IFSC Code of Indian Bank, Phase V Mohali Branch, Punjab

Below are the complete branch details for Indian Bank, PHASE V MOHALI branch, located in MOHALI, PUNJAB. The IFSC assigned by the Reserve Bank of India to this branch is IDIB000P204. 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 IDIB000P204 for Indian Bank – PHASE V MOHALI — 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 Indian Bank – PHASE V MOHALI is IDIB000P204. The first four letters IDIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 00P204 map to this branch in MOHALI, PUNJAB.

Branch details at a glance

Bank profile

Indian Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Phase V Mohali branch — IFSC IDIB000P204 — extends the bank's services to customers in and around Mohali, Punjab.

Phase V Mohali branch overview

Located at SCF 23 PHASE V MOHALI PIN 160059, the Phase V Mohali branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IDIB000P204 is required for all interbank electronic transfers routed through this branch.

Why every Indian Bank 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 PHASE V MOHALI of Indian Bank — its own 11-character IFSC. The code IDIB000P204 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 IDIB000P204 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 IDIB000P204

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 IDIB000P204 across all three.

How to use IFSC IDIB000P204 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Bank's PHASE V MOHALI 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 IDIB000P204.
4. Confirm the bank name auto-populates as Indian Bank and the branch as PHASE V MOHALI.
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 PHASE V MOHALI

If you need to transfer ₹2 lakh or more in one go to an account at Indian Bank's PHASE V MOHALI branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IDIB000P204 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Indian Bank – PHASE V MOHALI, use IMPS. With IFSC IDIB000P204 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 Phase V Mohali

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 IDIB000P204:

• 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 PHASE V MOHALI is still linked to IFSC IDIB000P204.

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 IDIB000P204

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 Indian Bank – PHASE V MOHALI is still mapped to IFSC IDIB000P204. 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 IDIB000P204 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Phase V Mohali branch is mapped to IFSC IDIB000P204 on the RBI payments network. The branch generally supports the full retail product catalogue of Indian Bank, 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 IDIB000P204.

Products and services

Customers walking into the Phase V Mohali branch can access most of Indian Bank'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 IDIB000P204

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Indian Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC IDIB000P204 and the account number together uniquely identify the Phase V Mohali branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the Phase V Mohali 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 IDIB000P204 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 Indian Bank – PHASE V MOHALI:

• The IFSC is exactly IDIB000P204 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Indian Bank as the bank name and PHASE V MOHALI 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 Phase V Mohali branch

The branch is located at SCF 23 PHASE V MOHALI PIN 160059, which puts it inside Mohali, the broader Sahibzada Ajit Singh Nagar district, and the state of Punjab. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Bank Phase V Mohali branch” — the verified location pin for IFSC IDIB000P204 should appear at the top of the results.
2. Confirm the branch is open by calling 172-5094977 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 IDIB000P204 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IDIB000P204 for Indian Bank – PHASE V MOHALI, 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 Phase V Mohali 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 IDIB000P204 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IDIB000P204 belongs to Indian Bank's PHASE V MOHALI branch, located at SCF 23 PHASE V MOHALI PIN 160059 in MOHALI, PUNJAB. 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.