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 Saguna More branch in Patna, Patna, Bihar, 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 Patna or anywhere in Bihar can transfer funds instantly by using the correct IFSC Code BKID0005787. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Saguna More, Patna
Here are the key points that are associated with the IFSC Code BKID0005787 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 | BKID0005787 |
| Branch | Saguna More |
| City | Patna |
| District | Patna |
| State | Bihar |
| Address | Saguna More In Front Of Dsp Office Ward Nopatna 801503 |
These details help users in online banking and for businesses and individuals who use Bank Of India in Patna for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005787 for the Saguna More branch of Bank Of India has a very 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 Saguna More, Patna, Bihar, are given a unique IFSC like BKID0005787 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Patna.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents any kind of confusion between different branches of the same bank in places like Patna and Patna.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It helps ensure that any money sent to Bank Of India in Saguna More goes to the correct branch. This is important because Bank Of India has thousands of branches in Bihar and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0005787
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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Saguna More in Patna.
For example, the IFSC Code BKID0005787 of Bank Of India for the Saguna More branch has these elements, identifying the bank and the branch location in Patna and Bihar correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0005787 of Bank Of India for its Saguna More branch located in Patna, 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 Patna and Patna, 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 Saguna More or Patna to get the exact IFSC Code BKID0005787.
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 Patna that will provide accurate information.
How to Use IFSC Code BKID0005787 for Online Transfers?
Once you have the IFSC Code BKID0005787 for the Saguna More branch of Bank Of India in Patna, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0005787. 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 BKID0005787.
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 Saguna More in Patna, 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 Saguna More, here are some ways that 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.
If you know both IFSC and MICR codes, then it can help account holders in Patna manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Saguna More Patna branch is BKID0005787.
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 Saguna More In Front Of Dsp Office Ward Nopatna 801503.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.