Indian Overseas Bank RD Calculator
See how much a recurring deposit with Indian Overseas Bank grows. Set your monthly deposit, interest rate and tenure.
RD tenures typically run from 6 months to 10 years.
Maturity value
₹3,54,954
Effective annual yield
6.66%
“RD: Small drops. Big bucket. Zero stress.”
Top RD interest rates right now (compare against Indian Overseas Bank)
See all bank rates →#1Suryoday Small Finance Bank
Bank's interest-rate page ↗Duration
30 months
Regular
8.10%
Yield* 8.88%
Sr. Citizen
8.25%
Yield* 9.06%
#2Jana Small Finance Bank
Bank's interest-rate page ↗Duration
36 months
Regular
8.00%
Yield* 8.94%
Sr. Citizen
8.30%
Yield* 9.32%
#3Equitas Small Finance Bank
Bank's interest-rate page ↗Duration
12 months
Regular
7.10%
Yield* 7.29%
Sr. Citizen
7.60%
Yield* 7.82%
Rates updated as of 14 Jul 2026 · p.a. · *Annualized yield assumes quarterly compounding over the shown tenure (1 year if unspecified). Confirm with the bank before investing.
RD tips
- Compare Indian Overseas Bank's RD rate against the top-rate table above before committing.
- Use an RD to build a habit of saving a fixed amount every month.
- If you already have a lump sum, an FD usually earns more than an RD for the same rate — see the Indian Overseas Bank FD Calculator.
How it's calculated
A recurring deposit adds a fixed amount every month, and interest compounds quarterly — the convention Indian banks, including Indian Overseas Bank, actually use for RDs. Each month's deposit is folded into the next quarterly compounding cycle using the standard "banker's RD formula":
M = R × [ (1 + i)n − 1 ] / ( 1 − (1 + i)−1/3 )
where R is the monthly deposit, i is the quarterly interest rate (annual rate ÷ 4 ÷ 100) and n is the tenure in quarters (months ÷ 3). Set the rate slider to Indian Overseas Bank's currently advertised RD rate for an accurate estimate — see the methodology page.
Example
Depositing ₹1,000 every month for 12 months at 8% (quarterly compounding) matures to roughly ₹12,529 — about ₹529 in interest on ₹12,000 saved. Swap in Indian Overseas Bank's currently advertised rate above for an exact figure.
About Indian Overseas Bank
Indian Overseas Bank is a public sector bank, founded in 1937, with a nationwide network with a notable overseas branch presence. Like every scheduled bank operating in India, deposits with Indian Overseas Bank are covered by DICGC insurance up to the current per-depositor limit.
How it works
This calculator uses the same maturity-value formula as our general RD Calculator — Indian Overseas Bank doesn't use a different compounding convention from any other Indian bank. Enter Indian Overseas Bank's currently advertised rate (check their official rates page) and your monthly deposit and tenure to see the projected maturity value.
How to use it
- Set your monthly deposit amount and the tenure you're considering.
- Set Indian Overseas Bank's current RD rate for that tenure — quarterly compounding is standard for Indian bank RDs.
- Compare the result against the rate table below to see how Indian Overseas Bank stacks up against other banks.
Important caveats
- We don't hardcode Indian Overseas Bank's specific rate into this calculator — rates change, so always check Indian Overseas Bank's official rates page before relying on a figure.
- RD interest is fully taxable at your income slab rate — the maturity value shown is pre-tax.
- Missing a monthly instalment on a real RD usually attracts a small penalty — this calculator assumes every instalment is paid on time.
Benefits of an RD with Indian Overseas Bank
- DICGC-insured principal and interest, like any other scheduled Indian bank.
- Builds a fixed monthly savings habit, unlike a one-time FD deposit.
- Indian Overseas Bank's A nationwide network with a notable overseas branch presence, useful if you prefer in-branch service.
RD rates — top banks (including Indian Overseas Bank)
Rates updated as of 14 Jul 2026
| Bank | Rate (p.a.) | Tenure | Notes |
|---|---|---|---|
| Suryoday Small Finance Bank | 8.10% | 30 months | Top Highest Interest rate from March 29, 2026 |
| Jana Small Finance Bank | 8.00% | 36 months | Effective from 23rd June 2026 |
| Equitas Small Finance Bank | 7.10% | 12 months | Effective from 10th June 2026 |
Frequently asked questions
Is my RD with Indian Overseas Bank insured?
Yes. Indian Overseas Bank, like every DICGC-insured bank operating in India, has deposits covered up to the current DICGC limit per depositor per bank — the same protection that applies to any other bank on our platform, regardless of whether it's a PSU, private, or small finance bank.
Does Indian Overseas Bank offer a senior citizen RD rate premium?
Most Indian banks, including Indian Overseas Bank, offer a modest additional interest rate for senior citizens on recurring deposits. We don't display bank-specific senior rates on this page — check Indian Overseas Bank's current published rates directly, or use the rate slider above to model a higher rate if you know your senior citizen premium.
How do I open an RD with Indian Overseas Bank?
Indian Overseas Bank, founded in 1937, offers recurring deposit accounts through its branch network, net banking, and mobile app, like most Indian banks. Use this calculator to work out the numbers first, then open the account directly with Indian Overseas Bank — we don't process deposits or applications ourselves.
Learn more from official sources
- Reserve Bank of India (RBI) — regulator for Indian banks, including Indian Overseas Bank.
- DICGC — deposit insurance covering Indian Overseas Bank and every other DICGC-member bank.
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