks starting with T

Bank SWIFT codes for India

In India we have 4272 SWIFT/BIC codes. You need a SWIFT/BIC code mostly when making payments across borders, and especially for payments in foreign currencies.

Each bank has its own page showing its main code and, where available, codes for branches and departments. The sections below covers the structure of the codes, the cost of transfers and how to avoid mistakes before you send money.

Paying in INR: what conversion costs you

The national currency in India is the Indian Rupee (INR). If you send money in a different currency, it has to be converted at some point: by your bank, an intermediary or the receiving bank.

Who does the conversion has an effect on the final amount. Compare how much INR the recipient gets via different providers. On larger amounts, a seemingly small difference in the rate adds up quickly.

State Bank of India and its SWIFT codes

State Bank of India leads our list for India in the number of SWIFT/BIC codes. Its main office has SBININBBXXX and that code covers most payments.

Banks differ in how many codes they register, so the count is not a ranking of size. Paying someone at State Bank of India? Use SBININBBXXX except when a specific branch code is requested.

Tracking a payment to India

A SWIFT payment to India typically takes one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in either country can add a day or more, because banks do not process payments on those days.

When a payment takes longer than expected, the sender should contact their own bank and ask for the status or the UETR. Keep the payment confirmation.

What a transfer to India really costs

A bank transfer to India often costs rather more than the fee suggests. Besides a fixed fee, intermediary banks can take a cut and, if currencies are converted, the bank often applies a less favourable rate than the actual market rate.

The real cost is often in the rate, not in the fee – the bank builds a margin into its rate. An easy check: set the rate you get against the mid-market rate and work out the difference on your amount.

Specialist money transfer services frequently offer rates closer to the mid-market rate with clearer fees. GoldexPay lists transfer services side by side, showing the amount that reaches the recipient for the same amount sent.

What the letters in a India BIC mean

Each SWIFT/BIC code consists of 8 or 11 characters, always in the same order. The first four letters identify the bank, the fifth and sixth characters are the country code and characters seven and eight mark the location.

For banks in India, letters five and six are the ISO country code of India – that is the quickest way to spot one. When the country letters do not match India, you are looking at a bank in another country, so check again.

The last three characters, if present, identify a specific branch; XXX is used for the head office. Use a branch code just when the recipient explicitly gives you one – otherwise stick with the head office.

Receiving money in India from abroad

When you are waiting for a payment from another country in India, send the payer a complete set of details. Share the account holder’s name, the IBAN or account number, the BIC of your bank and your address.

Your bank’s code appears in our list. Certain banks may also want your bank’s address; it does no harm to include it.

What lands in your account is often lower than what was sent. Fees for incoming transfers differ from bank to bank; check the price list of your bank. For business payments, state who bears the costs to avoid a shortfall.

Banks in India starting with :letter

This filter limits the list to banks in India starting with :letter, so you can find a bank faster. The totals on this page cover every bank we list.

Cannot find the bank? The registered name may begin with another word – think of the full legal name instead of the brand. Try the full list for India when you do not know how the name is spelled.

Check the code before you pay

The safest source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. When the code you were given differs from the code listed here, stop and ask – contact the recipient or their bank.

This list is compiled from publicly available sources. Even so, banks merge, rename themselves or retire codes. For any payment of any size, confirm the BIC with the recipient’s bank. We are a comparison service for money transfers, not a bank.

Watch out for invoices containing a new account, especially when they come by email. Before paying, confirm changed details through a separate channel.

Why a transfer to India needs a SWIFT code

Because India is outside SEPA, an international payment normally goes through SWIFT. This means you always need the BIC of the recipient’s bank.

Not every country uses the IBAN; in that case the local account number is used instead. Check with the recipient which details their bank requires for payments from abroad. Before it arrives, a payment can pass through correspondent banks that charge for their part.