For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its New Vip Road branch in Vadodra, Vadodra, Gujarat, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Bank Of India located in Vadodra or anywhere in Gujarat can transfer funds instantly by using the correct IFSC Code BKID0002523. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, New Vip Road, Vadodra
Below in the table are the key details related to IFSC Code BKID0002523 of Bank Of India for its branch located in Vadodra, within the district of Vadodra in the state of Gujarat.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0002523 |
| Branch | New Vip Road |
| City | Vadodra |
| District | Vadodra |
| State | Gujarat |
| Address | Shop No 1 2Ground Floorprofit Centreranchod Park Chsamit Nagarcirclenew Vip Rd |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Vadodra for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0002523 for the New Vip Road branch of Bank Of India plays a vital 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 BKID0002523 is given to every bank branch, including Bank Of India located in New Vip Road, Vadodra, Gujarat, 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 Vadodra.
- 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 Vadodra and Vadodra.
- 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 Gujarat and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in New Vip Road doesn't end up at another location.
Format of the IFSC Code BKID0002523
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 New Vip Road in Vadodra.
For example, the IFSC Code BKID0002523 of Bank Of India for the New Vip Road branch includes these elements, identifying the bank and the branch location in Vadodra and Gujarat accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0002523 of Bank Of India for its New Vip Road branch located in Vadodra, 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 Vadodra and Vadodra, 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 New Vip Road or Vadodra to get the exact IFSC Code BKID0002523.
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 Vadodra that will provide accurate information.
How to Use IFSC Code BKID0002523 for Online Transfers?
Once you have the IFSC Code BKID0002523 for the New Vip Road branch of Bank Of India in Vadodra, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0002523. 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 BKID0002523.
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 New Vip Road in Vadodra 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 New Vip Road, 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 Vadodra manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0002523.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Shop No 1 2Ground Floorprofit Centreranchod Park Chsamit Nagarcirclenew Vip Rd located in Vadodra, Vadodra, Gujarat.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.