IFSC Code of Bank of India, Phagwara SME Branch, Punjab

If you are searching for the IFSC code of Bank of India, PHAGWARA SME branch in PHAGWARA, PUNJAB, this page has every detail you need. The verified IFSC code for this branch is BKID0006391. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the PHAGWARA SME branch, and detailed step-by-step guides for using the IFSC BKID0006391 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular 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 – PHAGWARA SME is BKID0006391. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 006391 map to this branch in PHAGWARA, PUNJAB.

Branch details at a glance

Bank profile

Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The Phagwara SME branch — IFSC BKID0006391 — extends the bank's services to customers in and around Phagwara, Punjab.

About the Phagwara SME branch

The Phagwara SME branch of Bank of India is situated at G T ROAD PHAGWARADISTT KAPURTHALA. 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 BKID0006391 is used.

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 PHAGWARA SME of Bank of India — its own 11-character IFSC. The code BKID0006391 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 BKID0006391 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 BKID0006391

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 BKID0006391 across all three.

How to use IFSC BKID0006391 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of India's PHAGWARA SME 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 BKID0006391.
4. Confirm the bank name auto-populates as Bank of India and the branch as PHAGWARA SME.
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 BKID0006391

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 – PHAGWARA SME, ensure your bank's portal accepts IFSC BKID0006391 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India PHAGWARA SME (IFSC BKID0006391)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0006391 in your mobile or internet banking app, and the money is credited to the PHAGWARA SME branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Phagwara SME

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 BKID0006391:

• 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 PHAGWARA SME is still linked to IFSC BKID0006391.

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.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Bank of India's PHAGWARA SME branch, the IFSC BKID0006391 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Account types you can open at the Phagwara SME branch

Once you have an account at Bank of India – PHAGWARA SME, the IFSC BKID0006391 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 Phagwara SME 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 BKID0006391

MICR & cheque-truncation details

Cheques drawn on the Phagwara SME branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0006391 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Digital banking channels

Most day-to-day work that customers used to do at the Phagwara SME 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 BKID0006391 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 – PHAGWARA SME:

• The IFSC is exactly BKID0006391 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 PHAGWARA SME 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 Phagwara SME branch sits at G T ROAD PHAGWARADISTT KAPURTHALA. If you are travelling from outside Phagwara, search for the branch on a maps application using the bank name and locality, or call 1824-1824260463 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 BKID0006391 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0006391 for Bank of India – PHAGWARA SME, 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 Phagwara SME branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0006391, however, work 24x7.

Branch address & contact

Frequently asked questions

Final notes

To recap: BKID0006391 is the IFSC code of Bank of India, PHAGWARA SME branch, in PHAGWARA, PUNJAB. 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.