Indian Overseas Bank is a prominent public sector bank in India, offering a range of financial services. It offers fixed deposits with flexible tenures and attractive interest rates, including higher rates for senior citizens. Use the calculator to estimate your interest earnings and maturity amounts, making it easy to plan your investments.
Here is the interest rate table for fixed deposits of less than 3 crore:
| Tenure | General Customers (%) | Senior Citizen (%) |
|---|---|---|
| 7-14 Days | 4.00 | 4.50 |
| 15-29 Days | 4.50 | 5.00 |
| 30-45 Days | 4.50 | 5.00 |
| 46-60 Days | 4.50 | 5.00 |
| 61-90 Days | 4.25 | 4.75 |
| 91-120 Days | 4.75 | 5.25 |
| 121-179 Days | 4.25 | 4.75 |
| 180-269 Days | 5.75 | 6.25 |
| 270 Days to < 1 Year | 5.75 | 6.25 |
| 1 Year to < 2 Years (Except 444 Days) | 7.10 | 7.60 |
| 444 Days | 7.30 | 7.80 |
| 2 Years to < 3 Years | 6.80 | 7.30 |
| 3 Years and Above | 6.50 | 7.00 |
Data last updated on 01/09/2024. Check latest interest rates here.
Indian Overseas Bank FD Calculator
Indian Overseas Bank FD FAQs
What is a Reinvestment Deposit Plan?
A Reinvestment Deposit Plan allows you to reinvest the interest earned on your deposit, earning interest on both the principal and the interest.
Who can open a Reinvestment Deposit Plan at Indian Overseas Bank?
Individuals, traders, self-employed persons, and salaried persons can open a Reinvestment Deposit Plan.
What is the minimum amount required for a Reinvestment Deposit Plan?
The minimum deposit amount is ₹1,000, and deposits can be made in multiples of ₹100.
How is interest paid on the Reinvestment Deposit Plan?
Interest is compounded quarterly and paid at the time of maturity.
Can I get a loan against my Reinvestment Deposit Plan?
Yes, you can avail loans of up to 90% on the principal and the interest accrued.
Is premature closure allowed for the Reinvestment Deposit Plan?
Yes, you can close your deposit prematurely without any difficulty.