IFSC Code of Bank Of India, Purasawalkam, Chennai, Tamil Nadu — BKID0008007

For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its Purasawalkam branch in Chennai, Chennai, Tamil Nadu, this comprehensive guide will provide you with detailed information.

The banking system in India has changed significantly 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 BKID0008007. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.

Details of IFSC Code for Bank Of India, Purasawalkam, Chennai

Here are the main details that are associated with the IFSC Code BKID0008007 of Bank Of India for its branch located in Chennai, within the district of Chennai in the state of Tamil Nadu.

These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Chennai for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0008007 for the Purasawalkam branch of Bank Of India plays an important 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 Purasawalkam, Chennai, Tamil Nadu, are given a unique IFSC like BKID0008007 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 any kind of confusion between different branches of the same bank in places like Chennai and Chennai.
• It reduces errors in fund transfers and improves accuracy.
• It helps the sender banks to validate and confirm branch details before processing payments.

It helps ensure that any money sent to Bank Of India in Purasawalkam goes to the correct branch. This is important because Bank Of India has thousands of branches in Tamil Nadu and all over India, and the IFSC Code prevents payments from going to the wrong place.

Format of the IFSC Code BKID0008007

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 Purasawalkam in Chennai.

For example, the IFSC Code BKID0008007 of Bank Of India for the Purasawalkam 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 BKID0008007 of Bank Of India for its Purasawalkam 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 Purasawalkam or Chennai to find the exact IFSC Code BKID0008007.

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 BKID0008007 for Online Transfers?

Once you have the IFSC Code BKID0008007 for the Purasawalkam 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 BKID0008007. 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 BKID0008007.

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 Purasawalkam 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 Purasawalkam, 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 Chennai manage online transfers as well as cheque clearances with ease.