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 Balanagar branch in Hyderabad, Hyderabad, Andhra Pradesh, 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 Hyderabad or anywhere in Andhra Pradesh can transfer funds instantly by using the correct IFSC Code BKID0008640. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Balanagar, Hyderabad
Here are the main details that are associated with the IFSC Code BKID0008640 of Bank Of India for its branch located in Hyderabad, within the district of Hyderabad in the state of Andhra Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0008640 |
| Branch | Balanagar |
| City | Hyderabad |
| District | Hyderabad |
| State | Andhra Pradesh |
| Address | Shiv Ganesh Complex7 4 1945 Ground Floor |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Hyderabad for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0008640 for the Balanagar 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 Balanagar, Hyderabad, Andhra Pradesh, are allotted a unique IFSC like BKID0008640 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Hyderabad.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Hyderabad and Hyderabad.
- 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 Balanagar reaches the right place, even though there are thousands of branches in Andhra Pradesh and across India.
Format of the IFSC Code BKID0008640
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 Balanagar in Hyderabad.
For example, the IFSC Code BKID0008640 of Bank Of India for the Balanagar branch includes these elements, identifying the bank and the branch location in Hyderabad and Andhra Pradesh correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0008640 of Bank Of India for its Balanagar branch located in Hyderabad, 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 Hyderabad and Hyderabad, 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 Balanagar or Hyderabad to get the exact IFSC Code BKID0008640.
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 Hyderabad that will provide accurate information.
How to Use IFSC Code BKID0008640 for Online Transfers?
Once you have the IFSC Code BKID0008640 for the Balanagar branch of Bank Of India in Hyderabad, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0008640. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0008640.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Balanagar in Hyderabad, it can 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 Balanagar, 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 Hyderabad to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0008640.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Shiv Ganesh Complex7 4 1945 Ground Floor located in Hyderabad, Hyderabad, Andhra Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.