There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Sowcarpet branch in Chennai, Chennai, Tamil Nadu, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of Bank Of India situated in Chennai or anywhere in Tamil Nadu can easily transfer funds instantly by using the correct IFSC Code BKID0008003. You should 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, Sowcarpet, Chennai
Here are some of the key details that come with the IFSC Code BKID0008003 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 | BKID0008003 |
| Branch | Sowcarpet |
| City | Chennai |
| District | Chennai |
| State | Tamil Nadu |
| Address | 59 Devaraja Mudali Streetchennai 600 003 |
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 BKID0008003 for the Sowcarpet 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, including Bank Of India located in Sowcarpet, Chennai, Tamil Nadu, is provided with a unique IFSC like BKID0008003 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Chennai.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Chennai and Chennai.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Tamil Nadu and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Sowcarpet do not get mixed with another location.
Format of the IFSC Code BKID0008003
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 Sowcarpet in Chennai.
For example, the IFSC Code BKID0008003 of Bank Of India for the Sowcarpet 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?
If you are looking for the IFSC Code BKID0008003 of Bank Of India for its Sowcarpet branch located in Chennai, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the 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
You can visit the official website of Bank Of India and look for the branch locator section, then search for Sowcarpet or Chennai to get the exact IFSC Code BKID0008003.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Chennai, then it will provide you proper information.
How to Use IFSC Code BKID0008003 for Online Transfers?
Once you have the IFSC Code BKID0008003 for the Sowcarpet branch of Bank Of India in Chennai, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0008003. Transfers are processed in batches. This is suitable for 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 BKID0008003.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Bank Of India Sowcarpet in Chennai may result in delayed or failed transactions.
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 Sowcarpet, 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 of the Sowcarpet Chennai branch is BKID0008003.
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 59 Devaraja Mudali Streetchennai 600 003.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
