IFSC Code of Indian Overseas Bank, Pen Branch, Maharashtra

Below are the complete branch details for Indian Overseas Bank, PEN branch, located in PEN, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is IOBA0001457. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case IOBA0001457 for Indian Overseas Bank – PEN — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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 – PEN is IOBA0001457. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 001457 map to this branch in PEN, MAHARASHTRA.

About the bank

Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Pen branch in Pen, Maharashtra is part of this network and uses the IFSC code IOBA0001457 for all electronic settlement.

Branch details at a glance

About the Pen branch

The Pen branch of Indian Overseas Bank is situated at VANDHANA BHAVAN, CHINCHPADA ROAD, PEN402107. 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 IOBA0001457 is used.

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 PEN of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0001457 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 IOBA0001457 the same way you would treat your account number — verify it once and save it carefully for future use.

Products and account variants supported

Every account opened at the Pen branch is mapped to IFSC IOBA0001457 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 IOBA0001457.

Banking services available

The Pen branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2143-254816.

• 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 IOBA0001457

How to transfer money using IFSC IOBA0001457

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 IOBA0001457 across all three.

How to use IFSC IOBA0001457 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's PEN 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 IOBA0001457.
4. Confirm the bank name auto-populates as Indian Overseas Bank and the branch as PEN.
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 PEN

If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's PEN branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0001457 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 – PEN, use IMPS. With IFSC IOBA0001457 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 Pen

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 IOBA0001457:

• 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 PEN is still linked to IFSC IOBA0001457.

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 PEN branch, the IFSC IOBA0001457 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.

Online banking and IFSC IOBA0001457

Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the PEN 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 IOBA0001457 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.

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 IOBA0001457 and the account number together uniquely identify the Pen branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Common mistakes to avoid when using IFSC IOBA0001457

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 – PEN, 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: IOBA0001457.
• 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.

How to reach the Pen branch

The branch is located at VANDHANA BHAVAN, CHINCHPADA ROAD, PEN402107, which puts it inside Pen, the broader Raigad district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Overseas Bank Pen branch” — the verified location pin for IFSC IOBA0001457 should appear at the top of the results.
2. Confirm the branch is open by calling 2143-254816 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 IOBA0001457 and your account number.

Verifying IFSC IOBA0001457 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 IOBA0001457 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 2143-254816.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Pen 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 IOBA0001457 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IOBA0001457 belongs to Indian Overseas Bank's PEN branch, located at VANDHANA BHAVAN, CHINCHPADA ROAD, PEN402107 in PEN, MAHARASHTRA. 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.