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Indian Overseas Bank (IOB) was established on 10th February 1937 by one of the pioneers of Indian banking - Shri. M.Ct.M. Chidambaram Chettiar. The bank was started with the primary objective of catering to foreign exchange business within the banking sector and to eventually cater to banking requirements across the globe. IOB started operations simultaneously in Karaikudi, Chennai and also Rangoon in Burma (present-day Myanmar). It also set up a branch in Penang, Malaysia.

Post-independence, IOB had managed to open nearly 38 branches across India and 7 branches internationally. IOB was one of the first 14 banks to be nationalized back in 1969. By this year, IOB had managed to open 195 branches across India with estimated deposits of Rs. 67.70 Cr. and advances reaching up to Rs. 44.90 Cr. Today, the bank has an overseas business in about 5 countries including Singapore, Hongkong, Thailand, Sri Lanka and South Korea.

In this guide, you will learn about the IFSC code for IOB. An IFSC code represents a specific branch of banks in India. The expanded form of IFSC is Indian Financial System Code. This code has 11 characters and is a combination of alphabets and numbers. The alphabets normally represent the bank’s name. The standard format of IFSC code looks like ABCD1234567. The first half of the code which is made up of alphabetical characters is a reference for the bank code and the second half is the branch code. Read on to find out more about IOB’s IFSC code.

Purpose of IFSC Code

IFSC code is assigned by RBI to all banks in India. This code is mainly used for various banking transactions especially related to money transfers done online and offline. The code helps in identifying all the banks which participate in transactions like Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and Centralised Funds Management System (CFMS).

To transfer money to a bank account via online banking, RTGS or NEFT is used. A user has to add the specific bank details of the recipient or beneficiary. Some of the bank details that are required include the account number, name of the recipient, IFSC Code of the branch where the recipient’s account exists, etc. IFSC code is then verified and only post that, one can send across funds to any person who is participating in the transaction. RBI has mandated all banks to print the IFSC code representing the branch on cheque leaflets issued to bank customers.

How to find IOB IFSC code?

Customers of Indian Overseas Bank can find it’s IFSC code either online or offline. CreditMantri is one of the online sources for finding IFSC code for branches of Indian Overseas Bank. One can find a list of Indian Overseas Bank IFSC codes by looking up the bank’s branch name. The process is easy and here are the steps to be followed:

1: Go to CreditMantri website and look for IFSC code page

2: Filter the specific state, district and branch

3: The screen will show the IFSC Code, MICR code, branch address and also the contact number of the branch that you are looking for.

The Indian Overseas Bank IFSC code can also be found on the bank’s cheque leaflets. In case you are not comfortable using the online option, you can reach out to Indian Overseas Bank customer care on call and request for the IFSC code of any branch. You can also walk in to the nearest Indian Overseas Bank branch and request for these details.

Here’s what you should know about IFSC codes

When it comes to the IFSC code, although it is used frequently, we tend to know very little about it. Here are some of the important facts to read about IFSC.

Allotted by RBI

A lot of people have a misconception that IFSC codes are provided by banks. In India, the RBI is the only rightful authority which has the power to generate and allot IFSC code to all bank branches. This is done via the head office of the Reserve Bank. The RBI also has a detailed record of IFSC codes of all banks and branches across India. It is provided to banks who are involved in online fund transfer and offer such facilities to consumers. RBI’s website has all the IFSC codes and you can look up the same for checking a particular bank branch. You can find a link in the footer menu on RBI website’s home page. Click on this link to visit the page with bank options. Select the bank from the drop-down menu and mention the branch name for getting the IFSC code of the same.

Unique Code

IFSC codes are unique and specific for every bank and branch combination. It is somewhat similar to how a PNR number works in train reservations. It helps to ensure that no two passengers get the same seat on any train. IFSC codes are based on a similar concept since it helps in faster, easier and confusion-free transfer of funds online. NEFT and RTGS fund transfers use the bank account number and the IFSC code for further processing.

RBI – The Main Authority for IFSC

RBI has the sole right and power as far as IFSC code is concerned. Whether it is the generation of the code or alteration or even cancellation, RBI gets to decide on these aspects. RBI does not change IFSC codes for banks and branches. However, if required, it retains the authority and right to make amendments where necessary. In case the IFSC code for a bank or branch is changed, a new code is allotted to the bank and it can be obtained by customers. Account-holders must request for new cheque books with the new IFSC code in case of any changes.

Issues with IFSC Code 

Like any other code or number combination, there could be errors relating to IFSC Code while making a fund transfer. It is therefore important to double-check before initiating a fund transfer. An incorrect IFSC code could lead to issues as far as the bank transfer is concerned. Usually, the money would revert to the transferor’s account. Sometimes, a wrong account may get credited. Although such incorrect transfers could be reverted, the process of getting back the money could be quite lengthy.


1. How do I find the IFSC code of Indian Overseas Bank?

IFSC code or Indian Financial System Code is a unique eleven-digit code which is required for online transfer of funds between banks. The code is made up of alphabets and numerals. You can either visit the RBI website to look up the IFSC code of a specific IOB branch or you may check the same on the bank’s cheque leaflet.

2. What is the use of Indian Overseas Bank IFSC Code?

IFSC Code is required for online fund transfer between banks. It is mainly required for payment methods like NEFT, IMPS and RTGS.

3. What if I end up using the wrong Indian Overseas Bank IFSC code during fund transfer?

While transferring funds, it is important to provide all the correct credentials such as account number, IFSC code, etc. In case you enter the incorrect IFSC code of Indian Overseas Bank, the transaction could either fail or the funds can land up in an incorrect account.

4. What is the purpose of the Indian Overseas Bank IFSC code?

IFSC code is used to identify the specific branch of any bank which participates in NEFT or RTGS fund transferring system online.

5. Is it possible that IFSC codes for Indian Overseas Bank are similar to another bank or branch?

No, each Indian Overseas Bank branch would have its unique IFSC code which helps to identify it. Duplicate IFSC codes are not possible.

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