IFSC Code of Union Bank of India, Lower Parel Branch, Maharashtra

This page lists the IFSC code, branch address, contact number and fund-transfer information for Union Bank of India, LOWER PAREL branch in MUMBAI. The 11-digit IFSC UBIN0555037 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 Union Bank of India at the LOWER PAREL 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 Union Bank of India – LOWER PAREL is UBIN0555037. The first four letters UBIN are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 555037 map to this branch in MUMBAI, MAHARASHTRA.

About Union Bank of India

Union Bank of India operates a wide network of branches across India, including the Lower Parel branch in Mumbai. 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, UBIN0555037.

About the Lower Parel branch

The Lower Parel branch of Union Bank of India is situated at YASHWANT BHAVAN, GROUND FLOOR,NEAR DEEPAK TALKIES, PANDURANG BHUDKAR,MARG, LOWER PAREL, MUMBAI - 400 013.. 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 UBIN0555037 is used.

Branch details at a glance

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 Union Bank of India's LOWER PAREL branch came to be assigned the code UBIN0555037.

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 UBIN0555037, money simply cannot be routed to the LOWER PAREL branch electronically.

MICR & cheque-truncation details

Cheques drawn on the Lower Parel branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC UBIN0555037 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

How to transfer money using IFSC UBIN0555037

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 UBIN0555037 across all three.

NEFT to Union Bank of India, LOWER PAREL using IFSC UBIN0555037

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC UBIN0555037, and confirm that the system picks up Union Bank of India – LOWER PAREL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to LOWER PAREL

If you need to transfer ₹2 lakh or more in one go to an account at Union Bank of India's LOWER PAREL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UBIN0555037 while initiating the transfer and the credit will appear within minutes.

IMPS to Union Bank of India LOWER PAREL (IFSC UBIN0555037)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UBIN0555037 in your mobile or internet banking app, and the money is credited to the LOWER PAREL branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Lower Parel

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 UBIN0555037:

• 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 LOWER PAREL is still linked to IFSC UBIN0555037.

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 UBIN0555037

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 Union Bank of India – LOWER PAREL is still mapped to IFSC UBIN0555037. 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 UBIN0555037 and the beneficiary's account number to complete the transfer.

Account types you can open at the Lower Parel branch

Once you have an account at Union Bank of India – LOWER PAREL, the IFSC UBIN0555037 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 Lower Parel branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 24934313.

• 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 UBIN0555037

Online banking and IFSC UBIN0555037

Union Bank of India customers can register for net banking and the bank's official mobile app once their account at the LOWER PAREL 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 UBIN0555037 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.

How to reach the Lower Parel branch

The branch is located at YASHWANT BHAVAN, GROUND FLOOR,NEAR DEEPAK TALKIES, PANDURANG BHUDKAR,MARG, LOWER PAREL, MUMBAI - 400 013., which puts it inside Mumbai, the broader Greater Bombay district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Union Bank of India Lower Parel branch” — the verified location pin for IFSC UBIN0555037 should appear at the top of the results.
2. Confirm the branch is open by calling 24934313 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 UBIN0555037 and your account number.

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 Union Bank of India – LOWER PAREL:

• The IFSC is exactly UBIN0555037 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Union Bank of India as the bank name and LOWER PAREL 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.

Working hours

Branch counters at Lower Parel 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 UBIN0555037 continue to work without interruption.

Verifying IFSC UBIN0555037 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 UBIN0555037 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 24934313.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code UBIN0555037 belongs to Union Bank of India's LOWER PAREL branch, located at YASHWANT BHAVAN, GROUND FLOOR,NEAR DEEPAK TALKIES, PANDURANG BHUDKAR,MARG,… in MUMBAI, 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.