This page lists the IFSC code, branch address, contact number and fund-transfer information for Indian Overseas Bank, SAVOI VERAM branch in PONDA. The 11-digit IFSC IOBA0000670 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Indian Overseas Bank at the SAVOI VERAM location, this is the only IFSC you need.
We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this 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 – SAVOI VERAM is IOBA0000670. The first four letters IOBA are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000670 map to this branch in PONDA, GOA.
About the bank
Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Savoi Veram branch in Ponda, Goa is part of this network and uses the IFSC code IOBA0000670 for all electronic settlement.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Savoi Veram |
| IFSC Code | IOBA0000670 |
| MICR Code | Refer to cheque leaf |
| Branch Address | PANCHAYAT BLDG SAVOI VERAM VILLAGE PONDA TALUK PIN 403401 |
| City | Ponda |
| District | North Goa |
| State | Goa |
| Phone | 2340225 |
About this branch
The branch is located at PANCHAYAT BLDG SAVOI VERAM VILLAGE PONDA TALUK PIN 403401. It serves the Ponda region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Indian Overseas Bank. The IFSC IOBA0000670 is used to identify this branch on the RBI payments network.
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 SAVOI VERAM of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0000670 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 IOBA0000670 the same way you would treat your account number — verify it once and save it carefully for future use.
Account types you can open at the Savoi Veram branch
Once you have an account at Indian Overseas Bank – SAVOI VERAM, the IFSC IOBA0000670 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.
Banking services available
The Savoi Veram branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2340225.
- 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 IOBA0000670
How to transfer money using IFSC IOBA0000670
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 IOBA0000670 across all three.
How to use IFSC IOBA0000670 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's SAVOI VERAM 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).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC IOBA0000670.
- Confirm the bank name auto-populates as Indian Overseas Bank and the branch as SAVOI VERAM.
- 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 SAVOI VERAM
If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's SAVOI VERAM branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0000670 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 – SAVOI VERAM, use IMPS. With IFSC IOBA0000670 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 Savoi Veram
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 IOBA0000670:
- 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 SAVOI VERAM is still linked to IFSC IOBA0000670.
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 IOBA0000670
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 – SAVOI VERAM is still mapped to IFSC IOBA0000670. 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 IOBA0000670 and the beneficiary's account number to complete the transfer.
Online banking and IFSC IOBA0000670
Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the SAVOI VERAM 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 IOBA0000670 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 & cheque-truncation details
Cheques drawn on the Savoi Veram branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0000670 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Common mistakes to avoid when using IFSC IOBA0000670
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 – SAVOI VERAM, 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:
IOBA0000670. - 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 Savoi Veram branch
The branch is located at PANCHAYAT BLDG SAVOI VERAM VILLAGE PONDA TALUK PIN 403401, which puts it inside Ponda, the broader North Goa district, and the state of Goa. To plan your visit:
- Open Google Maps on your phone and search for “Indian Overseas Bank Savoi Veram branch” — the verified location pin for IFSC IOBA0000670 should appear at the top of the results.
- Confirm the branch is open by calling 2340225 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 IOBA0000670 and your account number.
Verifying IFSC IOBA0000670 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 IOBA0000670 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 2340225.
- 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 Savoi Veram branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0000670, however, work 24x7.
Branch address & contact
Indian Overseas BankSavoi Veram Branch
PANCHAYAT BLDG SAVOI VERAM VILLAGE PONDA TALUK PIN 403401
Ponda, Goa
Phone: 2340225
IFSC: IOBA0000670
Frequently asked questions
Where is Indian Overseas Bank Savoi Veram branch located?
Indian Overseas Bank's Savoi Veram branch is located at PANCHAYAT BLDG SAVOI VERAM VILLAGE PONDA TALUK PIN 403401, Ponda, Goa.
Is IFSC IOBA0000670 valid for NEFT and RTGS?
Yes. IFSC IOBA0000670 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
What is the phone number of Indian Overseas Bank Savoi Veram branch?
You can reach the branch at 2340225 during regular banking hours.
Does Indian Overseas Bank Savoi Veram branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 2340225 to confirm.
How quickly will an NEFT transfer using IOBA0000670 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Indian Overseas Bank – Savoi Veram reflect within 30 minutes.
Can I use IFSC IOBA0000670 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC IOBA0000670 to send funds instantly.
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 Savoi Veram branch but serve different purposes.
How do I add Indian Overseas Bank Savoi Veram as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC IOBA0000670, and complete OTP verification. Once activated, you can transfer funds at any time.
Final notes
To recap: IOBA0000670 is the IFSC code of Indian Overseas Bank, SAVOI VERAM branch, in PONDA, GOA. 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.
