Indian Overseas Bank Savings Account

Account Balance	Rate of Interests (p.a.)
Balance up to Rs. 1 lakh	2.50% (Non Linked to Repo Rate)
Above Rs. 1 lakh and upto Rs. 600 Crore	2.50%
Above Rs. 600 crore	6.25%

Note: Interest rates are updated as on 8th December 2025 and w.e.f. 15 Oct 2025.

Read more: Savings Account Interest Rates

Regular Savings Bank Account	IOB Savings Bank Gold I
IOB Savings Bank Gold II	IOB Savings Bank Silver I
IOB Savings Bank Silver II	IOB SB Student
IOB Savings Bank Little Star	IOB SB Defcom
IOB SB Defnon	IOB SB Arogiyamahila
IOB MACT Savings Bank

Regular Savings Bank Account

Indian Overseas Bank savings account offers benefits for individuals, clubs, associations, government bodies, joint accounts, societies (including co-operatives), and other non-trading organizations. Also, minors who are above the age of 10 years can apply for this savings accounts in their names. This account offers the below-mentioned features to the customers:

• The minimum balance to be maintained is Rs. 100 in non-cheque operated accounts in rural and semi-urban areas.
• The minimum balance to be maintained is Rs. 500 in cheque-operated accounts in rural and semi-urban areas.
• The minimum balance to be maintained is Rs. 500 in other branches for non-cheque operated accounts.
• The minimum balance to be maintained is Rs. 1,000 in other branches for cheque-operated accounts.
• Free 50 cheque leaves per annum
• Free internet banking and mobile banking facility
• Free international VISA/MasterCard/RuPay debit card
• Nomination facility is available
• Option to avail instant credit of outstation cheque up to Rs. 15,000
• Interest on this account is paid on daily basis

IOB Savings Bank Gold I

This Indian Overseas Bank savings account is designed for professionals like doctors, lawyers, CAs, executives working in MNCs, software companies, high-net-worth individuals, etc. For individuals who plan to open this account, their quarterly average balance should not be less than Rs. 50,000.

• ATM card is provided on the day of opening the account
• An international debit card is issued without any charges
• Free internet banking and mobile banking facility
• Facility to provide monthly account statements over e-mail
• No charges on transfer of funds through RTGS and NEFT
• Free personalized cheque books with the account holder’s name printed on them
• Free personal accident insurance cover of Rs. 5 lakhs
• No charges for opening a demat account
• Facility to pay bills online
• Free online tax payment
• Option to avail family health insurance

Note: If the quarterly average balance is between Rs. 50,000 and Rs. 1,00,000, the balance that exceeds Rs. 65,000, it will be automatically swept and will be kept in a fixed deposit in units of Rs. 2,000. (This will happen only if the user takes the sweep facility)

IOB Savings Bank Gold II

This Indian Overseas Bank savings account is designed for professionals like doctors, lawyers, CAs, executives working in MNCs, software companies, high-net-worth individuals etc. For individuals who plan to open this account, their quarterly average balance should not be less than Rs. 1,00,000.

• ATM card is provided on the day of opening the account
• An international debit card is issued without any charges
• Free internet banking and mobile banking facility
• Facility to provide monthly account statements over e-mail
• Free SMS alerts for daily transactions
• No charges on transfer of funds through RTGS and NEFT
• Free personalized cheque books with the account holder’s name printed on it
• Free personal accident insurance cover of Rs. 5 lakhs
• Free overseas travel card
• Option to avail family health insurance
• Free online tax payment
• Facility to pay bills online

Note: If the quarterly average balance is between Rs. 1,00,000 and above, the balance that exceeds Rs. 1,25,000, it will be automatically swept and will be kept in a fixed deposit in units of Rs. 2,000. (This will happen only if the user takes the sweep facility)

IOB Savings Bank Silver I

This Indian Overseas Bank savings account offers special products for individuals who are employed in public/private sectors, government sector, software companies etc. This account can be opened with zero balance, though, the account holder must maintain a quarterly average balance of Rs. 5,000.

• ATM card is provided on the day of opening the account
• An international debit card is issued without any charges
• Free internet banking and mobile banking facility
• Facility to provide monthly account statements over e-mail
• Free SMS alerts for daily transactions
• Option to avail online tax payment facility
• Free transfer of funds through RTGS and NEFT
• Free personal accident insurance of Rs. 1 lakh
• Facility to pay utility bills
• Facility to avail family health insurance – IOB-healthcare Plus
• Option to avail overdraft facility on one month’s salary in case of salaried individuals

IOB Savings Bank Silver II

IOB Savings Bank Silver II account is for individuals who are employed at companies belonging to the public/private sector, government sector, well-known software organizations, etc. The bank gives various concessions for maintaining an average daily balance of Rs. 5,000 over the last three months. To avail banking services, the user will have to maintain quarterly balance of Rs. 5,000.

• ATM card is provided on the day of opening the account
• An international debit card is issued without any charges
• Free internet banking and mobile banking facility
• Facility to provide monthly account statements over e-mail
• Free SMS alerts for daily transactions
• Free transfer of funds through RTGS and NEFT
• Option to avail online tax payment facility
• No charges are applied on opening a demat account
• Facility to avail family health insurance
• Free personal accident insurance of Rs. 1 lakh
• Facility to pay bills online

Note: If the quarterly average balance is between Rs. 25,000 and above, the balance that exceeds Rs. 35,000, it will be automatically swept and will be kept in a fixed deposit in units of Rs. 2,000. (This will happen only if the user opts for the sweep facility)

IOB Savings Bank Student

Indian Overseas Bank has designed a savings account for students who are 10 years of age and above. The maximum amount a student can maintain in this account is Rs. 50,000. The criteria of this amount will be removed once the account holder attains the age of 18 years. The minimum balance to be maintained in the account is Rs. 500 (If the applicant has taken prior permission, the average balance to be maintained would be zero)

• A debit card is issued without any charges
• A free cheque book is issued at the time of opening the account
• Free standing instructions facility
• Fund transfer facility

IOB Savings Bank Little Star

This savings account is designed for just born little stars. The account can be opened as a joint account with the parent/guardian up till the age of 10 years. Minors can self-operate this account when they are above 10 years of age. If the account is operated by the minor, the maximum balance to be maintained in the account is Rs. 50,000 only. However, if the parent/guardian operates the account, the ceiling of Rs. 50,000 is removed from the account.

• The minimum balance to be maintained is Rs. 100 for non-cheque book accounts
• The minimum balance to be maintained is Rs. 250 for cheque book account
• Collection of cheques is free
• Sweep in and sweep out facility available
• Cheque book facility for parents is available where the maximum withdrawal limit per cheque leaf is Rs. 2,000.

Note: If the balance in the account exceeds Rs. 10,000, the extra amount will be swept in a term deposit in units of Rs. 2,000.

IOB Savings Bank Defcom

This Indian Overseas Bank savings account is especially designed for defence personnel. The bank offers a host of concessions under this savings account. To apply for this account, an individual must be a commissioned officer serving in defence. The minimum balance to be maintained in this account is zero.

• Free transfer of funds through NEFT and RTGS
• Free and unlimited cheque book facility
• Option to avail auto sweep in and sweep out facility
• Free updation of passbook at a non-home branch
• Free international debit card with an add-on card free for spouse
• Free internet banking and mobile banking facility
• Option to avail personal accident insurance cover of Rs. 5 lakhs
• Make online tax payments for free
• Facility to pay bills online
• Option to avail family health insurance

IOB Savings Bank Defnon

This account is exclusively designed for defence personnel who are below the rank of commissioned officers and other staff. This account can be opened with zero balance and there is no need to maintain any minimum balance.

• Free transfer of funds through RTGS and NEFT
• Free and unlimited cheque book
• Free updation of passbook at a non-home branch
• Free international debit card with an add-on card free for spouse
• Option to avail personal accident insurance cover of Rs. 2.5 lakhs
• Make online tax payments for free
• Facility to pay bills online
• Option to avail family health insurance

IOB Savings Bank Arogiyamahila

This savings account is tailor-made for women customers. Women who are above the age of 18 years, have a regular source of income, and women who are working with any government, PSU, private sector, or MNCs, etc. are eligible to apply for this account. The minimum balance to be maintained in the account is Rs. 5,000 quarterly.

• Free transfer of funds through NEFT and RTGS
• Option to avail auto sweep in and sweep out facility
• Option to avail health insurance with maternity benefits and health check-ups with discounted rate of premium.
• Free international debit card
• Free internet banking and mobile banking facility
• Option to avail personal accident insurance cover of Rs. 1 lakh for free
• Free SMS alerts for all transactions
• Facility to pay bills online
• Make online tax payments for free

Note: If the balance in the account exceeds Rs. 25,000, the extra amount will be swept in a term deposit in units of Rs. 5,000.

IOB MACT Savings Bank

This account is designed for receiving MACT claims. The amount to be received in the account will be decided by the court. The account will be operated by a guardian if the account belongs to a minor. There is no minimum balance to be maintained in the account.

• Nomination is permitted
• The account cannot be changed to any other savings account.
• Withdrawals are allowed only through withdrawal forms or through biometric authentication.

Below-mentioned are the documents that need to be provided by the applicant at the time of opening a savings account in Indian Overseas Bank.

• Proof of identity
• Address proof
• Passport size photograph
• Duly filled application form

To fill Indian Overseas Bank savings account application form, click here to download it.

Note: Documents required for KYC may vary as per the prevalent regulatory guidelines as well as the bank’s internal policy.

Category	Fees and Charges
Issue of Cheque Book	50 cheque leaves free in a year. Thereafter, Rs. 4 per cheque leaf
Account Closure	No charges up to 14 days of opening and closed after one year After 14 days and up to one year with cheque book is Rs. 200 After 14 days and up to one year without cheque book is Rs. 100
Primary Card Issuance Fee	Free
Automatic renewal of debit card on expiry of validity	Free
Cheque Book Request through ATM	Rs. 55
Other Bank ATM Charges for SB Silver and SB Gold	Free withdrawals

Below-mentioned is the criteria that an individual must follow to open a savings account in Indian Overseas Bank:

• The customer should be of 18 years of age and above. However, minors can also open savings account in specific cases.
• The customer should be a resident of India and should be physically present at the time of account opening in India even if the customer is opening a digital savings account in Indian Overseas Bank.
• The mode of operation of the savings account is ‘self-operated’. However, guardians can operate the account of minors if the account is specific to minors.
• If customers want to open a digital savings account, they are advised to maintain a minimum quarterly balance of Rs. 1,000 in their account.

The below-mentioned steps show how to open Indian Overseas Bank digital savings account online:

Step 1: Go to IOB’s official website.

Step 2: Click on ‘Digital Banking’ and then navigate towards ‘Digital Initiatives’.

Step 3: Under ‘Digital Initiatives’, click on ‘Video-based SB account opening’.

Step 4: You will be now taken to the page where you will be shown all the terms and conditions to open this account. Click on the terms and conditions to proceed further.

Things to keep handy while opening IOB digital savings account:

• Original PAN card
• Original Aadhaar card
• Aadhar card must be linked to your mobile number
• Keep a white paper with black/blue pen for capturing signature during video KYC
• The background you are sitting in must be clear and well lit
• Please ensure a stable network connection

Applicants willing to open Indian Overseas Bank offline can do so by visiting the nearest branch of the bank. Below-mentioned steps explain how to open Indian Overseas Bank savings account offline.

Step 1: Visit the nearest branch of Indian Overseas Bank and fill out the savings account application form

Step 2: Upon filling the application form, provide your basic details to the bank official and choose the type of savings account you intend to open

Step 3: The bank official will then ask you to provide your self-attested Aadhar and PAN card

Step 4: Collect all the documents and submit the documents with deposit cash slip or demand draft and other proofs of your identity

Step 5: Your account will be opened upon successful verification of your documents by the bank

The bank will provide you with welcome kit that would contain further documents to help you operate your account.

Indian Overseas Bank Home Loan	Indian Overseas Bank Personal Loan
Indian Overseas Bank Credit Card	Indian Overseas Bank Fixed Deposit
Indian Overseas Bank Balance Enquiry	Indian Overseas Bank Mobile Banking
Indian Overseas Bank Account Statement	Indian Overseas Bank Customer Care

Q. What are the charges for non-maintenance of minimum quarterly balance in savings account?
Ans. The below-mentioned table shows charges applicable for not maintaining minimum quarterly balance. These charges do not apply to PMJDY, corporate salary, BSBDA, small accounts, savings bank defnon, savings bank defcom, in-operative, all government accounts, and government undertakings.

Extent of shortfall in Savings Account	Metro and Urban	Rural and Semi-Urban	Pensioners with cheque book
Shortfall <50%	Rs. 110	Rs. 75	Rs. 40
Shortfall >50-75%	Rs. 130	Rs. 90	Rs. 50
Shortfall >75%	Rs. 150	Rs. 105	Rs. 60

Q. Does Indian Overseas Bank provide a zero balance savings account?
Ans. Yes, Indian Overseas Bank provides three zero balance savings accounts called IOB savings bank account, IOB savings bank defnon, and IOB savings bank defcom.

Q. My application was rejected in video KYC in Indian Overseas Bank, am I eligible to apply again?
Ans. Yes, you can apply for a digital savings account in Indian Overseas Bank again even if your application was rejected.

Q. What is Indian Overseas Bank helpline number?
Ans. You can call on 1800 890 4445 or 1800 425 4445 for any queries that you have. This is a 24×7 helpline of the bank. Click here to know more about Indian Overseas Bank Customer Care details.

Q. How can I add more savings accounts to the internet banking account of Indian Overseas Bank?
Ans. To add more accounts to your internet banking account, you need to select ‘Edit Profie>Add Accounts. Upon doing so, add the details of the accounts to be added.

Q. How can I suspend my debit card through my IOB internet banking?
Ans. To suspend your debit card in IOB through internet banking, you need to login to internet banking > Select IOB Card > Select IOB Debit Card > Suspend debit card. Thereafter, select the debit card to be suspended and click on submit.

Note: The information on this page may not be updated. Kindly refer to the bank website to check the latest information.