Fixed Deposit Rate of Indian Overseas Bank

Tenure Interest Rates for Regular Deposit Interest Rates for Senior Citizen
7 days to 60 days 4.00% 4.50%
61 days to 90 days 4.50% 5.00%
91 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 10 years 6.00% 6.50%

Fixed Deposit Calculator

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This private sector bank which has its branches spread across the south of India is helping thousands through its FD scheme.

Saving for the future with the Indian Overseas Bank

Saving efficiently is the key to having a safe and secure future. The Indian Overseas bank sees the importance of this fact. This bank based out of Chennai, Tamil Nadu has grown and expanded across India. A major reason to that is the products that they offer. Among their noteworthy products is the Deposit schemes. There are two kinds of deposits- the fixed deposit and the recurring Deposit.

The Advantages of the Fixed Deposit scheme

The Fixed Deposit scheme is Indian Overseas bank is outstanding. The rates differ for the amount of principal invested and the tenure that it is invested for. Another reason for the fluctuation of rates is the nature of the person who applies for the deposit. Senior citizens get a higher interest rate when compared to the other cadre of citizens. The Fixed Deposit scheme is available in three modes- The quarterly payout scheme where the interest can be withdrawn every quarter from the start date of the investment, the monthly payout scheme where the customer can withdraw the interest every month if he chooses, and collecting the interest along with the final amount during the maturity period.

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