Indian Overseas Bank Interest Rates on FD, Oct 2016

Get upto Rs 5,000/- Cashback*
Terms & Conditions Apply*
Apply Online

Last Updated 19th Oct 16

TenureInterest Rate
30 Days4.00%
45 Days 4.00%
60 Days 4.00%
90 Days 4.50%
120 Days 5.00%
6 Months 5.75%
9 Months 6.25%
12 Months 7.25%
18 Months 7.25%
2 Years 7.00%
3 Years 7.00%
4 Years 7.00%
5 Years 7.00%
7 Years 7.00%
10 Years 7.00%

Indian Overseas Bank FD Interest Rates

  • Indian Overseas Bank offers FD interest rates upto 7.25% per annum.
  • Interest on deposits with Indian Overseas Bank is typically compounded quarterly.
  • Indian Overseas Bank accepts deposits starting at Rs. 1000 for various tenures.
  • For senior citizens (age more than 60 years), Indian Overseas Bank offers 0.50% higher interest rate over and above rates mentioned below.

Indian Overseas Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Indian Overseas Bank pays 1% lower ROI than that applicable for actual duration of deposit.

Loan against Indian Overseas Bank FD

  • Indian Overseas Bank offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Indian Overseas Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Indian Overseas Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Indian Overseas Bank in your city - Find Indian Overseas Bank Branches here

About Indian Overseas Bank

Chennai headquartered Indian Overseas Bank (IOB) was founded in February 1937 with objectives of specialising in foreign exchange business and overseas banking. It started out with three branches located at Karaikudi and Chennai in India and at Rangoon in Burma (Myanmar). In 1964, IOB introduced computerisation in the areas of inter-branch reconciliation and provident fund accounts. It was the first bank to venture into consumer credit by introducing a personal loan scheme. The bank was nationalized along with 13 major commercial banks of India on July 20, 1969 by the Government of India. IOB has 3,350 domestic branches, over 2400 ATMs and six branches overseas. IOB provides various banking services including saving bank, current accounts, credit facilities and other services. The Bank operates in four segments: treasury, corporate/wholesale banking, retail banking and other banking operations. The Bank's services also include personal banking services, non-residential Indian (NRI) accounts, corporate banking services, rural service, mobile banking service, Internet banking service and tenders. The Company's new agriculture loan products include IOB Sagarlakshmi, IOB Bhoomi Shakti, IOB Green Credit, IOB Urban Horticulture, IOB Agri and Kisan Credit Card Scheme.

click here to Compare
  • Indian Overseas Bank FD rates with other banks in India

Apply Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 

I authorize MyLoanCare, its partners to contact me. This over rides my number being in NDNC registry
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
Best Offers on Home Loan, Loan Against Property, Personal Loan, Gold Loan
Cashback Upto Rs. 5,000/
News - Oct 2016
22nd Oct 16 SBI asks customers to use own ATMs
SBI advised its customers to use its own ATM network for safety of transactions. The Bank also promised to replace 6 lakh debit cards which were blocked by the bank as a preventive measure within ten days following a cyber security breach in the banking system. The other major banks hit by the cyber fraud are Axis Bank, HDFC and ICICI Bank.
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank has cut it benchmark MCLR base rate by 5 bps. The bank has reduced its rates across tenures effectively reducing the overnight rates to 8.80 per cent and three year rate to 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra and Indian Bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
18th Oct 16 Citibank gives special Diwali offers on personal loans
Citibank personal loan offers reduction in rates to 11.49 per cent for digital channels and online applications made at MyLoanCare. Bank offers 0.50 per cent discount on processing fee and an Amazon Gift Voucher of Rs. 250 for loans disbursed till 3rd November, 2016. Also, get a Flipkart Gift Voucher upto Rs. 2500 on applying through MyLoanCare.
17th Oct 16 SBI: Sub 9 percent MCLR Base Rate Soon
SBI chief Arundati Bhattacharya said that the bank had transferred 95 bps out of total 150 bps cut in policy rates to its customers by way of reduction in SBI MCLR base rate. Dhe said that she expects rates to fall further shortly.
15th Oct 16 ICICI Bank tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology. Now other private sector banks are gearing up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances while HDFC is still assessing the opportunity.