Indian Overseas Bank IFSC Code

Indian Overseas Bank (IOB) is a major public sector bank which is based in Chennai (Madras) and is headquartered in Chennai, Tamil Nadu. The bank was founded in Madras on 10th February in the year 1937.

IOB has about 3400 domestic branches in Tamil Nadu, 3 extension counters, eight branches and offices overseas. The bank offers banking products and services such as loans, saving accounts, investment vehicles, credit cards etc.

Indian Overseas Bank IFSC Code, Thiruvanthapuram

Reserve Bank of India (RBI) has launched IFSC codes which stand for Indian Financial System Code. This code was introduced by the RBI in order to ensure security and safety of the transactions. IFSC Code also helps in indentifying the bank and branch where the account of the beneficiary is held. RBI has also mandated IFSC code for different bank transactions. The IFSC code helps in recognizing each and every bank and its branches separately. The IFSC Codes follow two payment and settlement systems in India which are as follows:

1. RTGS (Real Time Gross Settlement)

2. NEFT (National Electronic Fund Transfer)

IFSC Code is 11- digit code assigned by the Reserve Bank of India (RBI) to every bank as a part of NEFT / RTGS.

In IFS Code

(a) First four characters identify the bank name i.e. IOBA

(b) The fifth character is always 0

(c) And the last character represents the branch address i.e. 000099

[The IFSC Code used in above example is of M. G Road, Thiruvanthapuram i.e. “IOBA0000099”].

Thiruvanthapuram is the capital of the Southern Indian State of Kerala. It is the first city along the path of the south – west monsoon and gets its first showers in early June. The city has beautiful sea side city built on seven hills. It is located on the west coast of India near the extreme south of the mainland spreading over a total of 2, 192 sq. Km.