Indian Overseas Bank Interest Rates on FD, Feb 2017

Fixed Deposit Interest Rate of Indian Overseas Bank

Last Updated 22nd Feb 2017
Tenure General Rates Senior Citizen Rates
7 days to 14 days 4.00% 4.50%
15 days to 29 days 4.00% 4.50%
30 days to 45 days 4.00% 4.50%
46 days to 60 days 4.00% 4.50%
61 days to 90 days 4.50% 5.00%
91 days to 120 days 5.00% 5.50%
121 days to 179 days 5.00% 5.50%
180 days to 269 days 5.75% 6.25%
270 days to 364 days 6.25% 6.75%
1 year 6.75% 7.25%
1 year 1 day to 1 year 364 days 6.50% 7.00%
2 years to 3 years 6.25% 6.75%
3 years 1 day to 4 years 364 days 6.00% 6.50%
5 years to 10 years 6.00% 6.50%
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  • 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

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  • Indian Overseas Bank FD rates with other banks in India

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.
News - Feb 2017
27th Jun 16 Indian Overseas Bank Posts Rs 939 Crore Loss for March Quarter
Indian Overseas Bank reported a net loss of Rs 936.19 crore for the quarter ended March due to a sharp spike in bad loans, compared to a net profit of Rs 35.50 crore during the March quarter of 2014-15.. On an annual basis, Indian Overseas Bank reported an overall loss of Rs 2,897.33 crore in the during FY16 compared to a profit of Rs 454.33 crore during FY15
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