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    Indian Overseas Bank Fixed Deposit Rates

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.75% Compound yearly
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7% - 7.25% Compound yearly
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Indian Overseas Bank Fixed Deposit Rates is Rated as "Great!" by 19 Users

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    How to find the best rates for Indian Overseas Bank

    Indian Overseas Bank (IOB) was founded by Shri.M.Ct.M. Chidambaram Chettyar, a Banking, Insurance and Industry entrepreneur to help in trade finance and foreign exchange business. IOB is the only Indian bank to inaugurate three branches simultaneously in 1937 - at Karaikudi and Chennai in India and Rangoon in Burma (presently Myanmar) followed by a branch in Penang in Malaysia.

    For the year ending in December, 2014, IOBs business touched INR 4,11,355 crores ( YoY growth 6.18%) and its deposits stood at INR 2,32,823 Crores (YoY growth 9.14%). The banks operating profit for the same period was Rs. 2,142.17 crores (YOY growth -23.66%).

    You can check the latest interest rates from Indian Overseas Bank in the table given above. Fixed deposit rates are highly dynamic figures that tend to change according to the market or company policies. As such, you should be sure you have the latest rates before applying for a fixed deposit account.

    Indian Overseas Bank short term FD rates

    IOB offers interest rates varying from 4- 6.25 % for tenor ranging from 7 days to 1 year. For the shortest fixed deposit tenor of 7-14 days (minimum amount Rs. 1 lakh) IOB provides interest of 4%. For fixed deposits from 15 days to up to 90 days, the interest rate is 4.5%. For deposits from 91 days to 120 days the rate moves up to 5%, for 121 days to 179 days to 5% and from 180 days to 269 days it is 5.75 %. For deposits from 270 days to 1 year, the interest rate is 6.25%.

    Indian Overseas Bank medium and long term FD rates

    For one year and above, IOB offers interest rate of 7.25 % on fixed deposits.

    Indian Overseas Bank Senior citizen FD rates

    For resident senior citizens, interest rates vary from 5- 8.75 % for tenor ranging from 7 days to 1 year. For the shortest fixed deposit tenor of 7-14 days (minimum amount Rs. 1 lakh) IOB provides interest of 5%. For fixed deposits from 15 days to up to 90 days, the interest rate is 5%. For deposits from 91 days to 120 days the rate moves up to 7.25%, for 121 days to 179 days to 7.5% and from 180 days to 269 days it is 8.25 %. For deposits from 270 days to 1 year, the interest rate is 8.5%.

    News About Indian Overseas Bank Fixed Deposit

    • Fixed Deposit Rates of IOB Revised

      One of the major public sector banks, headquartered in Chennai, Indian Overseas Bank (IOB) offers term deposits with attractive interest rates for different tenures. Repo rate alterations from the Reserve Bank of India have affected the way IOB is offering its products and services to customers. With the reduction in the base rate of Indian Overseas Bank, a series of changes can be seen in its fixed deposit rates.

      Interest rates for deposits up to Rs 1 crore have been revised. The rates for 1 year to less than 2 years is 7.30%. Term deposits with tenures 2 years to 3 years; 3 years to less than 5 years; and 5 years & above have 7% rate of interest. This new rate is effective from April 06, 2016.

      11th April 2016

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