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 Kottayam branch in Kottayam, Kottayam, Kerala, 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 Kottayam or anywhere in Kerala can transfer funds instantly by using the correct IFSC Code BKID0008531. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Kottayam, Kottayam
Below in the table are the key details related to IFSC Code BKID0008531 of Bank Of India for its branch located in Kottayam, within the district of Kottayam in the state of Kerala.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0008531 |
| Branch | Kottayam |
| City | Kottayam |
| District | Kottayam |
| State | Kerala |
| Address | Pb No 95 Ashirwad Towerssastri Road |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Kottayam for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0008531 for the Kottayam branch of Bank Of India has an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like BKID0008531 is given to every bank branch, including Bank Of India located in Kottayam, Kottayam, Kerala, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Kottayam.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Kottayam and Kottayam.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Kerala and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Kottayam doesn't end up at another location.
Format of the IFSC Code BKID0008531
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 Kottayam in Kottayam.
For example, the IFSC Code BKID0008531 of Bank Of India for the Kottayam branch includes these elements, identifying the bank and the branch location in Kottayam and Kerala accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0008531 of Bank Of India for its Kottayam branch located in Kottayam, 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 Kottayam and Kottayam, 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 Kottayam or Kottayam to find the exact IFSC Code BKID0008531.
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 Kottayam will provide accurate information.
How to Use IFSC Code BKID0008531 for Online Transfers?
Once you have the IFSC Code BKID0008531 for the Kottayam branch of Bank Of India in Kottayam, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0008531. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹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 BKID0008531.
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 Kottayam in Kottayam, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Kottayam, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Kottayam manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0008531.
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 Pb No 95 Ashirwad Towerssastri Road located in Kottayam, Kottayam, Kerala.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.