Use this page as a one-stop reference for everything related to Indian Overseas Bank's GARAG branch in GARAG, KARNATAKA. The branch's IFSC code IOBA0000308 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, IOBA0000308 is the IFSC of Indian Overseas Bank's GARAG branch. The format is fixed: IOBA = bank code, 0 = reserved, 000308 = branch identifier.
Bank profile
Indian Overseas Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Garag branch — IFSC IOBA0000308 — extends the bank's services to customers in and around Garag, Karnataka.
About the Garag branch
The Garag branch of Indian Overseas Bank is situated at MATHRU CHAYA MAIN ROAD GARAG, PIN 581105. 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 IOBA0000308 is used.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Garag |
| IFSC Code | IOBA0000308 |
| MICR Code | Refer to cheque leaf |
| Branch Address | MATHRU CHAYA MAIN ROAD GARAG, PIN 581105 |
| City | Garag |
| District | Dharwad |
| State | Karnataka |
| Phone | 2787822 |
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 GARAG branch came to be assigned the code IOBA0000308.
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 IOBA0000308, money simply cannot be routed to the GARAG branch electronically.
MICR & cheque-truncation details
Cheques drawn on the Garag branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0000308 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
How to transfer money using IFSC IOBA0000308
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 IOBA0000308 across all three.
NEFT to Indian Overseas Bank, GARAG using IFSC IOBA0000308
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 IOBA0000308, and confirm that the system picks up Indian Overseas Bank – GARAG. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to GARAG
If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's GARAG branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0000308 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 – GARAG, use IMPS. With IFSC IOBA0000308 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 Garag
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 IOBA0000308:
- 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 GARAG is still linked to IFSC IOBA0000308.
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 GARAG branch, the IFSC IOBA0000308 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.
Account types you can open at the Garag branch
Once you have an account at Indian Overseas Bank – GARAG, the IFSC IOBA0000308 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.
Products and services
Customers walking into the Garag 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 IOBA0000308
Online banking and IFSC IOBA0000308
Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the GARAG 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 IOBA0000308 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.
Reaching the branch
The Garag branch sits at MATHRU CHAYA MAIN ROAD GARAG, PIN 581105. If you are travelling from outside Garag, search for the branch on a maps application using the bank name and locality, or call 2787822 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 IOBA0000308 and your account number.
Common mistakes to avoid when using IFSC IOBA0000308
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 – GARAG, 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:
IOBA0000308. - 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 Garag branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0000308, however, work 24x7.
Verifying IFSC IOBA0000308 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 IOBA0000308 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 2787822.
- Visiting the bank's official branch locator page.
Branch address & contact
Indian Overseas BankGarag Branch
MATHRU CHAYA MAIN ROAD GARAG, PIN 581105
Garag, Karnataka
Phone: 2787822
IFSC: IOBA0000308
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 Garag branch but serve different purposes.
How do I add Indian Overseas Bank Garag as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC IOBA0000308, and complete OTP verification. Once activated, you can transfer funds at any time.
What is the phone number of Indian Overseas Bank Garag branch?
You can reach the branch at 2787822 during regular banking hours.
Does Indian Overseas Bank Garag branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 2787822 to confirm.
What is the IFSC code of Indian Overseas Bank Garag branch?
The IFSC code of Indian Overseas Bank, Garag branch is IOBA0000308. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Is IFSC IOBA0000308 the same for all accounts at Garag branch?
Yes. The IFSC IOBA0000308 is shared by every account held at Indian Overseas Bank's Garag branch. Only the account number changes from customer to customer.
Final notes
To recap: IOBA0000308 is the IFSC code of Indian Overseas Bank, GARAG branch, in GARAG, KARNATAKA. 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.
