The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Chandigarh branch in Chandigarh, Chandigarh, Chandigarh, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Bank Of India located in Chandigarh or anywhere in Chandigarh can transfer funds instantly by using the correct IFSC Code BKID0006200. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Chandigarh, Chandigarh
The table below shows the main details of the IFSC Code BKID0006200 for the Bank Of India branch in Chandigarh, which falls under the Chandigarh district in Chandigarh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0006200 |
| Branch | Chandigarh |
| City | Chandigarh |
| District | Chandigarh |
| State | Chandigarh |
| Address | Bank Square Sector 17 Bchandigarh |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Chandigarh for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0006200 for the Chandigarh branch of Bank Of India has an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Chandigarh, Chandigarh, Chandigarh, is provided a unique IFSC like BKID0006200 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Chandigarh.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Chandigarh and Chandigarh.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Chandigarh and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Chandigarh do not get misguided to another person.
Format of the IFSC Code BKID0006200
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Chandigarh in Chandigarh.
For example, the IFSC Code BKID0006200 of Bank Of India for the Chandigarh branch has these elements, identifying the bank and the branch location in Chandigarh and Chandigarh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0006200 of Bank Of India for its Chandigarh branch located in Chandigarh, the following methods can help you out:
Cheque Book
The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Chandigarh and Chandigarh, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and go to the branch locator section. Then search for Chandigarh or Chandigarh to find the exact IFSC Code BKID0006200.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes. Searching for Bank Of India and Chandigarh will provide accurate information.
How to Use IFSC Code BKID0006200 for Online Transfers?
Once you have the IFSC Code BKID0006200 for the Chandigarh branch of Bank Of India in Chandigarh, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0006200. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Bank Of India IFSC Code BKID0006200.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Chandigarh in Chandigarh, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Bank Of India in Chandigarh, here are some ways that you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Chandigarh manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Chandigarh Chandigarh branch is BKID0006200.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Bank Square Sector 17 Bchandigarh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.