Indian Overseas Bank Timings and Services in 2024

If you are a customer of Indian Overseas Bank (IOB) or plan to visit one of their branches, knowing the updated transaction timings is crucial. The operating hours in 2024 are as follows:

Weekdays:
Cash transactions: 10:00 AM - 3:30 PM
Non-cash transactions: 9:30 AM - 5:00 PM
Lunch Break: 1:30 - 2:00 PM (Services continue during lunch)

Saturdays: Operates 10:00 AM - 3:30 PM on the 1st, 3rd, and 5th Saturdays. Closed on 2nd and 4th Saturdays. Confirm specific timings with the IOB customer care helpline.

Post-COVID-19 lockdowns, branches resumed normal hours from 9:20 AM to 5:00 PM. It’s mandatory for visitors to wear masks and follow social distancing protocols for safety.

Online Banking Availability:
IOB’s online banking services like internet and mobile banking, as well as ATMs, provide 24/7 access, even on holidays. For NEFT transactions, online transfers are available 24/7.

In-branch NEFT Timings: 10:00 AM - 5:00 PM, with a lunch intermission from 1:30 - 2:00 PM. Processing occurs in 30-minute batches from RBI, and funds typically transfer within an hour.

RTGS and IMPS Transactions:
RTGS transactions can be made in-branch from 10:00 AM to 5:00 PM, with online options available 24/7. The minimum amount for RTGS is Rs. 2 lakh.
IMPS payments, suitable for amounts below Rs. 2 lakh, allow for quick transfers anytime, any day.

UPI Transactions: The Unified Payments Interface (UPI) is operational 24/7, enabling instant payments without sharing account details, even during public holidays.

In conclusion, IOB provides flexible banking options while ensuring compliance with safety guidelines. Stay informed to optimally utilize their services.