IFSC Code of Indian Overseas Bank, Banur Branch, Punjab

Use this page as a one-stop reference for everything related to Indian Overseas Bank's BANUR branch in BANUR, PUNJAB. The branch's IFSC code IOBA0002346 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.

IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.

In our case, IOBA0002346 is the IFSC of Indian Overseas Bank's BANUR branch. The format is fixed: IOBA = bank code, 0 = reserved, 002346 = branch identifier.

About the bank

Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Banur branch in Banur, Punjab is part of this network and uses the IFSC code IOBA0002346 for all electronic settlement.

About the Banur branch

The Banur branch of Indian Overseas Bank is situated at OPP TO GURUDWARA MAIN ROAD BANUR,CITY TOWN BANUR DISTRICT SAS NAGAR STATE PUNJAB. 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 IOBA0002346 is used.

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 BANUR branch came to be assigned the code IOBA0002346.

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 IOBA0002346, money simply cannot be routed to the BANUR branch electronically.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Indian Overseas Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC IOBA0002346 and the account number together uniquely identify the Banur branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC IOBA0002346

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 IOBA0002346 across all three.

NEFT to Indian Overseas Bank, BANUR using IFSC IOBA0002346

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 IOBA0002346, and confirm that the system picks up Indian Overseas Bank – BANUR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to BANUR

If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's BANUR branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0002346 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 – BANUR, use IMPS. With IFSC IOBA0002346 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 Banur

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 IOBA0002346:

• 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 BANUR is still linked to IFSC IOBA0002346.

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 Indian Overseas Bank's BANUR branch, the IFSC IOBA0002346 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.

Products and account variants supported

Every account opened at the Banur branch is mapped to IFSC IOBA0002346 on the RBI payments network. The branch generally supports the full retail product catalogue of Indian Overseas 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 IOBA0002346.

Products and services

Customers walking into the Banur 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 IOBA0002346

Digital banking channels

Most day-to-day work that customers used to do at the Banur 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 IOBA0002346 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.

Reaching the branch

The Banur branch sits at OPP TO GURUDWARA MAIN ROAD BANUR,CITY TOWN BANUR DISTRICT SAS NAGAR STATE PUNJAB. If you are travelling from outside Banur, search for the branch on a maps application using the bank name and locality, or call 252055 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 IOBA0002346 and your account number.

Common mistakes to avoid when using IFSC IOBA0002346

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 – BANUR, 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: IOBA0002346.
• 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 Banur 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 IOBA0002346 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IOBA0002346 for Indian Overseas Bank – BANUR, 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 address & contact

Frequently asked questions

Final notes

To recap: IOBA0002346 is the IFSC code of Indian Overseas Bank, BANUR branch, in BANUR, 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.