Bank FD Comparison Tool
Indian Overseas Bank vs Central Bank of India Fixed Deposit Comparison 2026
Compare Fixed Deposit interest rates, maturity amounts, and features between Indian Overseas Bank (Public Sector) and Central Bank of India (Public Sector).
IOB
Public Sector
VS
Central Bank
Public Sector
IOB: Min ₹1,000
Central Bank: Min ₹1,000
DICGC Insured up to ₹5 Lakhs
Compare Your FD Returns
Adjust the parameters below to see how returns compare between the two banks
₹
Five Lakhs rupees
₹1,000₹20,00,000
years
1 year10 years
Interest Rate Comparison
Interest Rates by Tenure
General rates across different tenures
Current selection: 3 years (1095 days) -IOB: % |Central Bank: %
Side-by-Side Rate Comparison
Direct comparison of general rates
IOB
Central Bank
Highlighted = Your selected tenure
Feature Comparison
Features | IOB Public Sector | Central Bank Public Sector |
|---|---|---|
Minimum FD Amount | ₹1,000 | ₹1,000 |
Current Interest Rate(Selected Tenure) | % | % |
Premature Withdrawal Penalty | 1% | 1% |
Official Rate Source | View Official Rates | View Official Rates |
Indian Overseas Bank
Public Sector Bank
Key Advantages:
Government-owned bank with strong security
Wide branch network across India
Competitive interest rates
Online FD booking facility
Senior citizen benefits
International banking services
Central Bank of India
Public Sector Bank
Key Advantages:
Government-owned public sector bank
Established in 1911, nationalized in 1969
Wide branch network across India
Special Cent Green Deposit scheme for sustainable investments
Cent Super Callable and Non-Callable schemes (444 & 555 days)
Cent Floating Deposit scheme available
Senior citizens get +0.50% additional interest
Online FD booking facility
Important: Fixed Deposit Safety & Insurance Coverage
₹5 Lakh Insurance Limit
The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This means if you deposit more than ₹5 lakhs in a single bank, only ₹5 lakhs is guaranteed by the government.
⚠️ Recommendation:
Never deposit more than ₹5 lakhs in a single bank. If you have larger amounts, distribute them across multiple banks to ensure full insurance coverage.
Smart Distribution Strategy
For ₹10 lakhs: Split between IOB (₹5L) + Central Bank (₹5L)
For ₹15 lakhs: Add a third bank to the mix
💡 Pro Tip:
You can also open FDs in different family members' names in the same bank to get additional ₹5 lakh coverage for each account holder.
Key Insights & Recommendations
Choose IOB If:
- •Minimum amount: ₹1,000
- •Public Sector banking preference
- •Government-owned bank with strong security
- •Wide branch network across India
- •Competitive interest rates
Choose Central Bank If:
- •Minimum amount: ₹1,000
- •Public Sector banking preference
- •Government-owned public sector bank
- •Established in 1911, nationalized in 1969
- •Wide branch network across India
Best Strategy:
- •Split large amounts across both banks
- •Keep ≤₹5L per bank for insurance
- •Compare rates before investing
- •Consider branch convenience
- •Review rates periodically
Explore more FD comparisons
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