IFSC Code of Indian Overseas Bank, Tolstoy Marg Branch, Delhi

If you are searching for the IFSC code of Indian Overseas Bank, TOLSTOY MARG branch in DELHI, DELHI, this page has every detail you need. The verified IFSC code for this branch is IOBA0000531. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the TOLSTOY MARG branch, and detailed step-by-step guides for using the IFSC IOBA0000531 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular branch.

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 Overseas Bank's TOLSTOY MARG branch, the IFSC IOBA0000531 breaks down as follows: IOBA identifies the bank, 0 is the reserved character, and 000531 identifies this particular branch.

About Indian Overseas Bank

Indian Overseas Bank operates a wide network of branches across India, including the Tolstoy Marg branch in Delhi. 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, IOBA0000531.

About this branch

The branch is located at NO 7, PRAKASH DEEP BUILDING, TOLSTOY MARG, NEW DELHI - 110001. It serves the Delhi 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 IOBA0000531 is used to identify this branch on the RBI payments network.

Branch details at a glance

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 TOLSTOY MARG of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0000531 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 IOBA0000531 the same way you would treat your account number — verify it once and save it carefully for future use.

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 IOBA0000531 and the account number together uniquely identify the Tolstoy Marg branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC IOBA0000531

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 IOBA0000531 across all three.

How to use IFSC IOBA0000531 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's TOLSTOY MARG 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 IOBA0000531.
4. Confirm the bank name auto-populates as Indian Overseas Bank and the branch as TOLSTOY MARG.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC IOBA0000531

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 – TOLSTOY MARG, ensure your bank's portal accepts IFSC IOBA0000531 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Indian Overseas Bank TOLSTOY MARG (IFSC IOBA0000531)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IOBA0000531 in your mobile or internet banking app, and the money is credited to the TOLSTOY MARG branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Tolstoy Marg

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 IOBA0000531:

• 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 TOLSTOY MARG is still linked to IFSC IOBA0000531.

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 IOBA0000531

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 – TOLSTOY MARG is still mapped to IFSC IOBA0000531. 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 IOBA0000531 and the beneficiary's account number to complete the transfer.

Account types you can open at the Tolstoy Marg branch

Once you have an account at Indian Overseas Bank – TOLSTOY MARG, the IFSC IOBA0000531 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 Tolstoy Marg branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 23319556.

• 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 IOBA0000531

Digital banking channels

Most day-to-day work that customers used to do at the Tolstoy Marg 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 IOBA0000531 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 Tolstoy Marg branch sits at NO 7, PRAKASH DEEP BUILDING, TOLSTOY MARG, NEW DELHI - 110001. If you are travelling from outside Delhi, search for the branch on a maps application using the bank name and locality, or call 23319556 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 IOBA0000531 and your account number.

Common mistakes to avoid when using IFSC IOBA0000531

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 – TOLSTOY MARG, 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: IOBA0000531.
• 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.

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 Tolstoy Marg branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0000531, however, work 24x7.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IOBA0000531 for Indian Overseas Bank – TOLSTOY MARG, 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

Summary

The IFSC code IOBA0000531 belongs to Indian Overseas Bank's TOLSTOY MARG branch, located at NO 7, PRAKASH DEEP BUILDING, TOLSTOY MARG, NEW DELHI - 110001 in DELHI, DELHI. 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.