Indian Overseas Bank is yet another public sector bank which offers attractive interest rates for both long and short term fixed deposits. IOB Fixed deposit interest rates are varying in between 4.50 to 6.80%. For the time period below 120 Days, the interest rate is about 5.50%.
For one to ten Years, the interest rate is 6.80% for the amount below one Crore and you have to refer branch for the amount above 1 crore. But, Indian overseas bank FD interest rates for all amounts is the same for the period below 270 Days. These rates are effective from 5 April 2018.
IOB Fixed Deposit Interest Rates For 2019 are shown in Table:
|TIME PERIOD||INTEREST RATES (% p.a.)|
|For Deposits Below 1 Crore||For Deposits 1-10 Crores|
|7 Days to 14 Days||4.50%||Refer branch|
|15 Days to 30 Days||4.50%||*|
|31 Days to 45 Days||4.50%||*|
|46 Days to 60 Days||4.60%||*|
|61 Days to 90 Days||4.60%||*|
|91 Days to 180 Days||5.50%||*|
|181 Days to 270 days||5.75%||*|
|271 Days to 1 year||6.25%||*|
|1 Year to 2 Years||6.60%||*|
|2 Years to 3 Years||6.75%||*|
|3 Years to 5 Years||6.80%||*|
|5 Years to 10 Years||6.80%||*|
Interest rate on Non-resident account 2019 (NRE deposits):
|Maturity range||Amount below 1 crore|
|Amount above one crore|
|1 Year||6.60%||Contact Branch|
|1 Year to 2 Years||6.60%||Contact Branch|
|2 Year to 3 Years||6.75%||Contact Branch|
|3 Years to 5 Years||6.80%||Contact Branch|
|5 Years to 10 Years||6.80%||Contact Branch|
Table Updated: 19 February 2019
- Like other Public sector banks in India, the interest rate is 4% for normal saving, NRE and NRO accounts.
- Additional .50% interest rates are applicable for resident senior citizens (minimum amount of 1 lakh).
- You can get a 6.80% p.a with IOB Tax Saver Deposit Scheme. 1% penalty will be charged for the closing account before the maturity period.
- You have to refer branch to deposit amount above 1 crore.
Indian Overseas Bank Fixed Deposit Interest Calculator
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For more info visit official Indian Overseas bank website @http://www.iob.in/Rates_at_a_glance.aspx