Indian Overseas Bank IFSC code: All you need to know
Indian Overseas Bank IFSC code is a unique 11-character alphanumeric code that helps in identifying specific branches of the bank. IFSC Code of Indian Overseas Bank is used by Indian Overseas Bank account holders to send/transfer money online through NEFT/RTGS/IMPS facilities. Indian Overseas Bank customers are also required to provide IFSC code of their Indian Overseas Bank branch. Indian Overseas Bank account holders can search Indian Overseas Bank IFSC code of their branch on this IFSC code search page of financialexpress.com. Here, you can search Indian Overseas Bank IFSC code by providing inputs like your state, city and branch on top of this page under “Indian Overseas Bank IFSC Code”. On this page, you can also find IFSC code of some of the top search branches of Indian Overseas Bank. You can also find Indian Overseas Bank 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 Indian Overseas Bank has assigned this unique code for each branch of Indian Overseas Bank. The IFSC code enables the electronic transfer of funds. Now Indian Overseas Bank customers can transfer funds online 24×7 throughout the year, as per RBI guidelines.
Indian Overseas Bank IFSC Code for Online Transaction
Indian Overseas Bank IFSC code helps on making an online transaction. With the help of IFSC Code, you can send money to any account of the Indian Overseas Bank and also receive money from any account of Indian Overseas Bank. IOB IFSC code is also required to send/transfer money through NEFT facility from a Indian Overseas Bank branch. There are certain limits on the amount that you can transact through Indian Overseas Bank 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 Indian Overseas Bank.
Indian Overseas Bank 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 Indian Overseas Bank. You will have to add your friend as a beneficiary with his bank account details on your bank’s net banking portal.
Indian Overseas Bank IFSC Code format
The first four characters of Indian Overseas Bank IFSC code denotes the bank names while the fifth character is zero. The remaining six characters of the IFSC code of Indian Overseas Bank are unique and assigned for each branch of the Indian Overseas Bank. Thus there are three components of Indian Overseas Bank IFSC code.
1. Bank name denoted by first four characters of the Indian Overseas Bank IFSC code
2. Zero as the fifth character. Zero is used as the fifth character of the Indian Overseas Bank IFSC code is reserved for future use by the Reserve Indian Overseas Bank.
3. The last six characters show the unique Indian Overseas Bank branch code. No two branches of Indian Overseas Bank can have same IFSC codes.
How to find Indian Overseas Bank IFSC code
You can find the IFSC code of your IOB branch on the cheque book issued by the Indian Overseas Bank. You can also find IFSC code of any branch of Indian Overseas Bank Bank on Financial Express IFSC code page.
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