Indian Overseas Bank RD Calculator

Indian Overseas Bank Recurring Deposits Explained

This IOB RD calculator reproduces the quarterly compounding Indian Overseas Bank applies to each instalment, so the maturity value above is the figure the branch will confirm. Indian Overseas Bank offers recurring deposits from six months to ten years. Founded in Chennai in 1937 with a deliberately international remit from its first day of business, IOB retains a branch network weighted towards Tamil Nadu and the southern states, alongside a long-standing overseas presence that makes it a common choice for NRI depositors with family banking in the region.

IOB RD Schemes You Can Open

IOB offers a conventional recurring account alongside periodically-issued named deposit schemes:

• •IOB Regular Recurring Deposit — The conventional product: a fixed instalment on a fixed date for the full tenure, in three-month tenure steps with a low minimum monthly deposit.
• •IOB Vardhan Deposit — One of the bank's named deposit schemes with its own terms and tenure conditions. Named schemes open and close between rate revisions, so confirm availability first.
• •Senior citizen and NRE / NRO variants — The additional rate benefit for resident depositors aged 60 and above, and recurring accounts for non-resident depositors where repatriation follows the underlying account type.

Missed Instalments and Early Closure at IOB

IOB RD interest rates are locked on the opening date and hold for the full tenure, so a missed month costs a fee rather than a lower rate. IOB charges a default fee for each instalment missed, calculated per hundred rupees of the instalment per month of delay and recovered on regularisation or at maturity. Prolonged default allows the bank to treat the deposit as discontinued and settle it on the instalments received. Premature closure after the minimum period is paid at the rate applicable to the period actually served, less the penalty on that rate.

How to Check IOB RD Interest Rates

RD rates change with RBI policy and each bank's own treasury decisions, so no figure is quoted on this page. Take the rate applicable to your tenure from the IOB mobile banking app, IOB net banking, or a branch, then enter it above alongside your monthly instalment to see the exact maturity value.

What Is Specific to an IOB RD

• •The overseas footprint dating to the bank's founding in 1937 makes IOB a practical option where instalments are funded from abroad into a resident family account.
• •Branch density is concentrated in Tamil Nadu and the southern states, which matters if you intend to pay or manage the deposit at a counter.
• •Named schemes such as Vardhan are issued and withdrawn periodically, so check what is actually open rather than relying on an older listing.
• •A loan against the accumulated recurring balance is available after a qualifying period, which avoids breaking the deposit for a short cash need.

Take the rate Indian Overseas Bank quotes for your tenure and enter it above to see the exact maturity value and the year-by-year interest accrual.

To compare this against another lender, or against a lump-sum deposit, use the master RD calculator or the fixed deposit calculator.