IOB Bank Recurring Deposit Schemes & Interest Rates
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Get the Highest Interest Rates on Recurring Deposit account for Indian Overseas Bank
Overseas Bank offers attractive rates of interest on the Recurring Deposit scheme to its customers. The RD scheme of Overseas Bank is very popular since it provides high rates of interest to its customers. The tenure varies from 6 months to 10 years. Overseas Bank gives a loan of up to 90% of the deposited amount to the customers. The customers are required to invest a minimum of 50 rupees per month and the deposit has to be made in the multiples of 5 after that.
|
Tenure |
Interest Rate |
Interest Rates for Senior Citizens |
|
180 days - 269 days |
5.75 |
6.25 |
|
270 days -< 1 year |
6.25 |
6.75 |
|
1 yr only |
6.75 |
7.25 |
|
>1 yr - < 2 yrs |
6.5 |
7 |
|
2 yrs to 3 yrs |
6.25 |
6.75 |
|
> 3 Yrs - < 5 Yrs |
6 |
6.5 |
|
5 Yrs & above |
6 |
6.5 |
Indian Overseas Bank Short-Term Recurring Deposit Interest Rates
The Indian Overseas Bank customers have an option of opening a short-term RD account for a tenure of 6 months-3 years. The interest rate applicable on short-term deposits ranges from 5.75%-7% per annum when the deposit id less than a crore.
Indian Overseas Bank Medium and Long-Term Recurring Deposit Interest Rates
The customers of Indian Overseas Bank can also open medium and long-term deposit accounts. The tenure for medium-term deposit account varies form 3-5 years and the tenure of long-term deposit account varies form 5-10 years. The depositors earn an interest rate of 7% per annum on these deposits.
Indian Overseas Bank Senior Citizen Recurring Deposit Interest Rates
A Recurring Deposit account can also be opened for senior citizens with attractive rates of interest. However, no special interest rates are provided to senior citizens.
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