IFSC Code of Bank of India, Swargate Branch, Maharashtra

Use this page as a one-stop reference for everything related to Bank of India's SWARGATE branch in PUNE, MAHARASHTRA. The branch's IFSC code BKID0000508 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.

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 – SWARGATE is BKID0000508. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000508 map to this branch in PUNE, MAHARASHTRA.

Branch details at a glance

About the bank

Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Swargate branch in Pune, Maharashtra is part of this network and uses the IFSC code BKID0000508 for all electronic settlement.

Swargate branch overview

Located at 3435 PARWATI DARSHAN ROADSWAR GATE, the Swargate branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC BKID0000508 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 SWARGATE branch came to be assigned the code BKID0000508.

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 BKID0000508, money simply cannot be routed to the SWARGATE branch electronically.

How to transfer money using IFSC BKID0000508

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 BKID0000508 across all three.

How to use IFSC BKID0000508 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of India's SWARGATE 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 BKID0000508.
4. Confirm the bank name auto-populates as Bank of India and the branch as SWARGATE.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

Real-Time Gross Settlement to SWARGATE

If you need to transfer ₹2 lakh or more in one go to an account at Bank of India's SWARGATE branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC BKID0000508 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 – SWARGATE, use IMPS. With IFSC BKID0000508 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 Swargate

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 BKID0000508:

• 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 SWARGATE is still linked to IFSC BKID0000508.

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 BKID0000508

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 – SWARGATE is still mapped to IFSC BKID0000508. 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 BKID0000508 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Swargate branch is mapped to IFSC BKID0000508 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 BKID0000508.

Products and services

Customers walking into the Swargate 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 BKID0000508

MICR & cheque-truncation details

Cheques drawn on the Swargate branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0000508 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 Swargate 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 BKID0000508 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 – SWARGATE:

• The IFSC is exactly BKID0000508 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 SWARGATE 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.

How to reach the Swargate branch

The branch is located at 3435 PARWATI DARSHAN ROADSWAR GATE, which puts it inside Pune, the broader Pune district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of India Swargate branch” — the verified location pin for IFSC BKID0000508 should appear at the top of the results.
2. Confirm the branch is open by calling 9520-2024422895 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 BKID0000508 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0000508 for Bank of India – SWARGATE, 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 Swargate branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0000508, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0000508 belongs to Bank of India's SWARGATE branch, located at 3435 PARWATI DARSHAN ROADSWAR GATE in PUNE, MAHARASHTRA. 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.