Flexi Fixed Deposit Indian Overseas Bank

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What is an Indian Overseas Bank Flexi Fixed Deposit?

Indian Overseas Bank Flexi Deposit is a secured deposit option that automatically transfers funds from your IOB Freedom Savings Account in multiples of ₹5,000 into Flexi Fixed Deposit. With a threshold of ₹50,000, this smart solution helps you earn better returns without compromising on liquidity or managing deposits manually. For IOB Startup Current Account holders, the threshold limit is set at ₹5,00,000, and further deposits can be made in multiples of ₹1,000 according to the customer's preference.

Indian Overseas Bank Flexi Deposit Interest Rates 

Flexi Fixed Deposit interest rates follow the prevailing Indian Overseas Bank FD interest rates. Below is a table showing the current rates applicable to Flexi Fixed Deposits offered by Indian Overseas Bank:

For Deposits Less than ₹3 Crores

*Indian Overseas Bank FD interest rates w.e.f. July 15, 2025

To explore comparative options, check the FD interest rates in India.

Key Features of Indian Overseas Bank Flexi Deposit 

The Indian Overseas Bank Flexi Fixed Deposit offers several key benefits:

• Earn Better Interest: With a Flexi Fixed Deposit, you can earn fixed deposit interest rates, generally higher than standard savings account returns.
• Flexible Deposit Amount: There is no set maximum limit for the deposit. As long as you maintain the minimum threshold, you can allow funds to be swept into fixed deposits based on your financial preferences.
• Customisable Tenure Options: Indian Overseas Bank offers flexible deposit tenures to suit your needs. With the auto sweep facility, the minimum tenor is 7 days and the maximum is 18 months, suitable for both short- and medium-term goals.
• Convenient Account Setup: Opening a Flexi Deposit account can be initiated online or by visiting a nearby branch, making it easy for new and existing customers to earn more on their surplus funds.

How to Open an Indian Overseas Bank Flexi Fixed Deposit?

You can open a Flexi Fixed Deposit at Indian Overseas Bank online or by visiting a branch. Existing customers can book the deposit directly. New customers need to open a savings account first and then link the Flexi Fixed Deposit. The steps to complete the process are outlined below:

1. Online FD Account Opening

   You can book an Indian Overseas Bank FD online if you're an existing customer with NetBanking or the IOB Mobile app.

   • NetBanking or Mobile App: Log in to your Indian Overseas Bank NetBanking with your credentials or open the IOB Mobile app.
   • Go to ‘Fixed Deposit’: Tap on 'Term Deposit/Fixed Deposit' and then select 'Open FD'.
   • Select FD Amount: Select your account and enter the amount (starting from ₹1,000).
   • Select FD Type: Choose a deposit type from the available options, such as a cumulative (reinvestment) or non-cumulative (interest payout) FD.
   • Maturity Instructions: Select options for auto-renewal, interest payout frequency, or payout at maturity.
   • Review & Confirm: Check all details, accept the terms & conditions, and submit.
   • FD Receipt: Generate and print the term deposit receipt (e-TDR) instantly.

2. Offline FD Account Opening

   If you prefer the offline process, you can visit your nearest Indian Overseas Bank branch to book a fixed deposit with the flexi facility.

   • Visit Indian Overseas Bank Branch: Visit an Indian Overseas Bank branch with your PAN/Aadhaar and cheque/cash.
   • Indian Overseas Bank FD Form: Fill out the Term Deposit form at the Indian Overseas Bank branch.
   • Submit Documents: Submit the required KYC proofs if you are a new customer.
   • Fund Transfer/Deposit: Deposit the FD amount (minimum ₹1,000) digitally, through cheque, or cash.
   • Tenure & Interest Options: Choose the tenure (7 days to 10 years) and interest payout frequency.
   • Get the FD Receipt: Indian Overseas Bank will issue a Term Deposit Receipt (TDR) as confirmation.

Difference Between Flexi Fixed Deposits and Regular Fixed Deposits

Here’s a quick comparison of the key features between Indian Overseas Bank’s Regular Fixed Deposits and Flexi Fixed Deposits:

Key Takeaways

The Indian Overseas Bank Flexi Fixed Deposit offers a balanced approach to savings by combining higher returns than regular FDs with easy access to funds. Its automatic sweep-in and sweep-out feature ensures your account always meets the required balance while your surplus earns FD interest. The Flexi Fixed FD also helps you avoid Indian Overseas Bank FD premature withdrawal, making it an efficient choice for those who maintain regular account activity and prefer hassle-free fund management.