IFSC Code of Bank Of India, Phaltan, Phaltan Dist Satara, Maharashtra — BKID0001305

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 Phaltan branch in Phaltan (Dist Satara), Phaltan Dist Satara, or Maharashtra, 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 Phaltan (Dist Satara) or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0001305. 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, Phaltan, Phaltan (Dist Satara)

Here are some of the key details that come with the IFSC Code BKID0001305 of Bank Of India for its branch located in Phaltan (Dist Satara), within the district of Phaltan Dist Satara in the state of Maharashtra.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Phaltan (Dist Satara) for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0001305 for the Phaltan branch of Bank Of India is vital.

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 BKID0001305 is given to every bank branch, including Bank Of India located in Phaltan, Phaltan (Dist Satara), Maharashtra, 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 Phaltan (Dist Satara).
• 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 Phaltan (Dist Satara) and Phaltan Dist Satara.
• 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 Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Phaltan doesn't end up at another location.

Format of the IFSC Code BKID0001305

The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:

AAAA0CCCCCC

Here's the breakdown of this:

• First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
• 5th character (0): Always zero which is reserved for future use.
• Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Phaltan in Phaltan (Dist Satara).

For example, the IFSC Code BKID0001305 of Bank Of India for the Phaltan branch includes these elements, identifying the bank and the branch location in Phaltan (Dist Satara) and Maharashtra accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0001305 of Bank Of India for its Phaltan branch located in Phaltan (Dist Satara), 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

You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Phaltan (Dist Satara) and Phaltan Dist Satara, print them 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 Phaltan or Phaltan (Dist Satara) to get the exact IFSC Code BKID0001305.

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 Phaltan (Dist Satara), you'll get the correct details.

How to Use IFSC Code BKID0001305 for Online Transfers?

Once you have the IFSC Code BKID0001305 for the Phaltan branch of Bank Of India in Phaltan (Dist Satara), you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0001305. The transfer is completed in batches instead of instantly. It is useful for both 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 BKID0001305.

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 Phaltan in Phaltan (Dist Satara), your payment can get delayed or might not go through at all.

Finding the MICR Code

MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Phaltan, you can find it by any of the following ways:

• Check the bottom of your cheque leaf.
• Go to the first page of your passbook.
• Visit the official Bank Of India website.
• Search the RBI portal.

Having both IFSC and MICR codes helps account holders in Phaltan (Dist Satara) manage online transfers as well as cheque clearances with ease.