Indian Overseas Bank FD Rates & Calculator

The IOB FD interest rates promise generous returns across investment routes. The FD rates differ as per the customer type (regular, senior citizen, NRI, etc.) and the length of the tenor. Here are the Indian Overseas Bank fixed deposit interest rates.

The Indian overseas bank FD rates go up to 7.75%, and for the best rate you should consider the scheme for 444 days. 

Do note that these rates are for deposits of less than ₹2 Crore. For deposits of ₹2 Crore, a customer support staff will help you get the best FD rate. Note also, that the rate for 7–14 days requires a minimum investment of ₹1 Lakh.

The Indian Overseas Bank fixed deposit interest rates for regular and senior citizen investors are 6.50% and 7% respectively.

Indian overseas bank fixed deposit rates for NRE accounts are as follows.

You can use an IOB FD calculator to forecast your maturity value. Barring the floating rate FD scheme, the others offer fixed returns. Hence, the IOB fixed deposit interest rates calculator will predict your returns at the end of the tenor accurately.

Here are the kind of results you can get from the IOB fixed deposit calculator.

Use the Indian overseas bank fixed deposit interest rates calculator to select the right principal and tenor. Once you know your goals, you can tweak values on the IOB FD interest rates calculator to achieve the maturity value you need.

Below is the list of IOB fixed deposit schemes:

• Reinvestment deposit plan

• IOB Eighty Plus TD

• Vardhan – Deposit for senior citizens

• Floating rate deposit

• Special fixed deposit (M-Q)

• Multiple Deposit Plan I and II

• NRO Tax Saver

• IOB Saral

• IOB Suvidha

• Unfixed deposit

• FCNR deposit

• RCF deposit

It helps you maximise the effect of the current Indian overseas bank FD rates by benefitting from the power of compounding.

• Reinvest the interest earned to earn interest on interest

• Get a loan of up to 90% of the principal and interest accrued

• Make a premature withdrawal without any penalty

• Start investing with as little as ₹1,000

This special scheme offers an interest rate benefit over and above the IOB senior citizen interest rate.

• Apply as a super senior citizen, aged 80 and above

• Get additional rate benefit of 0.25% over IOB FD rates for senior citizen (total rate benefit is 0.75%)

• Invest flexibly over 6–120 months

• Benefit from nomination facility

• Avail a loan of up to 90% of the FD value at a nominal rate

• Book an FD with ₹1,000 or more 

This is the official Indian overseas bank senior citizen scheme. IOB senior citizen FD rates are typically 0.50% higher than the prevailing card rates.

• Benefit from up to 0.50% rate hike on the current IOB FD rates

• Get a free international debit card

• Invest flexibly for 15 days to 120 months

• Open an FD with ₹5,000 or more

• Book a joint IOB FD with another senior citizen or a regular customer

With this IOB fixed deposit, you can claim a deduction of up to ₹1.5 Lakhs under Section 80C of the Indian Income Tax Act.

• Open a tax saving FD as an individual, a Karta of an HUF, or jointly

• Invest ₹10,000 – ₹1,50,000 in an account in a financial year

• Claim an income tax deduction of up to ₹1.5 Lakh under Section 80C

• Take back maturity proceeds after 5–10 years

• Pick between reinvestment deposit (RDP), fixed deposit or special fixed deposit (SFD)

• Transfer your deposit between IOB branches

• Opt to have interest paid monthly, quarterly, or bi-yearly

• Get a rate hike of 0.50% on the current IOB fixed deposit interest rates as a senior citizen

• Benefit from nomination facility

For this FD, the IOB bank FD rates are not fixed through the tenor. They are linked to the G Sec rates and are reset once in 6 months.

• Start and FD as an individual, jointly, for a minor, as an HUF, trust, company, or firm

• Choose from a flexible tenor of 3–10 years

• Ensure your FD rate matches the 5- or 10-year G Sec rate (based on tenor of FD)

• Benefit from no upper limit on deposit amount (minimum amount is ₹1 Lakh)

• Get interest payouts every quarter

• Close your FD prematurely after completing 3 years

• Obtain a loan of up to 90% of the FD value

Here, the “M” stands for “monthly” and “Q” for “quarterly”. This IOB FD offers interest payments every month or quarter. Be aware that the Indian Overseas bank FD interest rates depend on the payout frequency. With monthly payouts, the FD rate will be lower.

• Get interest payouts every month or quarter (Ideal for senior citizens or those on a pension)

• Invest with ₹3,000 or more

• Receive maturity proceeds after a tenor of 6–120 months

You can make several deposits under an FD account, and each payment is treated as a separate deposit which matures after a specified period. You get a single Indian overseas bank FD passbook that contains each remittance along with details like the interest rate and maturity value.

• Apply as an individual

• Start investing with as little as ₹100

• Choose a tenor between 6 and 120 months

• Benefit from interest compounded quarterly and paid at maturity

This scheme is very similar to Multiple Deposit Plan I and extends to you the facility of withdrawing part of the deposit amount by closing some units while earning from the rest.

• Apply as an individual, jointly, or as an institution, company, firm, society, etc.

• Start investing with as little as ₹10,000

• Choose a tenor between 6 and 120 months

• Benefit from interest compounded quarterly and paid at maturity

This is a special IOB FD plan you can opt for if you are a Non-Resident of Indian Origin (NRO) with income other than investment income. 

• Book an IOB FD with ₹10,000 – ₹1,50,000

• Invest flexibly over 5–10 years

• Get a tax exemption of up to ₹1.5 Lakh under Section 80C 

In this Indian overseas bank fixed deposit scheme, your investment is broken up into a number of units of small value. You can withdraw some units and continue to earn interest on the rest.

• Apply as an individual, NRI, NRO, or minor

• Invest with ₹10,000 or more (no upper limit)

• Pick a tenor ranging from 1–10 years

• Earn interest on interest

• Withdraw prematurely at nil to nominal rates

With this plan, you get an IOB FD with a cash credit facility. 

• Apply as an individual, NRI, NRO, firm, corporate, PSU, HUF, trust, society, or institution

• Invest ₹1 Lakh or more

• Pick a tenor of 15–120 months

• Get a cash credit limit of up to 90% of the principal amount

• Benefit from a top-up facility

• Avail a debit and credit card

Having considered these facets of the IOB fixed deposit, set aside funds and grow your wealth at leading FD interest rates. Start your investment journey with top assets from Bajaj Markets.