How to Apply for Indian Overseas Bank (IOB) Bank FD

IOB is a well-reputed bank and offers customers various fixed deposit (fd) scheme options with a wide range of interest payout options. The interest rates are competitive and the tenure range is flexible. One can apply for an IOB fd online by following a few simple steps that are given below.

Updated On - 05 Sep 2025

All IOB fd holder will be eligible to avail a loan of up to 90% on their term deposits. The bank also offers variable tenure options that range from 6 to 120 months.

The minimum investment amount that needs to be made for IOB term deposits is Rs.1,000. There is no ceiling on the maximum amount that can be invested under this scheme.

Stepwise Process to Apply for IOB Fixed Deposit Online

Step 1: Log on to the IOB website and login to internet banking by providing username and password

Step 2: Go to 'Deposit' and click on 'Open Deposit' to open a new fd account

Step 3: This will allow the customer to go to the 'Request for New Deposit' page. Then click 'Go'. Here fill all relevant details

Step 4: Verify details and click 'Confirm'

Documents Required for IOB Fixed Deposit

Identity proof:

  1. Passport
  2. Aadhaar card
  3. PAN card
  4. Voter ID card
  5. Driving licence
  6. Government ID card
  7. Photo Ration Card
  8. Senior citizen ID card

Address proof:

  1. Passport
  2. Telephone bill
  3. Electricity bill
  4. Bank Statement with Cheque
  5. Certificate/ ID card issued by Post office

FAQs on IOB Fixed Deposit Application

  • Who is eligible to use internet banking facility?

    All IOB customers are eligible to avail internet banking services

  • Can an IOB fd be opened offline?

    Yes. The same can be done by visiting the branch, filing an application form and furnishing relevant documents.

  • Is it required for the customer to have a savings account to open an fd in IOB?

    Yes. It is required to have a valid internet banking id and password to open an fd online.

  • Can an fd account be closed online?

    Yes. Premature withdrawals can also be made online. The money will be credited to the customer's savings account.

  • Is it possible to transfer funds online into the IOB fd account?

    Yes.

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