Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Bailey Road branch in Patna, Patna, or Bihar, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Patna or anywhere in Bihar can transfer funds instantly by using the correct IFSC Code BKID0004458. You should definitely 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, Bailey Road, Patna
Below in the table are the key details related to IFSC Code BKID0004458 of Bank Of India for its branch located in Patna, within the district of Patna in the state of Bihar.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0004458 |
| Branch | Bailey Road |
| City | Patna |
| District | Patna |
| State | Bihar |
| Address | Jagdeo Path Mod Bailey Roadpatna Bihar 800014 |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Patna for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0004458 for the Bailey Road 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 provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Bailey Road, Patna, Bihar, is provided with a unique IFSC like BKID0004458 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Patna.
- 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 Patna and Patna.
- 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 Bihar and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Bailey Road do not get mixed with another location.
Format of the IFSC Code BKID0004458
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 Bailey Road in Patna.
For example, the IFSC Code BKID0004458 of Bank Of India for the Bailey Road branch includes these elements, identifying the bank and the branch location in Patna and Bihar accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0004458 of Bank Of India for its Bailey Road branch located in Patna, the following methods can help:
Cheque Book
The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
Most banks, including Bank Of India branches in Patna and Patna, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of Bank Of India and navigate to the branch locator section. Search for Bailey Road or Patna to get the exact IFSC Code BKID0004458.
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 keeps an updated list of all IFSC codes. If you search for Bank Of India and Patna, you'll get the correct details.
How to Use IFSC Code BKID0004458 for Online Transfers?
Once you have the IFSC Code BKID0004458 for the Bailey Road branch of Bank Of India in Patna, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0004458. 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 BKID0004458.
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 Bailey Road in Patna 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 Bailey Road, 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 Patna to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0004458.
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 Jagdeo Path Mod Bailey Roadpatna Bihar 800014 located in Patna, Patna, Bihar.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.