IFSC Code of Bank of India, Peshrar Branch, Jharkhand

Below are the complete branch details for Bank of India, PESHRAR branch, located in PESHRAR JHARKHAND, JHARKHAND. The IFSC assigned by the Reserve Bank of India to this branch is BKID0004981. 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 BKID0004981 for Bank of India – PESHRAR — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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 PESHRAR branch, the IFSC BKID0004981 breaks down as follows: BKID identifies the bank, 0 is the reserved character, and 004981 identifies this particular branch.

About the bank

Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Peshrar branch in Peshrar Jharkhand, Jharkhand is part of this network and uses the IFSC code BKID0004981 for all electronic settlement.

Branch details at a glance

Peshrar branch overview

Located at PANCHAYAT BHAVAN AT PO PESHRARDIST LOHARDAGA, the Peshrar branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC BKID0004981 is required for all interbank electronic transfers routed through this branch.

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 PESHRAR of Bank of India — its own 11-character IFSC. The code BKID0004981 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 BKID0004981 the same way you would treat your account number — verify it once and save it carefully for future use.

Account types you can open at the Peshrar branch

Once you have an account at Bank of India – PESHRAR, the IFSC BKID0004981 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 Peshrar 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 BKID0004981

How to transfer money using IFSC BKID0004981

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 BKID0004981 across all three.

NEFT to Bank of India, PESHRAR using IFSC BKID0004981

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 BKID0004981, and confirm that the system picks up Bank of India – PESHRAR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC BKID0004981

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 – PESHRAR, ensure your bank's portal accepts IFSC BKID0004981 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India PESHRAR (IFSC BKID0004981)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0004981 in your mobile or internet banking app, and the money is credited to the PESHRAR branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Peshrar

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 BKID0004981:

• 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 PESHRAR is still linked to IFSC BKID0004981.

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 BKID0004981

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 – PESHRAR is still mapped to IFSC BKID0004981. 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 BKID0004981 and the beneficiary's account number to complete the transfer.

Online banking and IFSC BKID0004981

Bank of India customers can register for net banking and the bank's official mobile app once their account at the PESHRAR 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 BKID0004981 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 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 BKID0004981 and the account number together uniquely identify the Peshrar branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Common mistakes to avoid when using IFSC BKID0004981

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 – PESHRAR, 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: BKID0004981.
• 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.

How to reach the Peshrar branch

The branch is located at PANCHAYAT BHAVAN AT PO PESHRARDIST LOHARDAGA, which puts it inside Peshrar Jharkhand, the broader Peshrar Jharkhand district, and the state of Jharkhand. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of India Peshrar branch” — the verified location pin for IFSC BKID0004981 should appear at the top of the results.
2. Confirm the branch is open by calling 91-9425909694 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 BKID0004981 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0004981 for Bank of India – PESHRAR, 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.

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 Peshrar branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0004981, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0004981 belongs to Bank of India's PESHRAR branch, located at PANCHAYAT BHAVAN AT PO PESHRARDIST LOHARDAGA in PESHRAR JHARKHAND, JHARKHAND. 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.