IFSC Code of Bank of India, Paranda Branch, Maharashtra

Below are the complete branch details for Bank of India, PARANDA branch, located in OSMANABAD, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is BKID0000758. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case BKID0000758 for Bank of India – PARANDA — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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 – PARANDA is BKID0000758. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000758 map to this branch in OSMANABAD, MAHARASHTRA.

Bank profile

Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The Paranda branch — IFSC BKID0000758 — extends the bank's services to customers in and around Osmanabad, Maharashtra.

Branch details at a glance

Paranda branch overview

Located at PATEL COMPLEX MAIN ROAD NEAR PARANDA POLICESTATION PARANDA TAL PARANDA DIST SOLAPUR, the Paranda branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC BKID0000758 is required for all interbank electronic transfers routed through this branch.

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 PARANDA branch came to be assigned the code BKID0000758.

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 BKID0000758, money simply cannot be routed to the PARANDA branch electronically.

Account types you can open at the Paranda branch

Once you have an account at Bank of India – PARANDA, the IFSC BKID0000758 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Paranda 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 BKID0000758

How to transfer money using IFSC BKID0000758

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 BKID0000758 across all three.

How to use IFSC BKID0000758 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of India's PARANDA branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC BKID0000758.
4. Confirm the bank name auto-populates as Bank of India and the branch as PARANDA.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC BKID0000758

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 – PARANDA, ensure your bank's portal accepts IFSC BKID0000758 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Bank of India – PARANDA, use IMPS. With IFSC BKID0000758 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

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

All three modes accept the IFSC BKID0000758 for Bank of India – PARANDA, 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 Paranda 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 BKID0000758

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 – PARANDA is still mapped to IFSC BKID0000758. 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 BKID0000758 and the beneficiary's account number to complete the transfer.

Online banking and IFSC BKID0000758

Bank of India customers can register for net banking and the bank's official mobile app once their account at the PARANDA 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 BKID0000758 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 Paranda branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0000758 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 BKID0000758

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 – PARANDA, 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: BKID0000758.
• 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 Paranda branch sits at PATEL COMPLEX MAIN ROAD NEAR PARANDA POLICESTATION PARANDA TAL PARANDA DIST SOLAPUR. If you are travelling from outside Osmanabad, search for the branch on a maps application using the bank name and locality, or call 91-7283233038 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 BKID0000758 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0000758 for Bank of India – PARANDA, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Working hours

Branch counters at Paranda 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 BKID0000758 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: BKID0000758 is the IFSC code of Bank of India, PARANDA branch, in OSMANABAD, 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.