Indian Overseas Bank (IOB) has increased interest rates on its special 444-day fixed deposit (FD) scheme by up to 15 basis points, offering higher returns to depositors. The revised interest rates came into effect on November 10, 2026, following a review by the bank’s Asset-Liability Committee (ALCO).
According to the bank’s revised rates, general customers investing in callable term deposits of less than Rs 3 crore will now earn 6.75 per cent interest, compared with the earlier rate of 6.60 per cent.
The interest rate on 444-day non-callable term deposits has also been increased from 6.75 per cent to 6.85 per cent. These deposits are available for amounts above Rs 1 crore.
Meanwhile, the interest rate on 444-day Non-Resident External (NRE) term deposits has been revised from 6.60 per cent to 6.75 per cent.
IOB FD interest rates for 444 days
Here is a look at the revised interest rates offered by Indian Overseas Bank across its three categories of 444-day deposits:
| Type of FD | Earlier rate | Revised rate |
|---|---|---|
| Callable FD (below Rs 3 crore) | 6.60% | 6.75% |
| Non-callable FD (above Rs 1 crore) | 6.75% | 6.85% |
| NRE FD (below Rs 3 crore) | 6.60% | 6.75% |
IOB FD interest rates for senior citizens
Senior citizens aged 60 years and above will continue to receive an additional 0.50 percentage point interest over the applicable rate. With the latest revision, they can earn 7.25 per cent on the 444-day callable term deposit.
Super senior citizens aged 80 years and above are eligible for an additional 0.75 percentage point interest, taking the rate to 7.50 per cent on the same tenure.
The revised rates for senior and super senior citizens are as follows:
| Type of FD | General customers | Senior citizens | Super senior citizens |
|---|---|---|---|
| Callable FD | 6.75% | 7.25% | 7.50% |
| Non-callable FD | 6.85% | 7.35% | 7.60% |
| NRE FD | 6.75% | 7.25% | 7.50% |
The bank clarified that interest rates across all other tenures of callable, non-callable and NRE term deposits, along with NRO retail term deposits, remain unchanged.
How much will Rs 1 lakh, Rs 3 lakh and Rs 5 lakh earn?
According to LiveMint’s calculations, an ordinary investor depositing Rs 1 lakh would earn approximately Rs 7,000 in interest. Senior citizens investing the same amount would earn around Rs 7,500, while super senior citizens would earn approximately Rs 7,800.
For an investment of Rs 3 lakh, an ordinary investor would earn around Rs 20,600 in interest. Senior citizens would earn approximately Rs 22,400, while super senior citizens would earn around Rs 23,200.
Similarly, for a deposit of Rs 5 lakh, the estimated interest earnings would be around Rs 34,200 for ordinary investors, Rs 37,300 for senior citizens and Rs 38,600 for super senior citizens.
| Deposit amount | General customers | Senior citizens | Super senior citizens |
|---|---|---|---|
| Rs 1 lakh | Rs 7,000 | Rs 7,500 | Rs 7,800 |
| Rs 3 lakh | Rs 20,600 | Rs 22,400 | Rs 23,200 |
| Rs 5 lakh | Rs 34,200 | Rs 37,300 | Rs 38,600 |
Note: These are approximate interest earnings reported by LiveMint. The article cites a 6.67 per cent calculation rate for general customers, although the revised callable FD rate is 6.75 per cent. Actual maturity proceeds may vary.
What about other IOB FD tenures?
Indian Overseas Bank has clarified that the latest revision applies to the special 444-day deposit scheme. Interest rates across other callable, non-callable and NRE deposit tenures, as well as NRO retail term deposits, remain unchanged.
The bank has not provided the complete interest-rate slab for all other FD tenures in the report.
About Indian Overseas Bank
Founded in February 1937, Indian Overseas Bank was among the 14 major banks nationalised by the Indian government in 1969. The bank currently has 3,542 branches and around 3,729 ATMs, along with an international presence in Singapore, Hong Kong, Thailand and Sri Lanka.
For the quarter ended September 30, 2026, the bank reported an operating profit of Rs 3,016 crore and a net profit of Rs 1,912 crore.