Non-Callable Fixed Deposits are specialised accounts designed for savers and depositors who commit to keeping their funds with the bank until maturity without making early withdrawals, in exchange for premium returns | Photo Credit: RAGHUNATHAN SR

Indian Overseas Bank (IOB), a public sector bank, has announced an upward revision in interest rates for its domestic non-callable fixed deposits.

The decision was finalised during the bank‘s recent Asset-Liability Committee (ALCO) meeting to align with changing market conditions.

Following the ALCO directive, the bank has implemented a 10 basis points (0.10%) interest rate hike across three specific time frames. Regular fixed deposits (that allow early withdrawal), NRO accounts, and NRE term deposits remain entirely unchanged.

The new rates offer better yields across select medium-term tenures, including the popular 444-day period, and will come into effect immediately from June 11, 2026.

Non-callable fixed deposits are specialised accounts designed for savers and depositors who commit to keeping their funds with the bank until maturity without making early withdrawals, in exchange for premium returns.

For instance, the updated interest rates for the general public for 1 year non-callable deposit is now up to 6.70 per cent from 6.60 per cent earlier. For more than 1 year and less than 2 years it is 6.60 per cent compared to 6.50 per cent earlier.

Eligible Senior Citizens (aged 60 and above) will continue to receive their standard additional interest rate of 0.50 per cent, and Super Senior Citizens (aged 80 and above) will receive an additional 0.75 per cent over the revised baseline rates listed above.

Published on June 11, 2026