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Indian Overseas Bank Fixed Deposit (FD): Features, Benefits, and Interest Rates

Indian Overseas Bank (IOB) offers a secure and rewarding Fixed Deposit (FD) scheme for customers looking to earn stable returns on their savings. With competitive interest rates, flexible tenure options, and tax-saving benefits, IOB FDs provide an excellent investment opportunity for individuals and businesses. Whether you are planning for short-term gains or long-term financial security, IOB’s FD schemes cater to various financial needs.

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Key Features of Indian Overseas Bank FD

1. Attractive Interest Rates – IOB offers competitive FD interest rates, with higher rates for senior citizens.
2. Flexible Tenure – Deposit funds for durations ranging from 7 days to 10 years, based on financial goals.
3. Multiple FD Options – The bank provides regular FDs, tax-saving FDs, and reinvestment plans.
4. Loan Against FD – Customers can avail of loans up to 90% of the FD amount, ensuring liquidity.
5. Auto-Renewal Facility – FDs can be automatically renewed upon maturity, making reinvestment hassle-free.
6. Nomination Facility – Account holders can nominate a beneficiary for easy fund transfer in case of emergencies.
7. Tax Benefits – The Tax Saver FD scheme offers tax deductions under Section 80C of the Income Tax Act.
8. Minimum Deposit Requirement – Customers can open an FD with a minimum deposit as low as ₹1,000.

Benefits of Investing in IOB Fixed Deposit

• Safe and Secure Investment – IOB FDs are backed by a government-regulated bank, ensuring capital protection.
• Guaranteed Returns – Unlike market-linked investments, FDs provide fixed interest earnings throughout the tenure.
• Senior Citizen Privileges – Higher interest rates for senior citizens help maximize returns.
• Liquidity Options – IOB allows premature withdrawal with nominal penalties, ensuring access to funds when needed.
• Multiple Interest Payout Choices – Customers can opt for monthly, quarterly, or cumulative interest payouts.
• Easy Online & Offline Access – Open and manage FDs via IOB Net Banking, Mobile Banking, or branch visits.

How to Open an Indian Overseas Bank FD?

1. Visit the Nearest Branch or Apply Online – Choose the desired FD scheme and tenure.
2. Submit KYC Documents – Provide Aadhaar, PAN card, and address proof for verification.
3. Deposit the Amount – Transfer the funds through cash, cheque, or online banking.
4. Receive FD Receipt – Once processed, the bank issues an FD certificate or e-receipt confirming the deposit.

With high returns, security, and flexibility, Indian Overseas Bank FDs are an excellent choice for individuals seeking stable investment options.