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 Nerul branch in Nerul (Goa), Nerul Goa, Goa, 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 Nerul (Goa) or anywhere in Goa can easily transfer funds instantly by using the correct IFSC Code BKID0001017. 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, Nerul, Nerul (Goa)
The table below shows the main details of the IFSC Code BKID0001017 for the Bank Of India branch in Nerul (Goa), which falls under the Nerul Goa district in Goa.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0001017 |
| Branch | Nerul |
| City | Nerul (Goa) |
| District | Nerul Goa |
| State | Goa |
| Address | Laxmi Residencytinto Bardez |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Nerul (Goa) for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0001017 for the Nerul 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 Nerul, Nerul (Goa), Goa, are allotted a unique IFSC like BKID0001017 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Nerul (Goa).
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Nerul (Goa) and Nerul Goa.
- 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 Nerul reaches the right place, even though there are thousands of branches in Goa and across India.
Format of the IFSC Code BKID0001017
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 Nerul in Nerul (Goa).
For example, the IFSC Code BKID0001017 of Bank Of India for the Nerul branch includes these elements, identifying the bank and the branch location in Nerul (Goa) and Goa accurately.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0001017 of Bank Of India for its Nerul branch located in Nerul (Goa), 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 Nerul (Goa) and Nerul Goa, 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 Nerul or Nerul (Goa) to get the exact IFSC Code BKID0001017.
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 Nerul (Goa), then it will provide you proper information.
How to Use IFSC Code BKID0001017 for Online Transfers?
If you have the IFSC Code BKID0001017 for the Nerul branch of Bank Of India in Nerul (Goa), you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0001017. Transfers are processed in batches. 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. Asks for the recipient's account details and Bank Of India IFSC Code BKID0001017.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Bank Of India Nerul in Nerul (Goa), it 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 Nerul, 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 Nerul (Goa) to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0001017.
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 Laxmi Residencytinto Bardez located in Nerul (Goa), Nerul Goa, Goa.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
