IFSC Code of Bank of India, Palasia Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, PALASIA branch in INDORE. The 11-digit IFSC BKID0008801 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Bank of India at the PALASIA location, this is the only IFSC you need.

We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this branch.

The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.

The IFSC for Bank of India – PALASIA is BKID0008801. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 008801 map to this branch in INDORE, MADHYA PRADESH.

Branch details at a glance

About the bank

Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Palasia branch in Indore, Madhya Pradesh is part of this network and uses the IFSC code BKID0008801 for all electronic settlement.

About this branch

The branch is located at 5751 MAHATMA GANDHI ROAD INDORE. It serves the Indore region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Bank of India. The IFSC BKID0008801 is used to identify this branch on the RBI payments network.

Why every Bank of India branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including PALASIA of Bank of India — its own 11-character IFSC. The code BKID0008801 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC BKID0008801 the same way you would treat your account number — verify it once and save it carefully for future use.

How to transfer money using IFSC BKID0008801

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC BKID0008801 across all three.

NEFT to Bank of India, PALASIA using IFSC BKID0008801

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC BKID0008801, and confirm that the system picks up Bank of India – PALASIA. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC BKID0008801

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Bank of India – PALASIA, ensure your bank's portal accepts IFSC BKID0008801 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India PALASIA (IFSC BKID0008801)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0008801 in your mobile or internet banking app, and the money is credited to the PALASIA branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC BKID0008801 for Bank of India – PALASIA, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.

For most retail customers crediting the Palasia branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.

UPI payments and IFSC BKID0008801

UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Bank of India – PALASIA is still mapped to IFSC BKID0008801. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.

If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC BKID0008801 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Palasia branch is mapped to IFSC BKID0008801 on the RBI payments network. The branch generally supports the full retail product catalogue of Bank of India, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains BKID0008801.

Products and services

Customers walking into the Palasia branch can access most of Bank of India's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC BKID0008801

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Bank of India carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC BKID0008801 and the account number together uniquely identify the Palasia branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the Palasia branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC BKID0008801 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Bank of India – PALASIA:

• The IFSC is exactly BKID0008801 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Bank of India as the bank name and PALASIA as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

Reaching the branch

The Palasia branch sits at 5751 MAHATMA GANDHI ROAD INDORE. If you are travelling from outside Indore, search for the branch on a maps application using the bank name and locality, or call 731-7312434638 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC BKID0008801 and your account number.

Verifying IFSC BKID0008801 from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm BKID0008801 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 731-7312434638.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Palasia are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to BKID0008801 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0008801 belongs to Bank of India's PALASIA branch, located at 5751 MAHATMA GANDHI ROAD INDORE in INDORE, MADHYA PRADESH. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.