Below are the complete branch details for Indian Overseas Bank, BESANT NAGAR branch, located in CHENNAI, TAMIL NADU. The IFSC assigned by the Reserve Bank of India to this branch is IOBA0000258. 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 IOBA0000258 for Indian Overseas Bank – BESANT NAGAR — 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 – BESANT NAGAR is IOBA0000258. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000258 map to this branch in CHENNAI, TAMIL NADU.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Besant Nagar |
| IFSC Code | IOBA0000258 |
| MICR Code | Refer to cheque leaf |
| Branch Address | E 140 B, 3 RD MAIN ROAD, BESANT ROAD, CHENNAI - 600090 |
| City | Chennai |
| District | Chennai |
| State | Tamil Nadu |
| Phone | 24910245 |
About the bank
Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Besant Nagar branch in Chennai, Tamil Nadu is part of this network and uses the IFSC code IOBA0000258 for all electronic settlement.
About this branch
The branch is located at E 140 B, 3 RD MAIN ROAD, BESANT ROAD, CHENNAI - 600090. It serves the Chennai region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Indian Overseas Bank. The IFSC IOBA0000258 is used to identify this branch on the RBI payments network.
Why every Indian Overseas 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 BESANT NAGAR of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0000258 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 IOBA0000258 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 IOBA0000258
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 IOBA0000258 across all three.
How to use IFSC IOBA0000258 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's BESANT NAGAR 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).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC IOBA0000258.
- Confirm the bank name auto-populates as Indian Overseas Bank and the branch as BESANT NAGAR.
- 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 BESANT NAGAR
If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's BESANT NAGAR branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0000258 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 – BESANT NAGAR, use IMPS. With IFSC IOBA0000258 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC IOBA0000258 for Indian Overseas Bank – BESANT NAGAR, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – IOBA0000258 | Yes – IOBA0000258 | Yes – IOBA0000258 |
For most retail customers crediting the Besant Nagar branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.
UPI payments and IFSC IOBA0000258
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 – BESANT NAGAR is still mapped to IFSC IOBA0000258. 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 IOBA0000258 and the beneficiary's account number to complete the transfer.
Products and account variants supported
Every account opened at the Besant Nagar branch is mapped to IFSC IOBA0000258 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 IOBA0000258.
Banking services available
The Besant Nagar branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 24910245.
- 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 IOBA0000258
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 IOBA0000258 and the account number together uniquely identify the Besant Nagar 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 Besant Nagar 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 IOBA0000258 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 Overseas Bank – BESANT NAGAR:
- The IFSC is exactly IOBA0000258 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 BESANT NAGAR 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 Besant Nagar branch
The branch is located at E 140 B, 3 RD MAIN ROAD, BESANT ROAD, CHENNAI - 600090, which puts it inside Chennai, the broader Chennai district, and the state of Tamil Nadu. To plan your visit:
- Open Google Maps on your phone and search for “Indian Overseas Bank Besant Nagar branch” — the verified location pin for IFSC IOBA0000258 should appear at the top of the results.
- Confirm the branch is open by calling 24910245 before stepping out, especially around public holidays.
- 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 IOBA0000258 and your account number.
Verifying IFSC IOBA0000258 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 IOBA0000258 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 24910245.
- 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 Besant Nagar branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0000258, however, work 24x7.
Branch address & contact
Indian Overseas BankBesant Nagar Branch
E 140 B, 3 RD MAIN ROAD, BESANT ROAD, CHENNAI - 600090
Chennai, Tamil Nadu
Phone: 24910245
IFSC: IOBA0000258
Frequently asked questions
What is the IFSC code of Indian Overseas Bank Besant Nagar branch?
The IFSC code of Indian Overseas Bank, Besant Nagar branch is IOBA0000258. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Can I use IFSC IOBA0000258 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC IOBA0000258 to send funds instantly.
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 Besant Nagar branch but serve different purposes.
Does Indian Overseas Bank Besant Nagar branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 24910245 to confirm.
How quickly will an NEFT transfer using IOBA0000258 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Indian Overseas Bank – Besant Nagar reflect within 30 minutes.
What is the phone number of Indian Overseas Bank Besant Nagar branch?
You can reach the branch at 24910245 during regular banking hours.
Is IFSC IOBA0000258 valid for NEFT and RTGS?
Yes. IFSC IOBA0000258 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Summary
The IFSC code IOBA0000258 belongs to Indian Overseas Bank's BESANT NAGAR branch, located at E 140 B, 3 RD MAIN ROAD, BESANT ROAD, CHENNAI - 600090 in CHENNAI, 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.
