IFSC Code of Indian Bank, Paramathi Branch, Tamil Nadu

Use this page as a one-stop reference for everything related to Indian Bank's PARAMATHI branch in PARAMATHI, TAMIL NADU. The branch's IFSC code IDIB000P021 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.

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 Indian Bank's PARAMATHI branch, the IFSC IDIB000P021 breaks down as follows: IDIB identifies the bank, 0 is the reserved character, and 00P021 identifies this particular branch.

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 Paramathi branch — IFSC IDIB000P021 — extends the bank's services to customers in and around Paramathi, Tamil Nadu.

Paramathi branch overview

Located at 9A MAIN ROAD PARAMATHI PARAMATHI PIN 637207, the Paramathi branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IDIB000P021 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 PARAMATHI of Indian Bank — its own 11-character IFSC. The code IDIB000P021 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 IDIB000P021 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 IDIB000P021

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 IDIB000P021 across all three.

How to use IFSC IDIB000P021 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Bank's PARAMATHI 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 IDIB000P021.
4. Confirm the bank name auto-populates as Indian Bank and the branch as PARAMATHI.
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 PARAMATHI

If you need to transfer ₹2 lakh or more in one go to an account at Indian Bank's PARAMATHI branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IDIB000P021 while initiating the transfer and the credit will appear within minutes.

IMPS to Indian Bank PARAMATHI (IFSC IDIB000P021)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IDIB000P021 in your mobile or internet banking app, and the money is credited to the PARAMATHI branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Paramathi

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 IDIB000P021:

• 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 PARAMATHI is still linked to IFSC IDIB000P021.

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 IDIB000P021

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 – PARAMATHI is still mapped to IFSC IDIB000P021. 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 IDIB000P021 and the beneficiary's account number to complete the transfer.

Account types you can open at the Paramathi branch

Once you have an account at Indian Bank – PARAMATHI, the IFSC IDIB000P021 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 Paramathi 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 IDIB000P021

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 IDIB000P021 and the account number together uniquely identify the Paramathi 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 Paramathi 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 IDIB000P021 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 – PARAMATHI:

• The IFSC is exactly IDIB000P021 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 PARAMATHI 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 Paramathi branch sits at 9A MAIN ROAD PARAMATHI PARAMATHI PIN 637207. If you are travelling from outside Paramathi, search for the branch on a maps application using the bank name and locality, or call 4268-251725 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 IDIB000P021 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IDIB000P021 for Indian Bank – PARAMATHI, 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 Paramathi branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IDIB000P021, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IDIB000P021 belongs to Indian Bank's PARAMATHI branch, located at 9A MAIN ROAD PARAMATHI PARAMATHI PIN 637207 in PARAMATHI, TAMIL NADU. 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.