Indian Overseas Bank (IOB) has increased interest rates on its 444-day term deposits by up to 15 basis points (bps), with the revised rates effective November 10, 2026.
The rate on 444-day callable term deposits of less than ₹3 crore has been raised by 15 bps to 6.75% per annum from 6.60% earlier, according to the bank’s revised rate schedule.
For non-callable term deposits, the interest rate has been increased by 10 bps to 6.85% from 6.75%. These deposits are available for amounts exceeding ₹1 crore and ₹1,000.
The bank has also raised the interest rate on 444-day Non-Resident External (NRE) term deposits of less than ₹3 crore to 6.75% from 6.60%, a 15-bps increase.
IOB revised FD interest rates
The revised interest rates for the 444-day tenure are as follows:
| Deposit category | Existing rate | Revised rate |
|---|---|---|
| Callable term deposit (below ₹3 crore) | 6.60% | 6.75% |
| Non-callable term deposit* | 6.75% | 6.85% |
| NRE term deposit (below ₹3 crore) | 6.60% | 6.75% |
Non-callable deposits require a minimum deposit of ₹1,00,01,000 (₹1 crore and ₹1,000).
Higher FD interest rates for senior citizens
Senior citizens aged 60 years and above continue to receive an additional 0.50 percentage point over the applicable deposit rate, while super senior citizens aged 80 years and above are eligible for an additional 0.75 percentage point.
On the 444-day callable term deposit, this takes the applicable interest rate to:
| Depositor category | Interest rate |
|---|---|
| General depositors | 6.75% |
| Senior citizens (60 years and above) | 7.25% |
| Super senior citizens (80 years and above) | 7.50% |
These rates are for the 444-day callable term deposit.
Other IOB fixed deposit rates unchanged
IOB said interest rates across other tenures of callable, non-callable and NRE term deposits, along with NRO retail term deposits, remain unchanged.
The interest rate on the bank’s Tax Saver Deposit continues at 6.10% per annum. Rates for bulk deposits of ₹3 crore and above are determined separately by the bank.