The Indian Overseas Bank is one of the most prominent banks in South India. Apart from its Indian operations, it has successfully established branches in Singapore, Colombo, Seoul, Bangkok, along with representative branches in Guangzhou, Vietnam and Dubai.
There are many different types of fixed deposit schemes offered by Indian Overseas Bank. Mentioned below are the rates for the same.
Note: The FD rates have been sourced from the official website of IDFC Bank. Please note that Interest Rates are subject to change, without notice, as per the market trends and the bank’s decision in this regard is final.
| Period of Deposit | Existing Rate (%) Up to less than Rs 1 Cr | Existing Rate (%) Rs 1 cr and above |
|---|---|---|
| 7-14 days | 4.50 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 15-29 days | 15-29 days | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 30-45 Days | 4.50 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 46 -60 Days | 4.60 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 61-90 days | 4.60 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 91-120 days | 5.25 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 121-179 days | 5.50 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 180 -269 days | 5.75 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 270 days --< 1 yr | 6.25 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 1 Year to < 2 years | 6.60 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 2 years to < 3 years | 6.75 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| 3 Years and above | 6.80 | Refer to Treasury for rates For Deposits of Rs 1 Crore |
| Period of Deposit | New Rate (%) Up to less than Rs 2 Cr | New Rate (%) Rs 2 crs and above |
|---|---|---|
| 7-14 days* | 4.50 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 15-29 days | 4.50 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 30-45 Days | 4.50 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 46 -60 Days | 4.60 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 61-90 days | 4.60 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 91-120 days | 5.25 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 121-179 days | 5.50 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 180 -269 days | 5.75 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 270 days --< 1 yr | 6.25 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 1 Year to < 2 years | 6.60 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 2 years to < 3 years | 6.75 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
| 3 Years and above | 6.80 | Refer to Treasury for rates For Deposits of Rs 2 Crore and above |
Minimum amount Rs 1.00 Lakh*
For Senior Citizens Additional Rate of 0.50% continues.
For the retired staff members, including Retired Senior Citizen Staff, the maximum additional interest rate benefit shall be capped at 1% over and above the card rate.
Interest rate for IOB Tax Saver Deposit stands at 6.80%.
Features and Benefits:
| Criteria | Description |
|---|---|
| Min. Amount | ₹1,000 |
| Max. Amount | None |
| Tenure | 7 days to 10 years |
| Nomination | Yes |
| Overdraft/Loan | Yes |
| Eligibility | Resident individual, professional & self-employed, small traders and Hindu Undivided Family (HUFs). |
Features and Benefits:
| Criteria | Description |
|---|---|
| Min. Amount | ₹1,000 |
| Max. Amount | None |
| Tenure | NA |
| Nomination | Yes |
| Overdraft/Loan | Yes, upto 90% of the FD amount |
| Eligibility | Resident individual, professional & self-employed, small traders and Hindu Undivided Family (HUFs). |
Features and Benefits:
| Criteria | Description |
|---|---|
| Min. Amount | ₹5,000 |
| Max. Amount | None |
| Tenure | 15 days to 120 months |
| Nomination | Yes |
| Overdraft/Loan | Yes |
| Eligibility | Resident senior citizens only |
Features and Benefits:
| Criteria | Description |
|---|---|
| Min. Amount | ₹10,000 |
| Max. Amount | ₹1.5 lakh |
| Tenure | 5-10 years |
| Nomination | Yes |
| Overdraft/Loan | No |
| Eligibility | Resident individual, professional & self-employed, small traders and Hindu Undivided Family (HUFs). |
Features and Benefits:
| Criteria | Description |
|---|---|
| Type | Savings, Current and Term |
| Joint Account | Yes |
| Eligibility | NRI or PIO or OCI |
Features and Benefits:
| Criteria | Description |
|---|---|
| Currency | USD, GBP, Euro, JPY, CAD, AUD, NZD, CHF and SGD |
| Tenure | 1-5 years |
| Joint Account | Yes |
| Loan Facility | Up to 75% of the deposit amount |
| Eligibility | NRI or PIO or OCI |
Features and Benefits:
| Criteria | Description |
|---|---|
| Currency | USD/EUR/GBP/JPY/AUD/CAD |
| Type | Savings or Term Deposits |
| Interest | Yes, subject to tax |
| Loan Facility | Up to 75% of the deposit amount |
| Eligibility | NRI or PIO or OCI |
| Period | Up to less than Rs 1 Cr | Existing Rate (%) Rs 1 cr and above |
|---|---|---|
| 1 year to <2 years | 6.60 | Refer to Treasury for rates |
| 2 yrs to <3yrs | 6.75 | Refer to Treasury for rates |
| 3 Yrs and above | 6.80 | Refer to Treasury for rates |
| Period | Up to less than Rs 2 Cr | Rs 2 crs and above |
|---|---|---|
| 1 year to <2 years | 6.60 | Refer to Treasury for rates |
| 2 yrs to <3yrs | 6.75 | Refer to Treasury for rates |
| 3 Yrs and above | 6.80 | Refer to Treasury for rates |
The features of Indian Overseas Band FD Account are as follows-
Resident individual, professional & self-employed, small traders and Hindu Undivided Family (HUFs) with a valid PAN are eligible for Indian Overseas Bank FDs.
Fixed Deposit Interest Rates for other Banks:
What is the interest rate that Indian Overseas Bank Fixed Deposit offers on senior citizens FDs?
The interest rate offered by Indian Overseas Bank to senior citizens is 0.50% additional to the rates offered to normal citizens.
Can I make alterations to the tenure of my ongoing Indian Overseas Bank Fixed Deposit?
No, you cannot make any alterations to the tenure of your ongoing FD.
How to open an Indian Overseas Bank Fixed Deposit account without a PAN card?
You simply need to visit the nearest branch and deposit the FD amount along with a self-attested copy of PAN to open a new FD account.
What is the highest interest rate that is offered by the Indian Overseas Bank Fixed Deposit?
The highest interest rate offered by Indian Overseas Bank FD is 6.80 % for a tenure of 3 years or more.
What is the minimum amount required to start an Indian Overseas Bank Fixed Deposit account?
The minimum amount required to open an FD with Indian Overseas Bank is ₹1,000.
Can I open my Indian Overseas Bank Fixed Deposit without a PAN card?
Yes, you can open an FD with any other KYC document. In case you do not have a PAN card, you will be required to fill form 60 at the time of opening a new FD.
