Indian Overseas Bank FD Interest Rates

The bank also offers various fixed deposit products for NRIs, such as NRO, NRE, RFC and FCNR fixed deposits. Indian Overseas Bank accepts FCNR fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc (CHF), New Zealand Dollar (NZD) and Singapore Dollar (SGD). The bank accepts RFC fixed deposits in USD, GBP, EUR, JPY, CAD and AUD.

Indian Overseas Bank FD Rates (p.a.) Highlights
Highest slab rate	6.60% (for 444 days)
For 1 year	6.50%
For 2 years	6.40%
For 3 years	6.10%
For 4 years	6.10%
For 5 years	6.10%
Tax-Saving FD	6.10%

The interest rates are updated as of 2 January 2026

Indian Overseas Bank FD Interest Rates

IOB FD Rates on Domestic/NRO/NRE Deposits of below Rs 3 crore w.e.f. 15 December 2025

Tenure	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens	Super Senior Citizens
7-14 days *	3.50	4.00	4.25
15-29 days	3.50	4.00	4.25
30-45 days	3.50	4.00	4.25
46-60 days	4.00	4.50	4.75
61-90 days	3.00	3.50	3.75
91-120 days	3.50	4.00	4.25
121-179 days	2.90	3.40	3.65
180-269 days	4.75	5.25	5.50
270 days to less than 1 year	5.50	6.00	6.25
1 year	6.50	7.00	7.25
Above 1 year to less than 2 years (except 444 days)	6.40	6.90	7.15
444 days	6.60	7.10	7.35
2 years to less than 3 years	6.40	6.90	7.15
3 years and above	6.10	6.60	6.85

* Minimum amount Rs 1 lakh

Explore Investment Options:

Bonds	Types of Bonds	Bonds vs FD
Corporate Bonds	Tax Free Bonds	Capital Gain Bonds
Government Bonds	Zero Coupon Bonds	Floating Rate Bonds

IOB FD rates on Green Deposit Scheme of deposits below Rs 2 Crore w.e.f. 15 September 2025

Tenure	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens	Super Senior Citizens
999 days	6.50	7.00	7.25

Check the expected earnings at maturity using our FD calculator

IOB Tax Saver Deposit

Tenure	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens
5 years to 10 years	6.10	6.60

Interest Rates on FCNR deposits w.e.f. 6 October 2025

Tenure	Interest Rates (% p.a.)
	USD	GBP	EUR	JPY	CAD	AUD	CHF	NZD	SGD
1 year to less than 2 years	5.25	4.75	2.50	0.03	0.50	0.70	0.00	1.00	0.42
2 years to less than 3 years	3.20	2.10	0.15	0.05	1.60	1.00	0.00	1.20	0.89
3 years to less than 4 years	3.15	2.15	0.15	0.05	1.80	1.25	0.02	1.40	1.09
4 years to less than 5 years	3.15	2.20	0.15	0.05	1.90	1.55	0.02	1.50	1.23
5 years only	3.15	2.25	0.15	0.05	1.95	1.85	0.02	1.60	1.39

Interest Rates on RFC deposits w.e.f. 6 October 2025

Tenure	Interest Rates (% p.a.)
	USD	GBP	EUR	JPY	CAD	AUD
6 months to less than 1 year	1.30	0.85	0.00	0.00	0.15	0.05
1 year	5.25	4.75	2.50	0.03	0.50	0.70
1 year to less than 2 years	5.50
2 years to less than 3 years	3.20	2.10	0.15	0.05	1.60	1.00
3 years	3.15	2.15	0.15	0.05	1.80	1.25

Types of IOB Fixed Deposit Schemes

Regular Fixed Deposit with Reinvestment of Interest component

• This scheme allows depositors to reinvest the interest earned on their deposit amount
• Minimum deposit amount: Rs 1,000 and thereafter in multiples of Rs 100
• Tenure: 6 months to 10 years
• Premature withdrawal is permitted
• Depositors can avail of loans of up to 90% on the principal and interest earned
• The interest is quarterly compounding and paid at the time of maturity

Special Fixed Deposit   

• This scheme is ideal for depositors who want regular monthly or quarterly interest income.
• Minimum deposit amount: Rs 3,000
• Tenure: 6 months to 10 years
• Payment of Interest: Monthly/Quarterly
• The monthly interest is paid at a discounted rate

Tax Saver Scheme

• Deposits under this scheme are eligible for deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act
• Deposit amount: Minimum- Rs 10,000; Maximum: Rs 1,50,000 in a financial year
• Tenure: 5 years to 10 years
• The deposit can be accepted in the form of a Fixed Deposit or reinvestment deposit (RDP) or Special Fixed Deposit (SFD)
• Interest can be payable quarterly or half-yearly or monthly
• The deposit cannot be used to secure a loan nor can it be used as collateral security
• Additional 0.50% p.a. over regular rates is offered to senior citizen FD depositors
• Nomination facility is available except in the case of deposits  held by and held for or on behalf of a minor

IOB Green Deposit

• IOB Green Deposit scheme is introduced for financing green activities & projects and developing green finance ecosystem in the country
• Minimum deposit amount: Rs 1,000
• Tenure: 999 days
• Interest Rate: 6.80% p.a.
• Senior citizens and super senior citizens are offered 0.50% p.a. and 0.75% p.a., respectively, on the interest rates offered to regular citizens
• Overdraft or Demand Loan facility is available against IOB Green Deposit

IOB Eighty Plus – Term Deposit

• This scheme is offered to super senior citizens aged 80 years and above
• Additional 0.75% p.a. over regular rates is offered to super senior citizens
• Deposit amount: Minimum – Based on the respective schemes (RDP/SFD-(M/Q)/RD); Maximum – Less than Rs 1 crore
• Tenure: 6 months to 10 years
• Loans of up to 90% are permitted for self or jointly with spouse only

Floating Rate Deposits

• Minimum deposit amount: Rs 1 lakh and thereafter in multiples of Rs.10,000
• Tenure: 3 years – 10 years
• The interest on the deposit is credited quarterly on the 1st working day of January, April, June & September
• The deposit received under this scheme will carry an interest rate subject to the following conditions:
  • Tenure: 3 years to 5 years: 5-year G-Sec rate (daily average for the last 6 months)
  • Tenure: 5 years to 10 years: 10 years G-Sec rate (daily average for the last 6 months)
  • Interest rates will be changed every 6 months as on 1st March & 1st September every year irrespective of the date of FD opening
• Premature closure of FD is allowed if the account is opened for at least 3 years and a notice of premature closure has been submitted at least 10 days in advance
• 1% penal interest rate is deducted from the applicable floating interest rate.
• A loan of up to 90% of the deposit amount is allowed. The loan’s interest rate will be 2% over the floating rate for self-borrowers and 3% above the floating rate for third-party borrowers

Vardhan – Deposit of Senior Citizens

• Senior Citizens aged 60 years and above can open FD under the Vardhan Scheme
• Minimum deposit amount: Rs 5,000
• Tenure: 15 days to 10 years
• Additional 0.50% p.a. interest rate is offered to senior citizen FD depositors
• Additional benefits:
  • FREE International debit cards
  • Collection of outstation instruments up to Rs 10,000 per month, subject to a maximum of 2 instruments per month in the name of senior citizen. The collection can be made without collection charges. However, actual postage will be recovered.

IOB Suvidha

• This scheme offers a term deposit with a cash credit facility and a personalized cheque book
• Minimum deposit amount: Rs 1 lakh
• Tenure: 15 months to 10 years
• Cash Credit Limit: 90% of the principal amount; Minimum: Rs. 90,000; Maximum: Rs. 25 crore
• The top-up facility is permitted in multiples of Rs 1 lakh each and the CC limit is accordingly fixed at 90% of the principal amount of deposits available as security
• Minimum margin for Loan Against Deposit: 10%

IOB Saral

• This reinvestment deposit scheme offers term deposit with an option to withdraw a portion of deposits while keeping the rest at the contracted rate of interest
• Minimum deposit amount: Rs 10,000
• Tenure: 1 year to 10 years
• Penal Interest Rate on Premature Withdrawal
  • Upto Rs. 15,000 – NIL
  • Above 15,000 to 5 lakhs – 0.50%
  • Above 5 lakhs – 1%
• No interest will be payable if NRI deposits are closed before 12 months
• The depositor will have the option of combining multiple deposits into a single portfolio and withdrawing only the amount needed, with the remaining balances earning interest at the contracted rate

Motor Accident Claims Annuity (Term) Deposit Account- IOB MACAD

• Minimum deposit amount: Based on a minimum monthly annuity payout of Rs. 1,000
• Tenure: 3 years to 10 years
• Normal FD is to be opened if the deposit period is less than 36 months
• Nomination facility is allowed
• No loan or Overdraft is permitted
• With the Court’s authorization, MACAD can be closed early or paid in a part lump sum during the life of the claimant. If allowed, the annuity portion will be reissued for the remaining tenure and amount, if any, with the change in the annuity amount
• Penalty for premature closure is not applicable

Foreign Currency (Non-Resident) Account

• Depositors can hold deposits in any of the 9 foreign currencies: US Dollar (USD), Great Britain Pound (GBP), EURO (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollars (SGD), New Zealand Dollar (NZD), Swiss Franc (CHF)
• Minimum amount of deposit: 1000 units of foreign currency for all currencies except JPY for which it is 1 lakh units.
• Tenure: 1 year – 5 years
• The deposit amount and interest are fully repatriable
• Premature closure facility is available
• However, the interest rate will be 1% below the rate that was in effect during the time the deposit was open
• No interest will be payable if the deposit is closed before the completion of 1 year

Non-Resident External (NRE) Accounts

• Loan facility is available against the security of NRE fixed deposits
• Premature closure of deposit is allowed subject to conditions
• Nomination facility is available
• The entire deposit amount is fully repatriable

Resident Foreign Currency (RFC) Account

• Depositors can hold deposits in any of the 6 foreign currencies: USD, GBP, JPY, EUR, AUD and CAD
• The account can be maintained by an NRI who has returned home for permanent settlement, after staying abroad for a minimum period of 1 year
• The account can be opened without any regulatory approval from the RBI

Premature Withdrawal Facility of Fixed Deposits

• This is a facility to withdraw the fixed deposit before its date of maturity
• Indian Overseas Bank provides premature withdrawal facility to its investors to remedy financial emergencies
• The bank may charge a penalty as a 1% deduction from the applicable IOB FD rates
• Available in Vardhan scheme, Reinvestment Deposit, Floating Rate Deposit, etc.
• Not available for Tax Saver Scheme
• Fore Closure Charges:
  

  Particulars	Charges
  Deposits up to Rs. 15,000	NIL
  Deposits of Rs. 15,001 to up to Rs. 5 lakh	0.50%
  Deposits above Rs. 5 lakh to below Rs. 2 crore	1%
  Bulk Deposits of Rs. 2 crore & above	1%

Loan against FD

• IOB provides its investors with the option of availing loan against FD where the FD is kept as collateral
• In case of non-payment of the loan amount, the FD amount is used to recover the loan amount
• Loan can be availed for up to 90% of the balance in the FD
• This facility is not extended to the Tax Saver Scheme

IOB FD Calculator

In order to ascertain the exact maturity amount that one may get as per the prevailing IOB FD interest rates, interested customers are highly advised to use the IOB FD calculator available at Paisabazaar.com. This tool can be used by anyone any number of times to compare the maturity amounts one may earn at different IOB fixed deposit rates.

FAQs

Q. What is the minimum tenure offered by Indian Overseas Bank for opening FDs?

A: The minimum tenure to open an Indian Overseas Bank FD is 15 days. Deposits of Rs 1 lakh and above can be opened for a minimum period of 7 days.

Q. What is the maximum tenure offered by Indian Overseas Bank for opening FDs?

A: The maximum tenure offered by Indian Overseas Bank for opening FDs is 10 years.

Q. What happens to a joint FD opened on ‘Either or Survivor Mode’ with Indian Overseas Bank in case of the death of one of the account holders?

A: In the case of the death of one of the account holders of a joint FD opened in ‘Either or Survivor’ mode, the account is operated by the surviving account holder and the FD proceeds are also paid to the surviving account holder.

Q. Who can operate the joint FDs opened on ‘Either or Survivor Mode’ with Indian Overseas Bank?

A: Any of the account holders can operate the joint FDs opened on ‘Either or Survivor Mode’ with Indian Overseas Bank.

Q. Who can operate the joint FDs opened on ‘Anyone or Survivor Mode’ with Indian Overseas Bank?

A: If the joint FD opened on ‘Anyone or Survivor Mode’ by more than 2 individuals, the account can be operated by any one of the account holders

Q. What happens to a joint FD opened on ‘Anyone or Survivor Mode’ with Indian Overseas Bank in case of the death of one of the account holders?

A: In case of the death of any one or more account holders of a joint FD opened on ‘Anyone or Survivor Mode’ with Indian Overseas Bank, the account can be operated by the surviving account holders and the FD proceeds too are paid to the surviving account holders.

Q. Who can operate the joint FDs opened with Indian Overseas Bank on ‘Joint Operation Mode’?

A: Joint FDs opened with Indian Overseas Bank on ‘Joint Operation Mode’ are to be operated jointly by all the account holders of the FD.

Q. Can an NRI open a joint NRO FD with a resident Indian in Indian Overseas Bank?

A: Yes, an NRI can open a joint NRO FD with a resident Indian in Indian Overseas Bank.

Q. Can a resident Indian be a joint account holder of an NRE FD in Indian Overseas Bank?

A: A resident Indian cannot be a joint account holder of an NRE FD in Indian Overseas Bank. All the joint account holders of IOB NRE FD account have to be NRIs or Persons of Indian Origin (PIO).

Q. Does Indian Overseas Bank allow addition or deletion of account holders in its joint FDs?

A: IOB at the request of all the joint account holders allows the addition or deletion of name(s) of joint account holder/s.

Q. Does Indian Overseas Bank allow loan against its fixed deposits?

A: Indian Overseas Bank allows loans against fixed deposits of up to 90% of the deposit amount.

Q. Does Indian Overseas Bank allow loan against its fixed deposits opened in the name of minors?

A: Indian Overseas Bank allows loan against FDs opened in the name of minors whose guardian is competent to borrow on behalf of the minor and where the loan/advance is made to the guardian of the minor in such a capacity.

Q. Is Indian Overseas Bank safe for opening fixed deposits?

A: Indian Overseas Bank has been recognized as a scheduled bank by the RBI. This makes its depositors eligible for deposit insurance cover of up to Rs 5 lakhs in case the bank defaults. This insurance cover is provided by the RBI subsidiary, DICGC, and covers cumulative deposits (including savings accounts, fixed deposits, current accounts and recurring deposits) of each depositor of each scheduled bank.

Q. Who are eligible to open fixed deposits with Indian Overseas Bank?

A: Individuals, guardians on behalf of minors, partnerships, proprietorships, Limited Companies , NRIs, clubs, associations, societies, educational institutions, etc can open an FD with Indian Overseas Bank

Q. Does Indian Overseas Bank offer any special fixed deposit scheme for senior citizens?

A: Indian Overseas Bank offers a special fixed deposit scheme for senior citizens termed as ‘Vardhan – Deposit of Senior Citizens’. Senior citizens get an additional 0.50% p.a. interest rate on regular FDs offered to general citizens.

Q. Does Indian Overseas Bank offer any fixed deposit monthly income scheme for its depositors?

A: Depositor seeking monthly interest income from their Indian Overseas Bank FDs can avail the bank’s ‘Special Fixed Deposit’ scheme.

Q. Does Indian Overseas Bank allow senior citizens to open joint FD account?

A: Indian Overseas Bank allows two or more senior citizens to open joint FD accounts. The bank also allows senior citizens to open joint FDs with non-senior citizens as long as the senior citizen is the first account holder of the FD account.