Indian Overseas Bank IFSC Code Search

IFSC Code is structured in such a way that the initial four digits indicate the bank, the fifth digit is zero and the last six characters indicate the branch.

Bank Name				Zero	Branch
I	O	B	A	0	0	0	0	5	3	7

For example - 

IOBA0000537 is the IFSC code of Borim Branch, Goa wherein “IOBA” indicates the Bank, the next character is zero and the last six digits “00537” represent the branch that is Borim.

Some more examples are- 

IOBA0003304 is the IFSC Code of Jol Branch, Gujarat

IOBA0001630 is the IFSC of Ambala City, Haryana

IFSC is an important parameter for online banking as it

1. Enables NEFT/RTFS/IMPS payments
2. Helps in identifying various Indian Overseas Bank Branches
3. Helps RBI to keep trackof all the transactions made within the country
4. Helps to transfer funds in an error-free manner

While transferring money from one account to another IFSC plays a significant role and there are different methods to transfer funds using the IFSC code. Let us take a look at some of the payment systems:

NEFT(National Electronic Fund Transfer)

1. NEFT is a nation-wide electronic payment system developed by the RBI to facilitate the transfer of funds
2. Indian Overseas Bank’s customer can transfer funds by logging into the  Indian Overseas Bank netbanking portal or the mobile banking application
3. One needs to provide the name, account number and the IFSC code of both the remitter and the beneficiary to carry out NEFT transactions

RTGS (Real Time Gross Settlement)

1. RTGS is a fund transfer system introduced by the RBI wherein the funds are transferred in real-time and on a gross basis
2. Indian Overseas Bank’s customer can transfer funds by logging into the  Indian Overseas Bank netbanking portal or the mobile banking application
3. Customers need to provide the name, account number and the IFSC code of both the remitter and the beneficiary to carry out RTGS transactions

IMPS (Immediate Payment System)

1. IMPS is an instant fund transfer system that works 24*7 throughout the year
2. This service was introduced National Payments Corporation of India in the year 2010
3. There is no need to register separately for IMPS, simply login into the netbanking portal or the mobile banking app of the Indian Overseas Bank and carry out IMPS transactions

Paisabazaar is one such website through which customers can find IFSC and MICR codes of all the banks and their branches. Follow the below-mentioned steps to do so -

Step1. Visit the Paisabazaar Website and then open the IFSC tool locator page

Step2. On IFSC tool locator page, select the bank name as “Indian Overseas Bank”

Step3. In the next step select the city, state and the branch from the drop-down

Step4. The tool will display the IFSC and MICR Code of the selected branch

The Reserve Bank of India is the regulatory body of all the banking institutions in India. Hence it contains the list of IFSC and MICR codes of all the branches of Indian Overseas Bank.

Apart from Paisabazaar IFSC tool locator and the RBI website one can find the Indian Overseas Bank IFSC Code on the following platforms -

1. Indian Overseas Bank Cheque Book
   • Cheque Book is a folder issued by the bank that contains pre-printed papers with customer’s account checking information.
   • On a checkbook, IFSC is printed at the top whereas MICR Code is printed at the bottom
2. Indian Overseas Bank Passbook
   • Passbook contains the record of banking transactions of a customer.
   • One can look for the IFSC and the MICR code in the passbook provided by the Indian Overseas Bank
3. Indian Overseas Bank Netbanking/Mobile app
   • Customers need to register for Indian Overseas Bank netbanking or the mobile banking apps to avail banking services through them which includes looking for the IFSC and MICR codes

1. Indian Overseas Bank MICR Code is a 9-digit code initiated to make cheque processing simpler and faster.
2. Indian Overseas Bank MICR Code Structure
   • MICR Code is formed in such a way that the first 3 digits show the name of the city, the next 3 digits show code of the bank and the last 3 digits show the branch name.

Examples of MICR Code

133020003 is the MICR Code of Ambala City, Haryana

Where to find Indian Overseas Bank MICR Code?

One can find the MICR Code on the following platforms

• Indian Overseas Bank Cheque Book: One can find the Indian Overseas Bank MICR printed on cheque leaf
• Indian Overseas Bank Passbook: MICR of Indian Overseas Bank is also mentioned on the Pass Book provided by the bank
• Indian Overseas Bank Netbanking: One can login into the Indian Overseas Bank netbanking account and look for the required MICR code
• Indian Overseas Bank Mobile Banking: Indian Overseas Bank mobile banking is another platform that can be used to get the MICR code of the bank

1. SWIFT Code or SWIFT Number is a code developed by ISO and is used for international fund transfer
2. The code contains 8-11 digits and is used to identify financial institution outside India
3. Customers need to get in touch with the Indian Overseas Bank Customer Care to get the SWIFT Code

Here are a few differences between Indian Overseas Bank IFSC, MICR & SWIFT Code?

IFSC Code

1. It is a 9-digit alphanumeric code that facilities fund transfer between various banks
2. It is developed by the Reserve Bank of India for routing the money to the right bank branch during the fund transfer process
3. It is used for fund transfer by various payment systems across the country

MICR Code

1. It is a 9-digit number initiated to make cheque processing simpler and faster
2. This code is used across the country and is found on the cheque book, passbook provided by the bank. One can also use Paisabazaar IFSC Code tool locator and the RBI website to look for the same

SWIFT Code

1. SWIFT Code is composed of 8-11 digits is used to identify financial institution outside India
2. SWIFT codes have been developed by ISO
3. SWIFT codes are specifically used for international money transfer