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Indian Overseas Bank - Fixed Deposit Interest Rates
Rates last updated by the bank on 15-May-26. Visit bank site
Rates last updated by the bank on 15-May-26.
₹5l DICGC insuredDICGC insured up to ₹5L
•Ranked #39 of 51 banks on FD rates
| KEY TENURES | General | Senior | Super Sr. |
|---|---|---|---|
6 Months | 4.50% | 5.00% | 5.25% |
1 Year | 6.50% | 7.00% | 7.25% |
444 days | 6.60%BEST | 7.10%BEST | 7.35%BEST |
2 Years | 6.40% | 6.90% | 7.15% |
3 Years | 6.40% | 6.90% | 7.15% |
5 Years | 6.10% | 6.60% | 6.85% |
•For callable FDs < ₹3 Cr•Premature withdrawal penalty applies
Compare with other banks
Bank Overview
Type
PublicHeadquarters
ChennaiFounded
1937Branches
3494DICGC Coverage
₹5 LakhsFinancial Health Indicators(FY 2026)
NNPA
0.21%Strong
CAR
19.78%Strong
PCR
97.50%Strong
LCR
121.98%Strong
CASA
41.46%Strong
Frequently Asked Questions
As of August 2026, Indian Overseas Bank offers a highest interest rate of 6.60% p.a. for general citizens and 7.10% p.a. for senior citizens on fixed deposits.
Yes, Indian Overseas Bank is a registered bank regulated by the RBI. Your deposits (up to ₹5 Lakhs per depositor) are insured by DICGC, which covers both principal and accrued interest.
The minimum tenure for a fixed deposit with Indian Overseas Bank starts from 7 Days. Longer tenures may offer higher interest rates.
Yes, Indian Overseas Bank offers an additional benefit of up to 0.50% p.a. over the general citizen rate for senior citizens (aged 60 and above).
Yes, interest earned on fixed deposits is taxable as per your income tax slab. TDS is deducted at 10% if total interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
Indian Overseas Bank (IOB) charges zero penalty for small deposits up to ₹15,000. Deposits between ₹15,001 and ₹5 lakh attract a 0.50% penalty, while deposits above ₹5 lakh attract a 1.00% penalty. Non-callable deposits cannot be closed prematurely.
As of August 2026, Indian Overseas Bank offers special FD rates for 444 days at 6.6% (7.1% for Seniors).
FD Calculator
Months
Days
MATURITY AMOUNT
₹1,06,660
MATURITY DATE
21 Aug 2027
Interest rate6.50% p.a.
Principal₹1,00,000
Total interest₹6,660
Indicative only. Actual figures may vary.