This page lists the IFSC code, branch address, contact number and fund-transfer information for Indian Overseas Bank, BHANIAWALA branch in RISHIKESH. The 11-digit IFSC IOBA0002503 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 BHANIAWALA 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.
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 BHANIAWALA branch, the IFSC IOBA0002503 breaks down as follows: IOBA identifies the bank, 0 is the reserved character, and 002503 identifies this particular branch.
Branch details at a glance
| Bank Name | Indian Overseas Bank |
|---|---|
| Branch | Bhaniawala |
| IFSC Code | IOBA0002503 |
| MICR Code | Refer to cheque leaf |
| Branch Address | NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140 |
| City | Rishikesh |
| District | Dehra Dun |
| State | Uttarakhand |
| STD Code | 0 |
| Phone | 2412988 |
About Indian Overseas Bank
Indian Overseas Bank operates a wide network of branches across India, including the Bhaniawala branch in Rishikesh. 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, IOBA0002503.
About the Bhaniawala branch
The Bhaniawala branch of Indian Overseas Bank is situated at NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140. 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 IOBA0002503 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 BHANIAWALA branch came to be assigned the code IOBA0002503.
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 IOBA0002503, money simply cannot be routed to the BHANIAWALA branch electronically.
How to transfer money using IFSC IOBA0002503
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 IOBA0002503 across all three.
How to use IFSC IOBA0002503 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's BHANIAWALA 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 IOBA0002503.
- Confirm the bank name auto-populates as Indian Overseas Bank and the branch as BHANIAWALA.
- 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 BHANIAWALA
If you need to transfer ₹2 lakh or more in one go to an account at Indian Overseas Bank's BHANIAWALA branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IOBA0002503 while initiating the transfer and the credit will appear within minutes.
IMPS to Indian Overseas Bank BHANIAWALA (IFSC IOBA0002503)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IOBA0002503 in your mobile or internet banking app, and the money is credited to the BHANIAWALA branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC IOBA0002503 for Indian Overseas Bank – BHANIAWALA, 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.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – IOBA0002503 | Yes – IOBA0002503 | Yes – IOBA0002503 |
For most retail customers crediting the Bhaniawala 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.
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 BHANIAWALA branch, the IFSC IOBA0002503 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.
Account types you can open at the Bhaniawala branch
Once you have an account at Indian Overseas Bank – BHANIAWALA, the IFSC IOBA0002503 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 Bhaniawala branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2412988.
- 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 IOBA0002503
MICR & cheque-truncation details
Cheques drawn on the Bhaniawala branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IOBA0002503 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Online banking and IFSC IOBA0002503
Indian Overseas Bank customers can register for net banking and the bank's official mobile app once their account at the BHANIAWALA 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 IOBA0002503 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.
Common mistakes to avoid when using IFSC IOBA0002503
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 – BHANIAWALA, 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:
IOBA0002503. - 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.
Reaching the branch
The Bhaniawala branch sits at NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140. If you are travelling from outside Rishikesh, search for the branch on a maps application using the bank name and locality, or call 2412988 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 IOBA0002503 and your account number.
Verifying IFSC IOBA0002503 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 IOBA0002503 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 2412988.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Bhaniawala 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 IOBA0002503 continue to work without interruption.
Branch address & contact
Indian Overseas BankBhaniawala Branch
NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140
Rishikesh, Uttarakhand
Phone: 2412988
IFSC: IOBA0002503
Frequently asked questions
How quickly will an NEFT transfer using IOBA0002503 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Indian Overseas Bank – Bhaniawala reflect within 30 minutes.
Is IFSC IOBA0002503 the same for all accounts at Bhaniawala branch?
Yes. The IFSC IOBA0002503 is shared by every account held at Indian Overseas Bank's Bhaniawala branch. Only the account number changes from customer to customer.
Does Indian Overseas Bank Bhaniawala branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 2412988 to confirm.
How do I add Indian Overseas Bank Bhaniawala as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC IOBA0002503, and complete OTP verification. Once activated, you can transfer funds at any time.
Is IFSC IOBA0002503 valid for NEFT and RTGS?
Yes. IFSC IOBA0002503 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Where is Indian Overseas Bank Bhaniawala branch located?
Indian Overseas Bank's Bhaniawala branch is located at NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140, Rishikesh, Uttarakhand.
Summary
The IFSC code IOBA0002503 belongs to Indian Overseas Bank's BHANIAWALA branch, located at NEAR DURGA CHOWK ASHIRWAD BHAWAN BHANIAWALA, DEHRADUN, UTTARAKHAND 248140 in RISHIKESH, UTTARAKHAND. 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.
