Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Arumbakkam branch in Chennai, Arumbakkam, or Tamil Nadu, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Chennai or anywhere in Tamil Nadu can transfer funds instantly by using the correct IFSC Code BKID0008040. You should definitely know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Arumbakkam, Chennai
The table below shows the main details of the IFSC Code BKID0008040 for the Bank Of India branch in Chennai, which falls under the Arumbakkam district in Tamil Nadu.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0008040 |
| Branch | Arumbakkam |
| City | Chennai |
| District | Arumbakkam |
| State | Tamil Nadu |
| Address | Plot No Pc 37 Razack Garden Main Roadmmda Colony Arumbakkam Chennai |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Chennai for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0008040 for the Arumbakkam branch of Bank Of India plays a vital role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Arumbakkam, Chennai, Tamil Nadu, are allotted a unique IFSC like BKID0008040 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Chennai.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Chennai and Arumbakkam.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Arumbakkam reaches the right place, even though there are thousands of branches in Tamil Nadu and across India.
Format of the IFSC Code BKID0008040
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): Show the bank code. For Bank Of India, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Arumbakkam in Chennai.
For example, the IFSC Code BKID0008040 of Bank Of India for the Arumbakkam branch includes these elements, identifying the bank and the branch location in Chennai and Tamil Nadu accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0008040 of Bank Of India for its Arumbakkam branch located in Chennai, the following methods can help:
Cheque Book
The cheque books that are issued by Bank Of India include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Chennai and Arumbakkam, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and find the branch locator section. Search for Arumbakkam or Chennai to get the exact IFSC Code BKID0008040.
Mobile Banking App
If you use Bank Of India's mobile app, you can easily 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 to help you in searching for Bank Of India and Chennai that will provide accurate information.
How to Use IFSC Code BKID0008040 for Online Transfers?
Once you have the IFSC Code BKID0008040 for the Arumbakkam branch of Bank Of India in Chennai, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0008040. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.
RTGS
Used for high-value payments above ₹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 BKID0008040.
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 Arumbakkam in Chennai, 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 Arumbakkam, here are some ways to obtain 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.
Having both the IFSC and MICR codes makes it easy for account holders in Chennai to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0008040.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Plot No Pc 37 Razack Garden Main Roadmmda Colony Arumbakkam Chennai located in Chennai, Arumbakkam, Tamil Nadu.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.