Rates verified from official source

Indian Overseas Bank Savings Account interest rates · October 2026

IOB's best Savings Account rate is 2.20% (Above ₹1 lakh to ₹2000 crore), 2.80 points below the best on the market (5.00%).

  • Seniors: up to 7.00% (Above ₹2000 crore).
Deposit amount

Showing 1 of 3 rates.

TenureGeneralSeniorApplies toEffective OnSource
Any tenure
Above ₹1 lakh to ₹2000 crore
 2.20% 2.20% Above ₹1 lakh to ₹2000 crore
8 Oct 2026
official
fetched 18 Oct 2026
✓ verified 19 Oct 2026
  • Bank: Not linked to Repo Rate
  • Bank: Linked to Repo Rate; i.e. Repo Rate 5.50% minus 3.30%=2.20%
  • Bank: Linked to Repo Rate; i.e Repo Rate 5.50% plus 1.50%=7.00%

Higher Savings Account rates than IOB

19 nationwide banks pay more. Top picks:

Private Highest Bandhan 4.85% +2.65% vs IOB Payments Bank Fino 4.50% +2.30% vs IOB Small Finance Jana 4.50% +2.30% vs IOB

See every higher rate →

IOB Savings rate changes

Changes to IOB's savings account rates that RateScan.in has recorded since it started tracking them on 18 Sept 2026. Each date is when RateScan.in first recorded the new rate; the bank's own effective date is in the rate table above.

No change to IOB's savings account rates has been recorded since tracking started on 18 Sept 2026.

IOB Savings: frequently asked questions

What is the highest IOB Savings interest rate?

As of 19 Oct 2026, Indian Overseas Bank offers up to 7.00% p.a. on its savings account (Above ₹2000 crore) for general customers. Rates below are as published by the bank — confirm with IOB before investing.

See today's top interest rates →

When did IOB last change its Savings rates?

RateScan.in has recorded no change to Indian Overseas Bank's savings account rates since it started tracking them on 18 Sept 2026.

Rate movements →

Does IOB pay different savings account rates by deposit size?

Yes. Indian Overseas Bank's table lists separate bands: Up to ₹1 lakh; Above ₹1 lakh to ₹2000 crore; Above ₹2000 crore. Each row shows the band it applies to.

Is my savings account with IOB insured?

Deposits with Indian Overseas Bank are insured by DICGC up to ₹5,00,000 per depositor per bank (principal + interest combined).

How current are these IOB rates?

RateScan.in refreshed this dataset on 19 Oct 2026; the bank's rates shown here are effective 8 Oct 2026. Rates can change without notice, so verify on the official IOB website before investing.

Rate movements →

More IOB rates

IOB overviewIOB Fixed Deposit ratesIOB Recurring Deposit ratesIOB NRE FD ratesIOB FCNR(B) rates

Savings rates at other banks

ESAF Savings ratesJana Savings ratesSurat Peoples Bank Savings ratesBandhan Savings ratesSouth Indian Savings ratesTNGB Savings ratesAPCOB Savings ratesJSKB Betul Savings ratesP&S Savings ratesFino Savings ratesBest Savings rates across all banks

Good to know

  • Deposits with Indian Overseas Bank are insured by DICGC up to ₹5,00,000 per depositor per bank (principal and interest combined, across all its branches). Anything above that is not insured.
  • IOB is a public sector bank, majority owned by the Government of India. Deposit insurance is still the DICGC cover above.
  • Senior citizens (60+) earn up to 0.50% p.a. more than general customers at IOB, depending on the tenure.
  • IOB's FD table includes 5 special schemes; check eligibility and end dates.
official Effective 15 May 2026 · Ingested 18 Sept 2026 · Verified 19 Oct 2026 · View source

Informational only — always confirm the current rate on the official IOB website before investing. Bank names and associated colors are used for identification purposes only. All bank names, logos, and trademarks are the property of their respective owners. RateScan.in is not affiliated with, endorsed by, or sponsored by any bank.