IFSC Code of Bank of India, Panaji Service Branch, Goa

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, PANAJI SERVICE branch in PANAJI. The 11-digit IFSC BKID0001050 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 PANAJI SERVICE 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.

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 PANAJI SERVICE branch, the IFSC BKID0001050 breaks down as follows: BKID identifies the bank, 0 is the reserved character, and 001050 identifies this particular branch.

About Bank of India

Bank of India operates a wide network of branches across India, including the Panaji Service branch in Panaji. 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, BKID0001050.

About this branch

The branch is located at 1ST FLOOR PETER MANSIONBOCA DE VACA. It serves the Panaji 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 BKID0001050 is used to identify this branch on the RBI payments network.

Branch details at a glance

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 PANAJI SERVICE branch came to be assigned the code BKID0001050.

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 BKID0001050, money simply cannot be routed to the PANAJI SERVICE branch electronically.

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 BKID0001050 and the account number together uniquely identify the Panaji Service branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC BKID0001050

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 BKID0001050 across all three.

NEFT to Bank of India, PANAJI SERVICE using IFSC BKID0001050

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 BKID0001050, and confirm that the system picks up Bank of India – PANAJI SERVICE. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to PANAJI SERVICE

If you need to transfer ₹2 lakh or more in one go to an account at Bank of India's PANAJI SERVICE branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC BKID0001050 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Bank of India – PANAJI SERVICE, use IMPS. With IFSC BKID0001050 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 BKID0001050 for Bank of India – PANAJI SERVICE, 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 Panaji Service 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 BKID0001050

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 – PANAJI SERVICE is still mapped to IFSC BKID0001050. 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 BKID0001050 and the beneficiary's account number to complete the transfer.

Account types you can open at the Panaji Service branch

Once you have an account at Bank of India – PANAJI SERVICE, the IFSC BKID0001050 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 Panaji Service 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 BKID0001050

Online banking and IFSC BKID0001050

Bank of India customers can register for net banking and the bank's official mobile app once their account at the PANAJI SERVICE 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 BKID0001050 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.

How to reach the Panaji Service branch

The branch is located at 1ST FLOOR PETER MANSIONBOCA DE VACA, which puts it inside Panaji, the broader Panaji district, and the state of Goa. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of India Panaji Service branch” — the verified location pin for IFSC BKID0001050 should appear at the top of the results.
2. Confirm the branch is open by calling 832-8322420221 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC BKID0001050 and your account number.

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 – PANAJI SERVICE:

• The IFSC is exactly BKID0001050 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 PANAJI SERVICE 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.

Branch banking hours and holidays

Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Panaji Service branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0001050, however, work 24x7.

Verifying IFSC BKID0001050 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 BKID0001050 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 832-8322420221.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0001050 belongs to Bank of India's PANAJI SERVICE branch, located at 1ST FLOOR PETER MANSIONBOCA DE VACA in PANAJI, GOA. 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.