IFSC Code of Indian Overseas Bank, Hanuman Nagar Nagpur Branch, Maharashtra

If you are searching for the IFSC code of Indian Overseas Bank, HANUMAN NAGAR NAGPUR branch in NAGPUR, MAHARASHTRA, this page has every detail you need. The verified IFSC code for this branch is IOBA0002423. 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 HANUMAN NAGAR NAGPUR branch, and detailed step-by-step guides for using the IFSC IOBA0002423 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.

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 – HANUMAN NAGAR NAGPUR is IOBA0002423. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 002423 map to this branch in NAGPUR, MAHARASHTRA.

Branch details at a glance

Bank profile

Indian Overseas Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Hanuman Nagar Nagpur branch — IFSC IOBA0002423 — extends the bank's services to customers in and around Nagpur, Maharashtra.

Hanuman Nagar Nagpur branch overview

Located at GROUND FLOOR,ARIHANT APARTMENT MEDICAL SQUARE,NAGPUR PINCODE 440023, the Hanuman Nagar Nagpur branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IOBA0002423 is required for all interbank electronic transfers routed through this branch.

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 HANUMAN NAGAR NAGPUR of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0002423 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 IOBA0002423 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 IOBA0002423

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 IOBA0002423 across all three.

How to use IFSC IOBA0002423 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's HANUMAN NAGAR NAGPUR 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 IOBA0002423.
4. Confirm the bank name auto-populates as Indian Overseas Bank and the branch as HANUMAN NAGAR NAGPUR.
5. 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 HANUMAN NAGAR NAGPUR

If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's HANUMAN NAGAR NAGPUR branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0002423 while initiating the transfer and the credit will appear within minutes.

IMPS to Indian Overseas Bank HANUMAN NAGAR NAGPUR (IFSC IOBA0002423)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IOBA0002423 in your mobile or internet banking app, and the money is credited to the HANUMAN NAGAR NAGPUR branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Hanuman Nagar Nagpur

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 IOBA0002423:

• 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 HANUMAN NAGAR NAGPUR is still linked to IFSC IOBA0002423.

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 IOBA0002423

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 – HANUMAN NAGAR NAGPUR is still mapped to IFSC IOBA0002423. 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 IOBA0002423 and the beneficiary's account number to complete the transfer.

Account types you can open at the Hanuman Nagar Nagpur branch

Once you have an account at Indian Overseas Bank – HANUMAN NAGAR NAGPUR, the IFSC IOBA0002423 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 Hanuman Nagar Nagpur 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 IOBA0002423

MICR & cheque-truncation details

Cheques drawn on the Hanuman Nagar Nagpur branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0002423 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Online banking and IFSC IOBA0002423

Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the HANUMAN NAGAR NAGPUR 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 IOBA0002423 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 – HANUMAN NAGAR NAGPUR:

• The IFSC is exactly IOBA0002423 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 HANUMAN NAGAR NAGPUR 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.

Reaching the branch

The Hanuman Nagar Nagpur branch sits at GROUND FLOOR,ARIHANT APARTMENT MEDICAL SQUARE,NAGPUR PINCODE 440023. If you are travelling from outside Nagpur, search for the branch on a maps application using the bank name and locality, or call 712-2700400 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 IOBA0002423 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IOBA0002423 for Indian Overseas Bank – HANUMAN NAGAR NAGPUR, 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.

Working hours

Branch counters at Hanuman Nagar Nagpur 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 IOBA0002423 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: IOBA0002423 is the IFSC code of Indian Overseas Bank, HANUMAN NAGAR NAGPUR branch, in NAGPUR, MAHARASHTRA. 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.