IFSC Code of Indian Overseas Bank, Jalandharbansanwala Bazar Branch, Punjab

Use this page as a one-stop reference for everything related to Indian Overseas Bank's JALANDHARBANSANWALA BAZAR branch in JALANDHAR, PUNJAB. The branch's IFSC code IOBA0002059 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, IOBA0002059 is the IFSC of Indian Overseas Bank's JALANDHARBANSANWALA BAZAR branch. The format is fixed: IOBA = bank code, 0 = reserved, 002059 = branch identifier.

Branch details at a glance

About Indian Overseas Bank

Indian Overseas Bank operates a wide network of branches across India, including the Jalandharbansanwala Bazar branch in Jalandhar. 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, IOBA0002059.

About the Jalandharbansanwala Bazar branch

The Jalandharbansanwala Bazar branch of Indian Overseas Bank is situated at BAZAR BANSANWALA, JALANDHAR CITY PIN 144001. 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 IOBA0002059 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 JALANDHARBANSANWALA BAZAR branch came to be assigned the code IOBA0002059.

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 IOBA0002059, money simply cannot be routed to the JALANDHARBANSANWALA BAZAR branch electronically.

How to transfer money using IFSC IOBA0002059

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 IOBA0002059 across all three.

NEFT to Indian Overseas Bank, JALANDHARBANSANWALA BAZAR using IFSC IOBA0002059

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 IOBA0002059, and confirm that the system picks up Indian Overseas Bank – JALANDHARBANSANWALA BAZAR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC IOBA0002059

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 – JALANDHARBANSANWALA BAZAR, ensure your bank's portal accepts IFSC IOBA0002059 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Indian Overseas Bank – JALANDHARBANSANWALA BAZAR, use IMPS. With IFSC IOBA0002059 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 Jalandharbansanwala Bazar

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 IOBA0002059:

• 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 JALANDHARBANSANWALA BAZAR is still linked to IFSC IOBA0002059.

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 IOBA0002059

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 – JALANDHARBANSANWALA BAZAR is still mapped to IFSC IOBA0002059. 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 IOBA0002059 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Jalandharbansanwala Bazar branch is mapped to IFSC IOBA0002059 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 IOBA0002059.

Banking services available

The Jalandharbansanwala Bazar 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 IOBA0002059

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 IOBA0002059 and the account number together uniquely identify the Jalandharbansanwala Bazar 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 Jalandharbansanwala Bazar 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 IOBA0002059 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 – JALANDHARBANSANWALA BAZAR:

• The IFSC is exactly IOBA0002059 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 JALANDHARBANSANWALA BAZAR 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 Jalandharbansanwala Bazar branch

The branch is located at BAZAR BANSANWALA, JALANDHAR CITY PIN 144001, which puts it inside Jalandhar, the broader Jalandhar district, and the state of Punjab. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Overseas Bank Jalandharbansanwala Bazar branch” — the verified location pin for IFSC IOBA0002059 should appear at the top of the results.
2. Confirm the branch is open by calling 44-28584896 before stepping out, especially around public holidays.
3. 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 IOBA0002059 and your account number.

Verifying IFSC IOBA0002059 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 IOBA0002059 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.

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 Jalandharbansanwala Bazar branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0002059, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IOBA0002059 belongs to Indian Overseas Bank's JALANDHARBANSANWALA BAZAR branch, located at BAZAR BANSANWALA, JALANDHAR CITY PIN 144001 in JALANDHAR, PUNJAB. 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.