IFSC Code of Union Bank of India, Service Branch Panaji Branch, Goa

Use this page as a one-stop reference for everything related to Union Bank of India's SERVICE BRANCH PANAJI branch in PANAJI, GOA. The branch's IFSC code UBIN0562271 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.

In our case, UBIN0562271 is the IFSC of Union Bank of India's SERVICE BRANCH PANAJI branch. The format is fixed: UBIN = bank code, 0 = reserved, 562271 = branch identifier.

Branch details at a glance

About Union Bank of India

Union Bank of India operates a wide network of branches across India, including the Service Branch Panaji branch in Panaji. 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, UBIN0562271.

About this branch

The branch is located at MEZZAINEN FLOOR MODELS RESIDENCY SHOP NO 6 7 8 ST INEZ CHURCH ROAD ST INEZ GOA 403 001. It serves the Panaji region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Union Bank of India. The IFSC UBIN0562271 is used to identify this branch on the RBI payments network.

Why every Union Bank of India 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 SERVICE BRANCH PANAJI of Union Bank of India — its own 11-character IFSC. The code UBIN0562271 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 UBIN0562271 the same way you would treat your account number — verify it once and save it carefully for future use.

How to transfer money using IFSC UBIN0562271

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 UBIN0562271 across all three.

How to use IFSC UBIN0562271 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Union Bank of India's SERVICE BRANCH PANAJI 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 UBIN0562271.
4. Confirm the bank name auto-populates as Union Bank of India and the branch as SERVICE BRANCH PANAJI.
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 SERVICE BRANCH PANAJI

If you need to transfer ₹2 lakh or more in one go to an account at Union Bank of India's SERVICE BRANCH PANAJI branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UBIN0562271 while initiating the transfer and the credit will appear within minutes.

IMPS to Union Bank of India SERVICE BRANCH PANAJI (IFSC UBIN0562271)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UBIN0562271 in your mobile or internet banking app, and the money is credited to the SERVICE BRANCH PANAJI branch account within seconds.

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

All three modes accept the IFSC UBIN0562271 for Union Bank of India – SERVICE BRANCH PANAJI, 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 Service Branch Panaji 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 Union Bank of India's SERVICE BRANCH PANAJI branch, the IFSC UBIN0562271 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.

Products and account variants supported

Every account opened at the Service Branch Panaji branch is mapped to IFSC UBIN0562271 on the RBI payments network. The branch generally supports the full retail product catalogue of Union Bank of India, 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 UBIN0562271.

Products and services

Customers walking into the Service Branch Panaji branch can access most of Union Bank of India'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 UBIN0562271

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Union Bank of India carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC UBIN0562271 and the account number together uniquely identify the Service Branch Panaji branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the Service Branch Panaji branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC UBIN0562271 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

Common mistakes to avoid when using IFSC UBIN0562271

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 Union Bank of India – SERVICE BRANCH PANAJI, 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: UBIN0562271.
• 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 Service Branch Panaji branch sits at MEZZAINEN FLOOR MODELS RESIDENCY SHOP NO 6 7 8 ST INEZ CHURCH ROAD ST INEZ GOA 403 001. If you are travelling from outside Panaji, search for the branch on a maps application using the bank name and locality, or call the branch contact number 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 UBIN0562271 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC UBIN0562271 for Union Bank of India – SERVICE BRANCH PANAJI, 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 Service Branch Panaji 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 UBIN0562271 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code UBIN0562271 belongs to Union Bank of India's SERVICE BRANCH PANAJI branch, located at MEZZAINEN FLOOR MODELS RESIDENCY SHOP NO 6 7 8 ST INEZ CHURCH ROAD ST INEZ GOA… in PANAJI, GOA. 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.