IOB Recurring Deposit – Get information about IOB Recurring Deposit Interest Rates, IOB RD, IOB RD Rates, IOB Recurring Deposits, Benefits, Features.
Indian overseas bank is one of the leading public sector bank headquartered in Chennai. The bank has got the best financial solutions based on individual level with a wide channel of 3700 domestic branches.
Besides many services the bank also provide with the recurring deposit account to the customers.
Below are the features & other information related to RD account.
FEATURES & BENEFITS
- The minimum deposit Rs. 50 per month in multiples of Rs. 5.
- Tenure period is 6 months (minimum) upto a maximum of 120 months i.e 10 years.
- Loan against deposit upto 90% on the principal and also on the interest accrued.
- Interest is compounded every year.
- Deposits can be closed pre maturely.
- Interest rates are same as fixed deposits.
Indian Overseas Bank Recurring Deposit Rates
|Tenure||General Rates (% p.a)|
|270 days -< 1 year||6.25|
|12 months to 15 months||6.75|
|> 15 months to < 2 years||6.50|
|2 years to 3 years||6.25|
|> 3 years -<5 years||6.00|
|5 years & above||6.00|
*For Senior Citizens additional Rate of 0.50% continues.
- Salaried Individual
- Small traders
- Rural saver