Use this page as a one-stop reference for everything related to Bank of India's MALGAON branch in MALGAON DIST SANGLI, MAHARASHTRA. The branch's IFSC code BKID0001601 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.
An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.
For Bank of India's MALGAON branch, the IFSC BKID0001601 breaks down as follows: BKID identifies the bank, 0 is the reserved character, and 001601 identifies this particular branch.
About Bank of India
Bank of India operates a wide network of branches across India, including the Malgaon branch in Malgaon Dist Sangli. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, BKID0001601.
Branch details at a glance
| Bank Name | Bank of India |
|---|---|
| Branch | Malgaon |
| IFSC Code | BKID0001601 |
| MICR Code | Refer to cheque leaf |
| Branch Address | MALGAONDISTRICT SANGLI |
| City | Malgaon Dist Sangli |
| District | Malgaon Dist Sangli |
| State | Maharashtra |
| STD Code | 233 |
| Phone | 2332266631 |
About the Malgaon branch
The Malgaon branch of Bank of India is situated at MALGAONDISTRICT SANGLI. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code BKID0001601 is used.
The role of IFSC in India's payments network
India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Bank of India's MALGAON branch came to be assigned the code BKID0001601.
Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC BKID0001601, money simply cannot be routed to the MALGAON branch electronically.
Products and account variants supported
Every account opened at the Malgaon branch is mapped to IFSC BKID0001601 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 BKID0001601.
Banking services available
The Malgaon branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 233-2332266631.
- Savings, current and salary accounts
- Fixed deposits and recurring deposits
- Personal, vehicle and home loans
- Demat and investment products (where supported)
- Internet banking and mobile banking enrolment
- Debit and credit card issuance
- Locker facilities (subject to availability)
- Foreign exchange services (at authorised branches)
- Bill payments, demand drafts and pay orders
- NEFT / RTGS / IMPS / UPI fund transfers using IFSC BKID0001601
How to transfer money using IFSC BKID0001601
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 BKID0001601 across all three.
NEFT to Bank of India, MALGAON using IFSC BKID0001601
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 BKID0001601, and confirm that the system picks up Bank of India – MALGAON. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
RTGS transfers via IFSC BKID0001601
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 – MALGAON, ensure your bank's portal accepts IFSC BKID0001601 while registering the beneficiary. RTGS is also available 24x7.
Send money instantly through IMPS
For a real-time, anytime transfer to Bank of India – MALGAON, use IMPS. With IFSC BKID0001601 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
Comparing NEFT, RTGS and IMPS for transfers to Malgaon
The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC BKID0001601:
- NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
- RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
- IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
- UPI — best for small peer-to-peer payments using a VPA; the underlying account at MALGAON is still linked to IFSC BKID0001601.
For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.
UPI payments and IFSC BKID0001601
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 – MALGAON is still mapped to IFSC BKID0001601. 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 BKID0001601 and the beneficiary's account number to complete the transfer.
Online banking and IFSC BKID0001601
Bank of India customers can register for net banking and the bank's official mobile app once their account at the MALGAON branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC BKID0001601 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.
MICR & cheque-truncation details
Cheques drawn on the Malgaon branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0001601 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Common mistakes to avoid when using IFSC BKID0001601
An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Bank of India – MALGAON, double-check for these issues:
- Confusing 0 with O. The fifth character of every IFSC is the digit
0, not the letter O. Read carefully. - Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters:
BKID0001601. - Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
- Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
- Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.
Reaching the branch
The Malgaon branch sits at MALGAONDISTRICT SANGLI. If you are travelling from outside Malgaon Dist Sangli, search for the branch on a maps application using the bank name and locality, or call 233-2332266631 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 BKID0001601 and your account number.
Verifying IFSC BKID0001601 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 BKID0001601 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 233-2332266631.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Malgaon 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 BKID0001601 continue to work without interruption.
Branch address & contact
Bank of IndiaMalgaon Branch
MALGAONDISTRICT SANGLI
Malgaon Dist Sangli, Maharashtra
Phone: 233-2332266631
IFSC: BKID0001601
Frequently asked questions
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Malgaon branch but serve different purposes.
What is the phone number of Bank of India Malgaon branch?
You can reach the branch at 233-2332266631 during regular banking hours.
What is the IFSC code of Bank of India Malgaon branch?
The IFSC code of Bank of India, Malgaon branch is BKID0001601. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Where is Bank of India Malgaon branch located?
Bank of India's Malgaon branch is located at MALGAONDISTRICT SANGLI, Malgaon Dist Sangli, Maharashtra.
How do I add Bank of India Malgaon as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC BKID0001601, and complete OTP verification. Once activated, you can transfer funds at any time.
Does Bank of India Malgaon branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 233-2332266631 to confirm.
Is IFSC BKID0001601 valid for NEFT and RTGS?
Yes. IFSC BKID0001601 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Final notes
To recap: BKID0001601 is the IFSC code of Bank of India, MALGAON branch, in MALGAON DIST SANGLI, MAHARASHTRA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.
