Use this page as a one-stop reference for everything related to Indian Overseas Bank's DERABASSI branch in DERA BASSI, PUNJAB. The branch's IFSC code IOBA0001737 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, IOBA0001737 is the IFSC of Indian Overseas Bank's DERABASSI branch. The format is fixed: IOBA = bank code, 0 = reserved, 001737 = branch identifier.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Derabassi |
| IFSC Code | IOBA0001737 |
| MICR Code | Refer to cheque leaf |
| Branch Address | CHANDIGARHAMBALA NAT HIGHWAY,NEAR SUKHMANI INST OF ENG TECH,DERABASSI |
| City | Dera Bassi |
| District | Patiala |
| State | Punjab |
| STD Code | 44 |
| Phone | 28584896 |
Bank profile
Indian Overseas Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Derabassi branch — IFSC IOBA0001737 — extends the bank's services to customers in and around Dera Bassi, Punjab.
About the Derabassi branch
The Derabassi branch of Indian Overseas Bank is situated at CHANDIGARHAMBALA NAT HIGHWAY,NEAR SUKHMANI INST OF ENG TECH,DERABASSI. 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 IOBA0001737 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 DERABASSI branch came to be assigned the code IOBA0001737.
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 IOBA0001737, money simply cannot be routed to the DERABASSI branch electronically.
How to transfer money using IFSC IOBA0001737
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 IOBA0001737 across all three.
NEFT to Indian Overseas Bank, DERABASSI using IFSC IOBA0001737
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 IOBA0001737, and confirm that the system picks up Indian Overseas Bank – DERABASSI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
RTGS transfers via IFSC IOBA0001737
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 – DERABASSI, ensure your bank's portal accepts IFSC IOBA0001737 while registering the beneficiary. RTGS is also available 24x7.
Send money instantly through IMPS
For a real-time, anytime transfer to Indian Overseas Bank – DERABASSI, use IMPS. With IFSC IOBA0001737 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 IOBA0001737 for Indian Overseas Bank – DERABASSI, 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 – IOBA0001737 | Yes – IOBA0001737 | Yes – IOBA0001737 |
For most retail customers crediting the Derabassi 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.
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 DERABASSI branch, the IFSC IOBA0001737 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 Derabassi branch is mapped to IFSC IOBA0001737 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 IOBA0001737.
Banking services available
The Derabassi branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 44-28584896.
- 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 IOBA0001737
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 IOBA0001737 and the account number together uniquely identify the Derabassi branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
Online banking and IFSC IOBA0001737
Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the DERABASSI 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 IOBA0001737 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.
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 – DERABASSI:
- The IFSC is exactly IOBA0001737 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 DERABASSI 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 Derabassi branch
The branch is located at CHANDIGARHAMBALA NAT HIGHWAY,NEAR SUKHMANI INST OF ENG TECH,DERABASSI, which puts it inside Dera Bassi, the broader Patiala district, and the state of Punjab. To plan your visit:
- Open Google Maps on your phone and search for “Indian Overseas Bank Derabassi branch” — the verified location pin for IFSC IOBA0001737 should appear at the top of the results.
- Confirm the branch is open by calling 44-28584896 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 IOBA0001737 and your account number.
Verifying IFSC IOBA0001737 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 IOBA0001737 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 44-28584896.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Derabassi 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 IOBA0001737 continue to work without interruption.
Branch address & contact
Indian Overseas BankDerabassi Branch
CHANDIGARHAMBALA NAT HIGHWAY,NEAR SUKHMANI INST OF ENG TECH,DERABASSI
Dera Bassi, Punjab
Phone: 44-28584896
IFSC: IOBA0001737
Frequently asked questions
What is the IFSC code of Indian Overseas Bank Derabassi branch?
The IFSC code of Indian Overseas Bank, Derabassi branch is IOBA0001737. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Does Indian Overseas Bank Derabassi branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 44-28584896 to confirm.
Can I use IFSC IOBA0001737 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC IOBA0001737 to send funds instantly.
Is IFSC IOBA0001737 valid for NEFT and RTGS?
Yes. IFSC IOBA0001737 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Is IFSC IOBA0001737 the same for all accounts at Derabassi branch?
Yes. The IFSC IOBA0001737 is shared by every account held at Indian Overseas Bank's Derabassi branch. Only the account number changes from customer to customer.
How quickly will an NEFT transfer using IOBA0001737 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Indian Overseas Bank – Derabassi reflect within 30 minutes.
Final notes
To recap: IOBA0001737 is the IFSC code of Indian Overseas Bank, DERABASSI branch, in DERA BASSI, 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.
