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Indian Overseas Bank IFSC Code is an alphanumeric number which speaks a lot about the bank, branch and helps in online money transactions. It helps and aids two different types of online transactions including the NEFT and RTGS. The IFSC stands for Indian Financial System Code. The Indian Overseas Bank IFSC Code is essentially assigned by the RBI (Reserve Bank of India) in order to identify the different branches on Indian Overseas Bank easily.
This code is made with 11 characters (alphanumeric) in which different elements describe different things. The first six digits are symbol of the Indian Overseas Banks and the last 5 digits describe the branch of the bank.
Where and How to Find the How to Find Indian Overseas Bank IFSC CODE?
- You can easily find the IFSC code for your bank and branch. To find an IFSC code for Indian Overseas bank from the website of the bank itself. You can make use of address search box. All you need is to type the Indian Overseas Bank branch name or the address and you will instantly get the result from the list. The details of the bank will be shown. You can save or download this information for your convenience.
- You can find the IFSC code for your bank branch from Internet as well
- Find the IFSC code printed over the passbooks and cheque book provided to you while you opened an account with them.
Where to Use the Indian Overseas Bank IFSC CODE?
It is important to remember and save your IFSC code because it helps in:
- Online fund transfers through NEFT and RTGS Systems
- It helps during Internet banking. It is amongst the must have account details which include account number, account type, holder name etc.
- It is also used in online bill payments, shopping, booking and similar operations
Understanding the Format of Code
IOB***0*****- this is the format for a typical IFSC code of Overseas bank. Here the first 6 alphabets and number is an indicator of the bank name. Here IOB stands for Indian Overseas Banks and the fifth alphabet in the code is always zero. The succeeding number after this 0 is the branch code number which is unique to every branch. The branch number is unique and is also dependent on your location.