Indian Overseas Bank Interest Rates on FD, Dec 2016

Last Updated 30th Nov 2016
Tenure General Rates Senior Citizen Rate
7 day 4.00% 4.50%
15 day 4.00% 4.50%
30 day 4.00% 4.50%
46 day 4.00% 4.50%
61 day 4.50% 5.00%
91 day 5.00% 5.50%
121 day 5.00% 5.50%
180 day 5.75% 6.25%
270 day 6.25% 6.75%
1 year 6.75% 7.25%
1 year 1 day to 1 year 364 day 6.50% 7.00%
2 year to 3 year 6.25% 6.75%
3 year 1 day to 37 year 364 day 6.00% 6.50%
5 year to 10 year 6.00% 6.50%

FD Interest Rates of Indian Overseas Bank

    Read Latest News on Indian Overseas Bank Here
  • Indian Overseas Bank offers FD interest rates upto 6.75% 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 higher interest rate over and above rates mentioned below.
Calculate Indian Overseas Bank
FD Maturity Amount

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.

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News - Dec 2016
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Manappuram to launch Anytime Pawn Machines for instant gold loans
Manappuram Finance, leading gold loan company, has announced the launch of a new scheme to provide instant gold loans to customers. Under the scheme, company will install Anytime Pawn Machines nationwide. The machine will issue the new currency notes to customers in exchange of their gold and jewellery.
02nd Dec 16 Muthoot Finance to launch an instant gold loan scheme for customers
Muthoot Finance has announced the launch of an instant gold loan scheme for its customers. As a part of the scheme, Anytime Pawn Machines will be installed that will issue new currency notes to the customers in exchange of their gold jewellery. The machine will use laser technology to check the weight and purity of gold before issuing cash.
02nd Dec 16 Bajaj Finance to provide an attractive offer to personal loan buyers
Bajaj Finance, a lending arm of Bajaj Financial Services has announced an attractive offer to boost up the personal loan business. Under the offer, company will provide free airline vouchers of Rs. 12,000 to the customers availing personal loan. Personal loan buyers will also get an extra benefit of selecting the destination of their choice. The offer is valid from 28th November to 4th December, 2016.
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