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Bank of India IFSC Code

The country's central bank (RBI) has specified three ways in which we can remit money. These include the popular NEFT, RTGS and IMPS. However, to undertake these transactions, we must have the IFSC Code allotted by RBI to each bank and the specified branch.

The Bank of India IFSC Code is an 11-digit alphanumeric code having special 4 characters, 'BKID', stand for the name of the bank, the fifth character is always 'zero' for future use and the final six characters specify the 'exact branch address'.

How to Search for Bank of India IFSC Codes?

If you are searching for the IFSC code of your home branch, you can use two mechanisms to search. In the offline mode you will find it written on your cheque book, which has been given to you by the Bank of India branch. If you are looking for online IFSC Code of Bank of India you can find here in Goodreturns.

State Wise Bank of India IFSC & MICR Code

About Bank of India

Modest beginnings

Bank of India traces its history to the early part of the 19th century, when a few prominent businessmen, came together to start the bank.

It is a Mumbai based bank, which has grown across the length and breadth of the country, since modest beginnings in 1906.

Huge presence of Bank of India

Bank of India has a huge branch network that comprises almost 5000 branches, which makes it among the top banks in the country, in terms of branches.

It surpasses, even the top private sector banks in the country, in terms of number of branches.

Bank if India was the first nationalised bank to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. This was when computer use was hardly in vogue.

Melwyn Rego is now the Managing Director and CEO of Bank of India. Prior to this he was holding the position of Deputy Managing Director, IDBI Bank Ltd since August 30, 2013. He is a career banker and has been with IDBI Bank Ltd since 1984. Melwyn Rego, 56 years, is an MBA rank holder in finance from Symbiosis Institute of Business Management, Pune.

We have provided herewith IFSC codes of the various branches of Bank of India. Since the bank has a very huge network for remittance of money into Bank of India branches, you must have the BOI IFSC Codes.

All You Need To Know About Bank of India IFSC Code

A specific 11-character alphanumeric code that helps to identify particular bank branches is the BOI IFSC code.

BOI account holders use the IFSC Code of BOI to send / transfer money online via NEFT / RTGS / IMPS systems. BOI account holders must check for their branch's BOI IFSC code at Goodreturns.in. You can check for Bank of India IFSC code by visiting this page by inputting data such as your state, city and branch under "BOI IFSC Code." at the top of this page. You will also locate the IFSC code of some of the top search branches of BOI on this page. After entering all the required details to find the IFSC code of your bank branch you will find the branch details and address of your bank branch. 

What is the role of BOI IFSC Code for online transaction?

For making an online transaction or fund transfer the IFSC code of a bank plays an important role. With the assistance of the IFSC Code, you can send money to any BOI account and receive money from any BOI account as well. Using BOI IFSC Code you can also send/transfer money through NEFT mode from a BOI branch. The amount that you can transact via the BOI account online has some restrictions. Therefore, you have to search the upper and minimum cap of the amount before making an online transaction or transfer. In order to make online transactions, the Bank of India IFSC code is a must. Assume that you borrowed Rs 10,000 from a beneficiary and want to use your net banking facility to repay it. You need to first include the specifics of the beneficiary i.e. account number, bank and branch name and address and IFSC code of the bank branch to repay or transfer the money. Using the net banking facility of BOI you can make online transactions including fund transfer on a 2x7 basis. To render fund transfer to the beneficiary you need to register the account details of the beneficiary only one time on the net banking portal of your bank.   

What is the role of Bank of India IFSC Code on the electronic fund transfer facilities?

The Bank of India has made it incredibly convenient for customers to transfer money using the electronic money transfer systems NEFT and RTGS. Both of these services can be accessed by customers electronically and are incredibly fast and secure.

National Electronic Fund Transfer (NEFT)

Adopted by RBI, NEFT or National Electronic Funds Transfer the online service makes transfers of funds electronically between the recipient and beneficiary. Individuals and banks can transfer money with the aid of this service to other bank accounts of the same bank or to accounts maintained with other banks across India. The sender and receiver bank must be part of the NEFT system in order to perform a NEFT transaction. Under the NEFT network, the RBI issues specific IFSC codes to each affiliate bank to help strengthen the safety of all monetary transactions between banks.

Real Time Gross Settlement (RTGS)

RTGS, or Real Time Gross Settlement, is close to NEFT. This is another form of electronic money transfer that is used to handle higher cash value transfers of funds. Transfers from RTGS take place even faster because they are handled in real time, i.e. a transfer is conducted one at a time as soon as it is received. The use of an IFSC code that specifies the origin and destination banks is also active in RTGS.  


Immediate Mobile Payment Services (IMPS) is an online real-time transfer mechanism for inter-bank transfers operated by India's National Payment Corporation. Unlike NEFT and RTGS, IMPS is available 24 x 7 during the entire year, including bank holidays. The recipient needs to have the following details in order to transfer money to the beneficiary:

  • Bank account number of the beneficiary
  • Type of account of the beneficiary i.e. Savings/Current Account
  • IFSC Code of the receiver’s bank branch
  • Name of the beneficiary as per his / her bank account

What are the ways to locate BOI IFSC & MICR Code Online And Offline?

Some vital beneficiary details, such as the name of the account holder, account number, branch address and, most particularly, the IFSC, must be presented for making a fund transfer, whether it is an offline or online banking holder. Now let us uncover the best approaches to access your particular bank branch.

  • BOI IFSC is the prerequisite for carrying out any sort of fund transfer. Thus, one must be aware of various websites that they can look at to get the BOI IFSC Code.
  • Goodreturns has built a search tool for the IFSC code which can be accessed to find your specific BOI Bank branch's IFSC code. You have to visit Goodreturns.in, where you can check for the appropriate IFSC code.
  • In addition, one can check the official site of the RBI. RBI maintains all functions related to banking across the country and encompasses the IFSC and MICR codes of all the BOI Bank's respective branches.

But besides the above-mentioned methods, as a customer of BOI Bank, you can also locate the IFSC Code via the offline methods described below. 

Via BOI Cheque Book- At the top of the cheque issued by the bank, the Bank of India IFSC code of a specific branch is listed. At the bottom of the cheque, you can find the cheque number and MICR code.

Via BOI Passbook- Account holders can also search these codes for the financial system on their bank-provided account passbook.   

Key difference between Bank of India NEFT, RTGS and IMPS

Customers of BOI can initiate fund transfers through the following ways:


National Electronic Funds Transfer (NEFT) refers to the Reserve Bank of India's electronic funds method that allows bank customers to transfer funds between any two NEFT-approved bank accounts. After all, NEFT transfers must be sensitive to the BOI IFSC code or some other bank IFSC code in order to carry out transfers using National Electronic Funds Transfer (NEFT). In the event of an erroneous IFSC, the fund is not transferred to the account of the recipient. 


Real-Time Gross Settlement (RTGS) is yet another payment mechanism in which funds are credited in real-time and on a gross basis to the beneficiary's account. The RTGS structure is specifically intended for transactions of large value that require and seek immediate clearance. The sender has to provide the following information in order to make a transaction using RTGS.

  • Name of the beneficiary
  • Account type and account number of the beneficiary
  • IFSC code of the beneficiary’s bank branch
  • Amount to be credited to the beneficiary


Immediate Mobile Payment Services (IMPS) is an online real-time transfer mechanism for inter-bank transfers operated by India's National Payment Corporation. Unlike NEFT and RTGS, IMPS is accessible 24 x 7 throughout the whole year, including bank holidays. The sender has to include the following information in order to send money.

  • Account type and account number of the beneficiary
  • Name of the beneficiary
  • IFSC code of the beneficiary’s bank branch

Bank of India IMPS

Immediate Payment Service (IMPS) is an NPCI's service that enables bank customers to instantly send money to any of the IMPS-enabled member banks throughout India. The service fits with many distinctive characteristics such as 24X7 accessibility, convenience of transaction flow, and accessible via mobile banking, net banking and ATM platform. Different banks, via their mobile banking platforms, have remittance facilities. The interbank remittance process conducted from a smartphone is accepted as a National Electronic Fund Transfer (NEFT) transaction by the recipient bank. Consequently, the status of such a request for payment is not immediately known since NEFT payments are conducted in batches from 9 am to 7 pm. The customer must be a user of Retail Internet Banking with the facility to transfer funds. The recipient customer must have their mobile numbers verified with the bank where the customer wants to receive the credit and should be issued with a legitimate MMID from the bank. The beneficiary must register for IMPS for IMPS-P2P, while the beneficiary may not be registered for IMPS for IMPS-P2A. A 'ADD BENEFICIARY' alternative has also been provided under the IMPS Payment option. As a one-time task, a customer has to specify the required specifics in order to add a beneficiary. Once an IMPS beneficiary is activated, an SMS confirming the successful addition of the IMPS beneficiary is issued by Remitter. Only by selecting the requested recipient from the list one can initiate a fund transfer through IMPS.          

Bank of India RTGS Form

The amount paid through RTGS must hit the beneficiary's bank account within 30 minutes of the commencement of the process, as per the Reserve Bank of India regulations. If for whatever reason, the balance can not be transferred to the bank account, it must be returned within 2 hours to the sender's account. Filling the RTGS form of the Bank of India renders the processing convenient for the applicant and saves time. This means that all the information needed is accessible at one point for both groups.

Specifics required to fill BOI RTGS Form

The following specifics must be filled out in the BOI RTGS form, in order to initiate fund transfer through RTGS:

Payment details:

  • Amount to be transferred
  • Cheque number (if necessary)

Details of the remitter

  • Phone number
  • Title of account
  • Type of account (savings/ current/ cash credit/ overdraft)

Details of the beneficiary

  • Name as per his or her bank account
  • IFSC Code of the respective bank branch
  • Bank name and address
  • Account number and type of account

Bank of India RTGS Limits

Bank of India approves RTGS for a minimum of Rs 2 lakhs and a limit of Rs 25 lakhs per day if the transfer is carried out at the branch. The higher limit is Rs 5 lakhs if the RTGS is done through mobile banking or net banking.

Key takeaways related to BOI RTGS Form

Bank of India RTGS form can be edited and filed online. To trigger the RTGS transaction, applicants can download, print, and send a hard copy to the bank branch. The form can be submitted electronically via net banking and mobile banking to trigger the RTGS transaction. Bank of India RTGS form has some terms of service listed below which must be reviewed and confirmed too by the applicant in order to trigger the transfer. 

  • The transaction will only be processed if the recipient bank is a participant in the RTGS process, or else the transaction will be denied
  • If the information entered is inaccurate and the payment is delayed for this reason or made in the inaccurate account, the bank will not be responsible for the same.
  • In order to trigger an online RTGS, the sender must add the receiver by signing in to the Star Connect Internet Banking services.
  • The sender can track the status under the RTGS payment option after placing the payment through net banking or mobile banking.
  • In this mode of payment, the applicant can fill in and submit the Bank of India RTGS form online.
  • The sender has the option to fill in the form either in English or Hindi when paying through the branch. In regional languages, some local branches might also have RTGS forms.

Bank of India NEFT Form

NEFT facilities are provided to all of the Bank of India's account holders. This is an alternative for the transfer of funds that is mostly used by the internet banking services offered by the bank. However, you can also make the transfer offline at the nearest Bank of India branch for those who are unable to access their net banking account or have any issues dealing with online NEFT transfers. Scroll down to know more about Bank of India NEFT form deeper grasp.

Use of BOI NEFT form and details required to fill the form

You need to fill up a Bank of India NEFT Form and submit it to the branch if you have to render a NEFT Transaction offline at a branch. The specifics alluded to in the NEFT form are physically placed into the system by the branch official. The NEFT transaction takes place afterwards, as it will be online. The Bank of India NEFT Form can be downloaded from the bank's official website. Optionally, the specifics needed to fill the Bank of India NEFT Form can be reviewed below: 

  • Name of the branch
  • Date of transaction
  • Details of the remitter i.e. Name, account number and account type, mobile number and signature
  • Details of the beneficiary i.e. Name, account number, name of the beneficiary’s bank and branch, branch address, type of account, IFSC Code, amount to be transferred   

Bank of India NEFT Charges and Timings

Your branch will not charge you any fee for the transaction if there are any inward settlements. The regular NEFT Outward Settlement Charges are mentioned below:

(Note: the below charges are applicable for each transaction)

  • For an amount up to Rs.10,000: Rs. 2.50 + GST
  • Above Rs. 10,000: Rs. 5.00 + GST

You automatically give the bank permission to debit the fees charged from your account, once you fill the Bank of India NEFT form completely. 

Timing: Under the NEFT timeline of the branch, you must ensure that you submit your Bank of India NEFT form. This is also related to the branch's operating hours. Settlement of fund transfer requests in the NEFT is carried out on a half-hourly basis, according to the Reserve Bank of India. In all working days of the week (except the 2nd and 4th Saturday of the month), there are 23 half-hour settlement batches running from 8 am to 7 pm. On defined bank holidays, you will not be eligible to execute NEFT transactions. In contrast, on Sunday and the second and fourth Saturday, NEFT transfers are also not settled. 

Note: NEFT is a convenient alternative for fund transfer that can be used online and offline. The Reserve Bank of India regulates any NEFT transaction carried out, rendering it highly safe and efficient. The charges applied to the NEFT are extremely inexpensive relative to the other transfer options available.    

Bank of India Credit Card Payment Via NEFT

A selection of credit cards is issued by the Bank of India (BOI), each of which is specially crafted to provide the greatest perks. To render it more comfortable for users, BOI has an online platform for accessing credit card accounts and paying credit card bills with a user-friendly design. It is very important to pay the credit card bill on time, as it preserves service reliability and also avoids the occurrence of penalties. Credit card customers of the Bank of India can opt to pay their credit card bills both offline and online. The simple means of payment falls at no additional or hidden charges. Using NEFT (National Electronic Funds Transfer) to pay your BOI Card bills. Visit the net banking of your bank to use this facility & add the BOI Card as a recipient under the transfer of the third party. Advantages of the flexible payment method for NEFT- You can use any bank account provided by NEFT to pay your BOI Card bill online or via your bank branch.

  • Visit the BOB net banking portal and add BOI cardholder’s name as a beneficiary under third party transfer.
  • In order to make BOI Card payment add IFSC code BKID0000101 and enter your 16 digit BOI Card number in the space for account number on the banking tab.
  • Now fill the bank name and address as: BOI Credit CARD - NEFT and Bank Address – Card Products Dept., Bank of India, Mumbai Main Branch, 4th Floor, 70/80 MG Road, Mumbai 400 021.
  • Once you are done with the registration process you can initiate your BOI Card payment via this payment method.
  • You can also contact your bank branch where you hold your account and provide information such as the IFSC code (as mentioned above) and the BOI credit card number i.e. 16 digit card number, the name of the receiver (as described above) for sending the NEFT for your BOI credit card outstanding dues. 

Bank of India Timings

Opening time and operating hours of the Bank of India are basic knowledge that account holders search for. Bank of India was established in 1906 and has been operated since nationalisation in 1969 by the government. With its headquarters in the Bandra Kurla Complex, Mumbai this commercial bank is among the top five banks of India.  Bank of India, according to studies, has more than 5,000 branches, including 50+ branches outside India. BOI is a pioneer member of the Society for Financial Telecommunications Inter-Bank Worldwide (SWIFT). It enables the delivery of cost-effective services for financial management and collaboration. If you are a Bank of India account holder and want to know about their working time and mid afternoon, you can find the details here.

Bank of India working hours

The work hours of the Bank of India for urban and metropolitan branches is from 9:45 a.m. to 4:45 p.m. The schedule is from Monday to Friday. For semi-urban areas, BOI working hours are from 10:00 am to 5:00 pm. Timings are the same for rural branches as with the semi-urban regions.  

  • Bank Of India Timings From Monday To Friday: 10.00 AM to 5:00 PM
  • Bank Of India Timings on 1st, 3rd and 5th Saturdays: 10.00 AM to 5:00 PM
  • Bank Of India Timings on 2nd and 4th Saturdays and Sundays: Closed

Lunch timings in Bank of India

  • In metro/urban branches, the Bank Of India lunch schedules are normally half an hour. It takes place from 2:30 pm to 3:00 pm. On rotation, the employees take lunch so that someone is always at the desk to serve the clients.
  • The employees have the same lunch time in rural branches. But the counters normally stay closed between 2:30 pm and 3:00 pm.

How to add a beneficiary to your BOI account via net banking?

One of the largest banks in India is the Bank of India (BOI). These days, it has become very convenient to transfer money from the Bank of India to other banks via internet banking. To make transferring money faster, beneficiaries are added to the online interface of a bank account. If you want to generate a net banking account with the Bank of India and you want to add a beneficiary in your account, then follow the below-listed steps:

  • Navigate to this web address http://www.bankofindia.co.in/english/home.aspx. 
  • There should be an Internet Banking window on the left-hand side of the website with some options underneath such as Retail, Corporate, Global etc. The process for retail accounts is shown (normal user). Please click 'Retail' in order to start.
  • Now you will be redirected to the login page i.e. ‘Star Connect’ where you will have to sign in to your net banking account using User ID and Password.
  • Now click on the ‘transfer’ tab from the top bar menu and select ‘IMPS Payment‘ from the left side to add a new beneficiary.
  • In addition, you can also use ‘RTGS payment‘ and ‘NEFT payment‘ to add a beneficiary.
  • Now click on ‘Add Beneficiary‘ and enter necessary beneficiary information asked by the bank.
  • Now click on the ‘Add Beneficiary‘ option and enter user id and transaction password.
  • By entering the code sent to your registered mobile number, you then authorise your beneficiary. Your account with the beneficiary will be added within 24 hours of time period.   

How to add a beneficiary in Bank of India using mobile banking app?

In case you want to transfer funds to other bank accounts from your Bank of India (BOI) account, then you'll have to add other bank accounts as a beneficiary first. You will be allowed to transfer money to his or her account after adding the beneficiary. Bank of India Mobile Banking is the safest money transfer app online. Using IMPS, NEFT, and RTGS, you can transfer funds to any bank account. Via BOI Mobile banking, you can add beneficiaries and begin transferring money to any bank account. So to add a beneficiary in your Bank of India account using mobile banking service, follow the below-listed steps:

So let's guess, through BOI Mobile Banking, you want to transfer funds to someone's bank account. Take the steps below and add the recipient:

  • Open the BOI Mobile Banking application on your mobile and sign in to your mobile banking account using UserID and Password (MPIN).
  • Now tap on the ‘Beneficiary Management’ menu and to add the new beneficiary account, tap on the + icon.
  • Now you can add beneficiaries for different payment methods like BOI – third party, NEFT, IMPS, and RTGS. If you want to transfer money above 2 lac then pick the option of NEFT or RTGS, but we will add a beneficiary for IMPS fund transfer here. 
  • Now select IMPS – Account +IFSC and enter the account holder name, account number, and IFSC code and tap on ‘Submit’.
  • If you choose to add other BOI accounts and then select BOI -third party alternative, when you add other BOI accounts as beneficiary, you do not need to add IFSC code.

How to transfer funds from Bank of India to other banks online?

An account holder can easily be able to transfer funds from their bank to other banks using Bank of India's online banking service. In order to sign up for Bank of India online banking, certain procedures need to be completed earlier, but that's not quite very time-consuming. Bank of India has been a leader in developing the online banking framework for banks operating in India and, as a consequence, almost all financial institutions can use IMPS, RTGS and NEFT payment methods to transfer funds between them. That being said, the IMPS approach is often used for the purpose of transferring funds between the Bank of India and some other banks.

It is important to have an account with the Bank of India Star Connect platform to initiate a fund transfer between BOI and any other bank via an online portal. 

  • Visit www.bankofindia.co.in and under the ‘Internet Banking’ section, click on ‘Retail‘.
  • Now you will be redirected to the Star Connect page where you need to enter your User ID and Password using the virtual keyboard.
  • Now click on ‘Submit’ to sign in to your account
  • Now head to the ‘Transfers’ section and select ‘IMPS Payment‘.
  • Now you will get three options on your device screen i.e. Add Beneficiary, View/Delete Beneficiary and Make a Payment.
  • In case you don’t have your beneficiary added, you can do the same by entering the required details such as Name, Address, Pin Code, IFSC code, Account Type & Number and so on.
  • Now click on ‘Make a payment’ and select the beneficiary from the ‘Beneficiary Nickname‘ section.
  • Now enter the amount that you want to transfer and place remarks if any.
  • Now click on ‘Pay’ and enter User ID and transaction password in order to confirm the transaction. 
  • Now again click on ‘Pay’ and you are done.

Importance of BOI IFSC Code for online transaction

Indian Financial System Code is the full version of IFSC Code. For each BOI branch, the Reserve Bank of India has allocated this unique code. The IFSC code allows the electronic transfer of funds. Currently, as per RBI guidelines, BOI customers can transfer funds online 24x7 during the year. For making an online transaction, the BOI IFSC code is necessary. With the assistance of the IFSC Code, you can send money to any BOI account and receive money from any BOI account as well. The BOI IFSC code is often necessary to send/transfer funds from a BOI branch via the NEFT facility. The amount that you can transfer via the BOI account online has some restrictions. Therefore, you need to search the upper and minimum limit of the money that you can make an online transaction for. This detail is accessible on the approved BOI website.

For online transactions, the Bank of India IFSC code is required. Assume you have taken Rs 10,000 from a relative and want to use your net banking facility to repay it. You need to first include the specifics of your friend, such as account number, bank and branch name and address and IFSC code of your relative's bank branch, to transfer the money. You can transfer funds to your relative through 24x7 net banking, even though he/she doesn't have a BOI account. On your bank's net banking website, you will have to add your relative as a beneficiary with his bank account information.    

Format of Bank of India Account Number

One of those banks that were founded in the pre-independence period is the Bank of India (BOI). It meets all the criteria of customers, offering them with different choices for various items spanning from retail banking, corporate banking, loans, wealth management, and so on. In order to carry out electronic fund transactions, the bank has migrated from the conventional system of short account numbers to the modern 15-digit Bank of India account number layout. The RBI Directive to standardise account numbers in India's banking system environment was the chief factor for this. India's Reserve Bank insists on the uniformity of all account numbers throughout all India's banks. This is developed to ensure inter-bank transfers are simpler for customers. It is essential for the success of all transactions, whether carried out through electronic or offline mode to have a 15-digit customer account number.

The Bank of India's 15-digit account number is a sort of the standardised format required to carry out transactions, such as NEFT, RTGS, IMPS and ECS. The customer just has to visit any nearest branch of Bank of India to change your current standard short account number to the new 15-digit format and submit an application to receive the new account number. The bank executives will issue you with your latest 15-digit account number upon doing so. The structure of the account number is classified according to the category of account maintained by the Bank of India customer. With BOI, a customer can keep the following kinds of accounts:    

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