Indian Overseas Bank FD Rates

Tenure Interest Rates for Regular Deposit Interest Rates for Senior Citizen
7 days to 45 days 4.50% 5.00%
46 days to 90 days 4.60% 5.10%
91 days to 120 days 5.25% 5.75%
121 days to 179 days 5.50% 6.00%
180 days to 269 days 5.75% 6.25%
270 days to 364 days 6.25% 6.75%
1 year 1 day to 1 year 364 days 6.60% 7.10%
2 years to 2 years 364 days 6.75% 7.25%
3 years to 10 years 6.80% 7.30%

Indian Overseas Bank Fixed Deposit Calculator

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Investment

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Interest Rate

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Investment Amount Minimum - Rs.1000 Maximum- No Maximum Limit
Tenure Minimum - 7 daysMaximum- 10 Years
Avail Loan on FD account The account holder can apply for a loan from Indian Overseas Bank up to 90% of the principal amount
Half-yearly Interest Avail interest against your FDs on a half-yearly basis

Indian Overseas Bank FD Interest Rates

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 The Fixed Deposit scheme is available in three modes- The quarterly payout scheme where the interest can be withdrawn every quarter from the start date of the investment, the monthly payout scheme where the customer can withdraw the interest every month if he chooses, and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.


Indian Overseas Bank Fixed Deposit Rates

It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.

For Domestic Deposits - Upto Rs. 1 cr (As on Dec 01, 2016)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
General Senior Citizen
7 days to 14 days (for single deposit of Rs.1 lakh and above) Upto Rs. 1 cr 4 N.A
15 days to 29 days Upto Rs. 1 cr 4 N.A
30 days to 45 days Upto Rs. 1 cr 4 N.A
46 days to 60 days Upto Rs. 1 cr 4 N.A
61 days to 90 days Upto Rs. 1 cr 4.5 N.A
91 days to 120 days Upto Rs. 1 cr 5 N.A
121 days to 179 days Upto Rs. 1 cr 5 N.A
180 days to 269 days Upto Rs. 1 cr 5.75 N.A
270 days less than 1 year Upto Rs. 1 cr 6.25 N.A
1year Upto Rs. 1 cr 6.75 N.A
Above1 year to less than 2 years Upto Rs. 1 cr 6.5 N.A
2 years to 3 years Upto Rs. 1 cr 6.25 N.A
Above 3 years to less than 5 years Upto Rs. 1 cr 6 N.A
5 years and above Upto Rs. 1 cr 6 N.A

 

For Domestic Deposits - Upto Rs. 25 lakh (As on Dec 01, 2016)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
General Senior Citizen
7 days to 14 days (for single deposit of Rs.1 lakh and above) Upto Rs. 25 lakh N.A 4.5
15 days to 29 days Upto Rs. 25 lakh N.A 4.5
30 days to 45 days Upto Rs. 25 lakh N.A 4.5
46 days to 60 days Upto Rs. 25 lakh N.A 4.5
61 days to 90 days Upto Rs. 25 lakh N.A 5
91 days to 120 days Upto Rs. 25 lakh N.A 5.5
121 days to 179 days Upto Rs. 25 lakh N.A 5.5
180 days to 269 days Upto Rs. 25 lakh N.A 6.25
270 days less than 1 year Upto Rs. 25 lakh N.A 6.75
1year Upto Rs. 25 lakh N.A 7.25
Above1 year to less than 2 years Upto Rs. 25 lakh N.A 7
2 years to 3 years Upto Rs. 25 lakh N.A 6.75
Above 3 years to less than 5 years Upto Rs. 25 lakh N.A 6.5
5 years and above Upto Rs. 25 lakh N.A 6.5

 

Tax Saver FD (Max Deposit - 1 LPA)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
General Senior Citizen
IOB Tax Saver Deposit Scheme - 5 Years Upto Rs. 1 lakh 6 6.5

 

Tax Implications

  1. The amount invested in Fixed Deposit with a tenure of 5 years with Indian Overseas Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
  2. The applicable tax will be deducted at source, i.e. Indian Overseas Bank, in case the annual interest earned crosses Rs. 10,000.

 

For NRO Fixed Deposit - Upto Rs. 1 cr (As on Dec 01, 2016)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
7 days to 14 days (for single deposit of Rs.1 lakh and above) Upto Rs. 1 cr 4
15 days to 29 days Upto Rs. 1 cr 4
30 days to 45 days Upto Rs. 1 cr 4
46 days to 60 days Upto Rs. 1 cr 4
61 days to 90 days Upto Rs. 1 cr 4.5
91 days to 120 days Upto Rs. 1 cr 5
121 days to 179 days Upto Rs. 1 cr 5
180 days to 269 days Upto Rs. 1 cr 5.75
270 days less than 1 year Upto Rs. 1 cr 6.25
1year Upto Rs. 1 cr 6.75
Above1 year to less than 2 years Upto Rs. 1 cr 6.5
2 years to 3 years Upto Rs. 1 cr 6.25
Above 3 years to less than 5 years Upto Rs. 1 cr 6
5 years and above Upto Rs. 1 cr 6

 

For NRE Fixed Deposit - Upto Rs. 1 cr (As on Dec 01, 2016)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
1year Upto Rs. 1 cr 6.75
Above1 year to less than 2 years Upto Rs. 1 cr 6.5
2 years to 3 years Upto Rs. 1 cr 6.25
Above 3 years to less than 5 years Upto Rs. 1 cr 6
5 years and above Upto Rs. 1 cr 6

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