April 26, 2023

What are the Indian Overseas Bank Timings?

Founded in 1937 by Mr M. Ct. M. Chidambaram Chettyar and later nationalised in 1969, Indian Overseas Bank ( IoB) is one.of prominent public sector undertaking with the Government of India being its majority stakeholder with its share pegged at 96.38%.
Headquartered in Chennai, the bank has a strong domestic presence with a network of 3,221 domestic branches, 4 overseas branches across Singapore, Hongkong and Bangkok.
With an asset base of ₹2.74 lakh crores, IoB offers a comprehensive set of solutions through traditional and digital channels.
For example, IoB's netbanking offers a wide array of solution such as :
  • Balance enquiry
  • Last Few transactions
  • Account Statement
  • Cheque Paid Status
  • Deposit Opening
  • Deposit Closure/Deposit Renewal
  • Transfer money to any of your bank accounts
which can be availed 24*7 , without visiting your bank branch.
However, if you have an offline/ physical account with IoB, you need to visit your bank branch to avail services related to passbook printing, account opening, cash deposit and withdrawal, cheque clearing, remittances and government transactions, and note exchange etc.
Whether you opt for a traditional banking account or digital or a blend of both, it is very critical that you are aware of your bank's working timings, its holiday list in advance so that you are better prepared to schedule your banking activities and handle emergency situations.
Let us take a look at IoB's working hours and holiday list.

IoB's Working hours and working day timings:

Working dayWorking timings
For week days [Monday to Friday]10:00 AM to 5:00 PM
1st, 3rd and 5th Saturday of Month10:00 AM to 5:00 PM
2nd and 4th Saturday of MonthClosed
For all SundayClosed
Lunch timeemployees take turns to minimise disruption of services, between 1PM to 2:30 PM
NEFT transferWorking timings
For weekdays Monday - Friday8.00 am to 7.00 pm
Saturday8.00 am to 1.00 pm
2nd and 4th Saturday of every monthClosed
All bank holidaysClosed
RTGS transferWorking timings
For weekdays Monday – Saturday8.00 am to 4.30 pm
2nd and 4th Saturday of every monthClosed
All bank holidaysClosed

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility

RELATED ARTICLES

Karur Vysya Bank (KVB) Netbanking - Login, Registrations, & Online Banking

Karur Vysya Bank ( KVB) is one of the oldest private sector banks in India. Established in 1916 and headquartered in Karur, Tamil Nadu, KVB has strong footprints in southern India with a branch network of 781 and an ATM network of 2251 ( as on June, 2021). With a total asset base of ₹116098, the bank provides a comprehensive portfolio of services, both offline and online to both retail ( Resident Indians, NRIs Hindu Undivided Families (HUFs) and corporate customers including Partnership firms.

What is Bankers Cheque?

- As a creditor, are you worried whether your customer's cheque may bounce? …..and that you will have sleepless nights? - What if you have to make some payment to the vendor and you don't have the beneficiary's relevant banking details? For example, you only have the vendor's company name and address and the amount to be remitted. When it comes to money matters, we all seek safety and validity of payment more than anything else, isn't it? In all these situations, the banker's cheque or banker's draft or pay order is your 'go to' option.

What is Telegraphic Transfer?

- Working overseas! Do you seek to send money back home to India in Indian currency for your parents? - Studying overseas! Do you seek to receive funds from your parents in India, to meet your tuition fee in foreign currency? - To address these needs, are you seeking a swift, safe, secure , cashless, cardless, economical with minimum currency fluctuation channel to make payments, interbank and cross borders? - You are willing to part with a transaction fee, as long as the fund transfer is safe, secure, swift, simple,seamless and traceable. Welcome to the concept of ' telegraphic transfer', a euphemism for interbank fund transfers that are now carried out electronically, through a variety of channels, netbanking, mobile banking through the SWIFT platform. Way back in the 1990s, the overseas payments were executed between the sender's and recipient bank over the cable wire or telegraph system through the exchange of coded messages. It usually takes anywhere between one to four working days to fulfil the transaction and such payments can be initiated, anytime, anywhere in multiple currencies across multiple geographies. In such overseas payments, the amount is denominated in the currency of the beneficiary bank's country at the prevailing exchange rate. The participating entities usually charge a fee to facilitate such a service.

UCO Bank Net Banking & How to Activate Online: Login & Registration

UCO Bank Net Banking is an online banking service offered by UCO Bank to its customers. It is a convenient and secure way to access your bank account and manage your banking needs. With UCO Bank Net Banking, customers can check account balances, view account statements, transfer funds, and pay bills from their homes or office. It also offers features like bill payment, mobile banking, and shopping. UCO Bank Net Banking is a safe and secure way to manage your finances. It provides customers with great convenience, 24/7 access, and quick transaction processing.