Bank Of India Palasia IFSC Code, Indore, Madhya-pradesh

BOI IFSC code: All you need to know

BOI IFSC code is a unique 11-character alphanumeric code that helps in identifying specific branches of the bank. IFSC Code of BOI is used by BOI account holders to send/transfer money online through NEFT/RTGS/IMPS facilities. BOI customers are also required to provide IFSC code of their BOI branch. BOI account holders can search BOI IFSC code of their branch on this IFSC code search page of financialexpress.com. Here,

BOI IFSC code: All you need to know

BOI IFSC code is a unique 11-character alphanumeric code that helps in identifying specific branches of the bank. IFSC Code of BOI is used by BOI account holders to send/transfer money online through NEFT/RTGS/IMPS facilities. BOI customers are also required to provide IFSC code of their BOI branch. BOI account holders can search BOI IFSC code of their branch on this IFSC code search page of financialexpress.com. Here, you can search Bank of India IFSC code by providing inputs like your state, city and branch on top of this page under “BOI IFSC Code”. On this page, you can also find IFSC code of some of the top search branches of BOI. You can also find BOI branch details and address with the help your IFSC code by using the ‘Search IFSC Code by Bank’ feature on this page.

The full form of IFSC is Indian Financial System Code. The Reserve Bank of India has assigned this unique code for each branch of BOI. The IFSC code enables the electronic transfer of funds. Now BOI customers can transfer funds online 24×7 throughout the year, as per RBI guidelines.  

BOI IFSC Code for Online Transaction

BOI IFSC code helps on making an online transaction. With the help of IFSC Code, you can send money to any account of the BOI and also receive money from any account of BOI. BOI IFSC code is also required to send/transfer money through NEFT facility from a BOI branch. There are certain limits on the amount that you can transact through BOI account online. Hence, you must check the maximum and minimum limit on the amount for which you can make a transaction online. This information is available on the official website of the BOI. 

Bank of India IFSC code is a must for online transactions. Suppose you have borrowed Rs 10,000 from a friend and want to return it using your net banking facility. To send the money, you need to first add your friend’s details like account number, bank and branch name and address and IFSC code of your friend’s bank branch. You can send money through net banking 24×7 to your friend, even if he/she doesn’t have an account in BOI. You will have to add your friend as a beneficiary with his bank account details on your bank’s net banking portal. 

BOI IFSC Code format

The first four characters of BOI IFSC code denotes the bank names while the fifth character is zero. The remaining six characters of the IFSC code of BOI are unique and assigned for each branch of the BOI. Thus there are three components of Bank of India IFSC code. 

1. Bank name denoted by first four characters of the BOI IFSC code

2. Zero as the fifth character. Zero is used as the fifth character of the BOI IFSC code is reserved for future use by the Reserve Bank of India. 

3. The last six characters show the unique BOI branch code. No two branches of BOI can have same IFSC codes. 

How to find BOI IFSC code

You can find the IFSC code of your Bank of India branch on the cheque book issued by the BOI. You can also find IFSC code of any branch of BOI on Financial Express IFSC code page.