Indian Overseas Bank (IOB) is a major public sector bank based in Chennai. Indian Overseas Bank has an ISO certified in-house Information Technology department. The bank was established on 10 February 1937.

Real Time Gross Settlement (RTGS)

Real Time Gross Settlement (RTGS) System is operated and maintained by Reserve Bank of India to enable funds settlement on real-time basis across banks in the country.

Indian Overseas Bank is a member of RTGS.

Eligibility-

IOB offers InstaRemit to both corporate customers and individual customers for transfer of funds from their accounts to other customers of other bank branches which are RTGS enabled.

IOB customers can also receive funds from others who are having accounts with other RTGS enabled bank branches.

Funds transfer Requirements-

For Outward transactions customers are requested to provide the IFSC Code of the branch where the funds are to be transferred, along with other details of the beneficiary like, name, beneficiary account number, etc.

For Inward remittances Customers are requested to provide the IFSC Code, account number in 15 digits, Name etc. for speedy and accurate credit.

Customer Timings:

RTGS

Monday Through Friday upto 4.30 P.M
Saturday upto 01.30 P.M