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 Mount Road branch in Chennai, Chennai, Tamil Nadu, 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 Chennai or anywhere in Tamil Nadu can transfer funds instantly by using the correct IFSC Code BKID0008001. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Mount Road, Chennai
Here are the key points that are associated with the IFSC Code BKID0008001 of Bank Of India for its branch located in Chennai, within the district of Chennai in the state of Tamil Nadu.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0008001 |
| Branch | Mount Road |
| City | Chennai |
| District | Chennai |
| State | Tamil Nadu |
| Address | 827 Anna Salaipost Box No 2703 |
These details help 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 BKID0008001 for the Mount Road branch of Bank Of India has a very 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 Mount Road, Chennai, Tamil Nadu, is provided a unique IFSC like BKID0008001 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Chennai.
- 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 Chennai and Chennai.
- 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 Tamil Nadu and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Mount Road do not get misguided to another person.
Format of the IFSC Code BKID0008001
The format of the IFSC Code for banks, including Bank Of India, has 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 Mount Road in Chennai.
For example, the IFSC Code BKID0008001 of Bank Of India for the Mount Road branch includes these elements, identifying the bank and the branch location in Chennai and Tamil Nadu correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0008001 of Bank Of India for its Mount Road branch located in Chennai, 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 Chennai and Chennai, 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 Mount Road or Chennai to find the exact IFSC Code BKID0008001.
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 Chennai will provide accurate information.
How to Use IFSC Code BKID0008001 for Online Transfers?
Once you have the IFSC Code BKID0008001 for the Mount Road 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 BKID0008001. 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 BKID0008001.
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 Mount Road in Chennai, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Mount Road, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Chennai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0008001.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is 827 Anna Salaipost Box No 2703 located in Chennai, Chennai, Tamil Nadu.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
