Indian Overseas Bank 444 Days FD Scheme

What is Indian Overseas Bank 444 Days FD Scheme 2025 ?

The Indian Overseas Bank 444 Days FD Scheme 2025 allows both general and senior citizens to invest for a fixed tenure of 444 days at competitive interest rates. The scheme can be easily opened through Indian Overseas Bank’s Internet Banking, Mobile App, or at any branch. The Indian Overseas Bank FD rates for this tenure offer a clear and predictable return. This makes the scheme a suitable option for short to medium-term investments.

Indian Overseas Bank FD Rates for 444 Days

Here are the latest FD interest rates for deposits of less than ₹3 crore:

*Indian Overseas Bank FD rates for 444 days w.e.f. September 15, 2025

Key Features of Indian Overseas Bank 444 Days FD Scheme

Indian Overseas Bank 444 days FD schemes with unique benefits that differentiate them from regular fixed deposits. The main features include:

• Auto-Renewal Option: Investors can activate the auto-renewal facility, ensuring the FD is renewed for the same tenure of 444 days upon maturity. This reduces manual effort and allows the deposit to continue earning interest without interruption.
• Low Minimum Deposit: The Indian Overseas Bank 444 Days FD can be started with a minimum deposit of ₹1,000. This makes it convenient for first-time savers and small investors to begin investing without needing a large amount.
• Multiple Payout Choices: Customers can choose from cumulative FDs with interest paid at maturity or non-cumulative FDs with monthly or quarterly interest payouts.
• Loan Facility: Customers can avail of the Indian Overseas Bank loan against FD under the 444 Days FD Scheme. They can borrow up to 90% of the deposit amount. This helps meet short-term financial needs without closing the fixed deposit.

How to Apply for Indian Overseas Bank 444 Days FD Scheme?

Customers can open the Indian Overseas Bank 444 Days FD both online and offline. The process is simple and convenient for all types of investors. Below are the steps to open the 444 Days FD Scheme through both methods:

Online Application Process

Follow these steps to apply online for the Indian Overseas Bank 444 Days FD Scheme:

• Log In to Internet Banking or Mobile App: Access your account using valid credentials through the official Indian Overseas Bank website or Mobile App.
• Go to the Fixed Deposit Section: Navigate to the “Deposits” tab and select the option to open a new fixed deposit account.
• Select the Deposit Type: Choose the 444 Days FD Scheme and enter the desired tenure and investment amount.
• Enter Deposit Details: Provide the deposit amount, choose your payout preference (monthly, quarterly, or cumulative), and add nominee details.
• Review and Confirm: Verify all entered information, including tenure and deposit amount, before final submission.
• Complete the Transaction: Confirm the request. The deposit amount will be debited from your account, and the FD confirmation advice will be generated instantly.

Offline Application Process

If you prefer to open the Indian Overseas Bank 444 Days FD at a branch, follow these steps:

• Visit the Nearest Indian Overseas Bank Branch: Visit your nearest branch and request the fixed deposit application form from the help desk.
• Fill in the Application Form: Enter details such as the deposit amount, tenure, scheme type, and nominee information.
• Submit KYC Documents: Provide PAN card, Aadhaar, proof of address, and a passport-sized photograph for verification.
• Deposit the Amount: Pay the deposit amount in cash, by cheque, or authorise a transfer from your Indian Overseas Bank savings account.
• Select Renewal and Payout Options: Choose whether the FD should renew automatically or close on maturity, and select your preferred payout frequency.
• Collect the FD Acknowledgement: Once processed, you will receive an FD receipt or advice slip containing all the details of your 444 Days FD Scheme.

Example of Indian Overseas Bank 444 Days FD Interest Calculation 

Suppose a customer invests ₹2,00,000 in the Indian Overseas Bank 444 Days FD Scheme. The estimated returns based on the current FD interest rates at 6.70% for general citizens are as follows:

Simple Interest Calculation (General Citizen, 6.70%)

SI = (₹ 2,00,000 × 6.70 × 1.22) / 100

SI = ₹16,348

Maturity Amount = ₹2,00,000 + ₹16,348 = ₹2,16,348

Compound Interest Calculation (Quarterly Compounding, 6.70%)

A = ₹2,00,000 × (1 + 0.067 / 4)^(4 × 1.22)

A ≈ ₹2,17,100.41

Compound Interest = ₹2,17,100.41 – ₹2,00,000 = ₹17,100.41

Note: The Indian Overseas Bank FD interest calculator can be used to estimate the maturity amount, helping investors understand the returns based on the deposit amount, tenure, and prevailing interest rate.

Documents Required for Indian Overseas Bank 444 Days FD Scheme

To open an Indian Overseas Bank 444 Days FD, customers must provide a few essential documents for verification. Below is the list of required documents:

• Proof of Identity: Accepted IDs include Aadhaar, PAN, Passport, Voter ID, or Driving Licence.
• Proof of Address: Customers can submit Aadhaar, Passport, a recent utility bill, or a bank statement showing their current address.
• Photograph: A passport-size photograph is required for offline FD applications.
• PAN Card: Submitting a PAN card is mandatory for taxation and TDS purposes.
• KYC Documents: Online deposits can be completed through e-KYC or video KYC, while offline applications require physical copies.
• Bank Account Details: An Indian Overseas Bank savings account must be linked to receive interest payouts and maturity proceeds.

Eligibility Criteria for Indian Overseas Bank 444 Days FD Scheme

Indian Overseas Bank offers a 444-day Fixed Deposit Scheme to a wide range of customers. The following categories are eligible to open an account under this scheme:

• Resident Individuals: Adults and minors can open a fixed deposit account.
• Senior Citizens: Individuals aged 60 years and above receive additional interest benefits.
• Firms and Companies: Sole proprietorships, partnership firms, and private or public limited companies can invest in this scheme.
• Trusts and Societies: Registered trusts, societies, and associations are permitted to open deposits as per bank regulations.
• Non-Resident Indians (NRIs): NRIs can invest in this scheme through NRE or NRO fixed deposit accounts.

Indian Overseas Bank 444 Days FD Scheme Returns: Tax Implications

Interest earned on Indian Overseas Bank fixed deposits is taxable under “Income from Other Sources.” From 1 April 2025, the TDS limit is ₹50,000 per year for non-senior citizens and ₹1,00,000 for senior citizens. If the interest crosses these limits, the bank deducts TDS at 10%, or 20% if PAN is not submitted. Investors can submit Form 15G or Form 15H to avoid TDS if their total income is below the taxable limit.

Key Takeaways

The Indian Overseas Bank 444 Days FD Scheme offers fixed returns with flexible payout options and higher interest benefits for senior citizens. It can be opened online through Internet Banking or the Mobile App, as well as offline by visiting any branch. The scheme provides competitive Indian Overseas Bank FD interest rates for both general and senior citizens, allowing customers to earn steady returns over a defined tenure.