IFSC Code of Indian Overseas Bank, Mulgaon Goa Branch, Goa

Below are the complete branch details for Indian Overseas Bank, MULGAON GOA branch, located in ASSONORA, GOA. The IFSC assigned by the Reserve Bank of India to this branch is IOBA0000694. 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 IOBA0000694 for Indian Overseas Bank – MULGAON GOA — 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 Overseas Bank – MULGAON GOA is IOBA0000694. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000694 map to this branch in ASSONORA, GOA.

About Indian Overseas Bank

Indian Overseas Bank operates a wide network of branches across India, including the Mulgaon Goa branch in Assonora. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, IOBA0000694.

Mulgaon Goa branch overview

Located at E 9 BHAGWADA,MULGAON,BICHOLIM TALUK,P.O. ASSANORA GOA,MULGAON,PIN 403503, the Mulgaon Goa branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IOBA0000694 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

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 Indian Overseas Bank's MULGAON GOA branch came to be assigned the code IOBA0000694.

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 IOBA0000694, money simply cannot be routed to the MULGAON GOA branch electronically.

MICR & cheque-truncation details

Cheques drawn on the Mulgaon Goa branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0000694 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

How to transfer money using IFSC IOBA0000694

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 IOBA0000694 across all three.

NEFT to Indian Overseas Bank, MULGAON GOA using IFSC IOBA0000694

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 IOBA0000694, and confirm that the system picks up Indian Overseas Bank – MULGAON GOA. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to MULGAON GOA

If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's MULGAON GOA branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0000694 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Indian Overseas Bank – MULGAON GOA, use IMPS. With IFSC IOBA0000694 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 Mulgaon Goa

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 IOBA0000694:

• 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 MULGAON GOA is still linked to IFSC IOBA0000694.

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 IOBA0000694

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 Overseas Bank – MULGAON GOA is still mapped to IFSC IOBA0000694. 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 IOBA0000694 and the beneficiary's account number to complete the transfer.

Account types you can open at the Mulgaon Goa branch

Once you have an account at Indian Overseas Bank – MULGAON GOA, the IFSC IOBA0000694 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 Mulgaon Goa branch can access most of Indian Overseas 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 IOBA0000694

Online banking and IFSC IOBA0000694

Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the MULGAON GOA 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 IOBA0000694 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.

How to reach the Mulgaon Goa branch

The branch is located at E 9 BHAGWADA,MULGAON,BICHOLIM TALUK,P.O. ASSANORA GOA,MULGAON,PIN 403503, which puts it inside Assonora, the broader North Goa district, and the state of Goa. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Overseas Bank Mulgaon Goa branch” — the verified location pin for IFSC IOBA0000694 should appear at the top of the results.
2. Confirm the branch is open by calling 2215235 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 IOBA0000694 and your account number.

Common mistakes to avoid when using IFSC IOBA0000694

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 Indian Overseas Bank – MULGAON GOA, 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: IOBA0000694.
• 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.

Working hours

Branch counters at Mulgaon Goa 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 IOBA0000694 continue to work without interruption.

Verifying IFSC IOBA0000694 from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm IOBA0000694 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 2215235.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IOBA0000694 belongs to Indian Overseas Bank's MULGAON GOA branch, located at E 9 BHAGWADA,MULGAON,BICHOLIM TALUK,P.O. ASSANORA GOA,MULGAON,PIN 403503 in ASSONORA, GOA. 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.