Use this page as a one-stop reference for everything related to Indian Overseas Bank's BORIM branch in BORIM, GOA. The branch's IFSC code IOBA0000537 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 Indian Overseas Bank – BORIM is IOBA0000537. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000537 map to this branch in BORIM, GOA.
About the bank
Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Borim branch in Borim, Goa is part of this network and uses the IFSC code IOBA0000537 for all electronic settlement.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Borim |
| IFSC Code | IOBA0000537 |
| MICR Code | Refer to cheque leaf |
| Branch Address | V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401 |
| City | Borim |
| District | North Goa |
| State | Goa |
| Phone | 2333334 |
About the Borim branch
The Borim branch of Indian Overseas Bank is situated at V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401. 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 IOBA0000537 is used.
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 BORIM branch came to be assigned the code IOBA0000537.
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 IOBA0000537, money simply cannot be routed to the BORIM branch electronically.
Account types you can open at the Borim branch
Once you have an account at Indian Overseas Bank – BORIM, the IFSC IOBA0000537 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.
Banking services available
The Borim branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2333334.
- Savings, current and salary accounts
- Fixed deposits and recurring deposits
- Personal, vehicle and home loans
- Demat and investment products (where supported)
- Internet banking and mobile banking enrolment
- Debit and credit card issuance
- Locker facilities (subject to availability)
- Foreign exchange services (at authorised branches)
- Bill payments, demand drafts and pay orders
- NEFT / RTGS / IMPS / UPI fund transfers using IFSC IOBA0000537
How to transfer money using IFSC IOBA0000537
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 IOBA0000537 across all three.
NEFT to Indian Overseas Bank, BORIM using IFSC IOBA0000537
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 IOBA0000537, and confirm that the system picks up Indian Overseas Bank – BORIM. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
RTGS transfers via IFSC IOBA0000537
RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Indian Overseas Bank – BORIM, ensure your bank's portal accepts IFSC IOBA0000537 while registering the beneficiary. RTGS is also available 24x7.
IMPS to Indian Overseas Bank BORIM (IFSC IOBA0000537)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IOBA0000537 in your mobile or internet banking app, and the money is credited to the BORIM branch account within seconds.
Comparing NEFT, RTGS and IMPS for transfers to Borim
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 IOBA0000537:
- 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 BORIM is still linked to IFSC IOBA0000537.
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 IOBA0000537
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 – BORIM is still mapped to IFSC IOBA0000537. 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 IOBA0000537 and the beneficiary's account number to complete the transfer.
Online banking and IFSC IOBA0000537
Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the BORIM 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 IOBA0000537 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.
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 IOBA0000537 and the account number together uniquely identify the Borim branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
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 Overseas Bank – BORIM:
- The IFSC is exactly IOBA0000537 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Indian Overseas Bank as the bank name and BORIM 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 Borim branch sits at V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401. If you are travelling from outside Borim, search for the branch on a maps application using the bank name and locality, or call 2333334 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 IOBA0000537 and your account number.
Verifying IFSC IOBA0000537 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 IOBA0000537 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 2333334.
- Visiting the bank's official branch locator page.
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 Borim branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0000537, however, work 24x7.
Branch address & contact
Indian Overseas BankBorim Branch
V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401
Borim, Goa
Phone: 2333334
IFSC: IOBA0000537
Frequently asked questions
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Borim branch but serve different purposes.
What is the IFSC code of Indian Overseas Bank Borim branch?
The IFSC code of Indian Overseas Bank, Borim branch is IOBA0000537. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
What is the phone number of Indian Overseas Bank Borim branch?
You can reach the branch at 2333334 during regular banking hours.
Is IFSC IOBA0000537 the same for all accounts at Borim branch?
Yes. The IFSC IOBA0000537 is shared by every account held at Indian Overseas Bank's Borim branch. Only the account number changes from customer to customer.
Is IFSC IOBA0000537 valid for NEFT and RTGS?
Yes. IFSC IOBA0000537 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Where is Indian Overseas Bank Borim branch located?
Indian Overseas Bank's Borim branch is located at V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401, Borim, Goa.
Summary
The IFSC code IOBA0000537 belongs to Indian Overseas Bank's BORIM branch, located at V 235 LAXMIBAI SAWKAR BLDG,PONDA ROAD BORIM PIN 403401 in BORIM, 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.
