Indian Overseas Bank FD Interest Rates

The Fixed Deposit scheme is Indian Overseas bank is outstanding. Indian Overseas Bank FD Interest Rates differ for the amount of principal invested and the tenure that it is invested for. Another reason for the fluctuation of Indian Overseas Bank FD Interest 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 The Fixed Deposit scheme is available in three modes - The quarterly payout scheme where the interest can be withdrawn every quarter from the start date of the investment, the monthly payout scheme where the customer can withdraw the interest every month if he chooses, and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.

Features of Indian Overseas Bank Fixed Deposit

Investment Amount  Minimum - Rs.1000 Maximum- No Maximum Limit
Tenure  Minimum - 7 daysMaximum- 10 Years
Interest Rate  Minimum - 4.50 %Maximum- 5.70%

Indian Overseas Bank Fixed Deposit Rates 2020

Indian Overseas Bank FD Rates in India
Tenure General Public FD Rates Senior Citizen FD Rates
7 days to 45 days 4.50% 5.25%
46 days to 90 days 4.60% 5.35%
91 days to 120 days 4.85% 5.60%
121 days to 179 days 5.10% 5.85%
180 days to 269 days 5.35% 6.00%
270 days to 364 days 5.50% 6.25%
444 days 5.65% 6.40%
1 year 1 day to 1 year 364 days 5.60% 6.35%
2 years to 2 years 364 days 5.70% 6.45%
3 years to 10 years 5.70% 6.45%

Comparison of FD Rates by Top 10 Financial Institutes

Name Interest Rates Tenure  
Axis Bank 5.75% 5 years to 10 years View Details
Bank of Baroda 5.30% 5 years 1 day to 10 years View Details
Bank of India 5.40% 5 years to 10 years View Details
Canara Bank 5.45% 3 years to 10 years View Details
Central Bank of India 5.35% 5 years to 10 years View Details
HDFC Bank 5.50% 5 years 1 day to 10 years View Details
ICICI Bank 5.50% 5 years 1 day to 10 years View Details
IDBI Bank 5.70% 7 years 1 day to 10 years View Details
State Bank Of India 5.40% 5 years to 10 years View Details
Yes Bank 7.00% 1 year to 10 years View Details

Indian Overseas Bank Fixed Deposits

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

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.

Indian Overseas Bank Fixed Deposit Rates in India

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.)

7 days to 14 days (for single deposit of Rs.1 lakh and above)

Upto Rs. 1 cr

4.00%

15 days to 29 days

Upto Rs. 1 cr

4.00%

30 days to 45 days

Upto Rs. 1 cr

4.00%

46 days to 60 days

Upto Rs. 1 cr

4.00%

61 days to 90 days

Upto Rs. 1 cr

4.50%

91 days to 120 days

Upto Rs. 1 cr

5.00%

121 days to 179 days

Upto Rs. 1 cr

5.00%

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

6.50%

2 years to 3 years

Upto Rs. 1 cr

6.25%

Above 3 years to less than 5 years

Upto Rs. 1 cr

6.00%

5 years and above

Upto Rs. 1 cr

6.00%

 

For Domestic Deposits - Upto Rs. 25 lakh (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. 25 lakh

4.50%

15 days to 29 days

Upto Rs. 25 lakh

4.50%

30 days to 45 days

Upto Rs. 25 lakh

4.50%

46 days to 60 days

Upto Rs. 25 lakh

4.50%

61 days to 90 days

Upto Rs. 25 lakh

5.00%

91 days to 120 days

Upto Rs. 25 lakh

5.50%

121 days to 179 days

Upto Rs. 25 lakh

5.50%

180 days to 269 days

Upto Rs. 25 lakh

6.25%

270 days less than 1 year

Upto Rs. 25 lakh

6.75%

1year

Upto Rs. 25 lakh

7.25%

Above1 year to less than 2 years

Upto Rs. 25 lakh

7.00%

2 years to 3 years

Upto Rs. 25 lakh

6.75%

Above 3 years to less than 5 years

Upto Rs. 25 lakh

6.50%

5 years and above

Upto Rs. 25 lakh

6.50%

 

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

6.00%

6.50%

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

4.00%

15 days to 29 days

Upto Rs. 1 cr

4.00%

30 days to 45 days

Upto Rs. 1 cr

4.00%

46 days to 60 days

Upto Rs. 1 cr

4.00%

61 days to 90 days

Upto Rs. 1 cr

4.50%

91 days to 120 days

Upto Rs. 1 cr

5.00%

121 days to 179 days

Upto Rs. 1 cr

5.00%

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

6.50%

2 years to 3 years

Upto Rs. 1 cr

6.25%

Above 3 years to less than 5 years

Upto Rs. 1 cr

6.00%

5 years and above

Upto Rs. 1 cr

6.00%

 

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

6.50%

2 years to 3 years

Upto Rs. 1 cr

6.25%

Above 3 years to less than 5 years

Upto Rs. 1 cr

6.00%

5 years and above

Upto Rs. 1 cr

6.00%

 

Written By: PolicyBazaar - Updated: 23 November 2020
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