IFSC Code of Indian Overseas Bank, Xeldem Branch, Goa

Below are the complete branch details for Indian Overseas Bank, XELDEM branch, located in QUEPEM, GOA. The IFSC assigned by the Reserve Bank of India to this branch is IOBA0003005. 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 IOBA0003005 for Indian Overseas Bank – XELDEM — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Indian Overseas Bank's XELDEM branch, the IFSC IOBA0003005 breaks down as follows: IOBA identifies the bank, 0 is the reserved character, and 003005 identifies this particular branch.

About Indian Overseas Bank

Indian Overseas Bank operates a wide network of branches across India, including the Xeldem branch in Quepem. 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, IOBA0003005.

Branch details at a glance

Xeldem branch overview

Located at SHOP 15,16,17 NIRMAL RESIDENCY,XELDEM,TILAMOL,GOA 403705, the Xeldem branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IOBA0003005 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 XELDEM of Indian Overseas Bank — its own 11-character IFSC. The code IOBA0003005 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 IOBA0003005 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 Xeldem branch

Once you have an account at Indian Overseas Bank – XELDEM, the IFSC IOBA0003005 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 Xeldem 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 IOBA0003005

How to transfer money using IFSC IOBA0003005

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 IOBA0003005 across all three.

How to use IFSC IOBA0003005 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's XELDEM 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 IOBA0003005.
4. Confirm the bank name auto-populates as Indian Overseas Bank and the branch as XELDEM.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC IOBA0003005

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 – XELDEM, ensure your bank's portal accepts IFSC IOBA0003005 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Indian Overseas Bank – XELDEM, use IMPS. With IFSC IOBA0003005 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC IOBA0003005 for Indian Overseas Bank – XELDEM, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.

For most retail customers crediting the Xeldem branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.

UPI payments and IFSC IOBA0003005

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 – XELDEM is still mapped to IFSC IOBA0003005. 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 IOBA0003005 and the beneficiary's account number to complete the transfer.

Online banking and IFSC IOBA0003005

Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the XELDEM 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 IOBA0003005 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 Xeldem branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0003005 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

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 – XELDEM:

• The IFSC is exactly IOBA0003005 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 XELDEM 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 Xeldem branch sits at SHOP 15,16,17 NIRMAL RESIDENCY,XELDEM,TILAMOL,GOA 403705. If you are travelling from outside Quepem, search for the branch on a maps application using the bank name and locality, or call 44-28584896 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 IOBA0003005 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IOBA0003005 for Indian Overseas Bank – XELDEM, 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 Xeldem 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 IOBA0003005 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: IOBA0003005 is the IFSC code of Indian Overseas Bank, XELDEM branch, in QUEPEM, 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.