Bank FD Comparison Tool
Indian Overseas Bank vs ESAF Small Finance Bank Fixed Deposit Comparison 2026
Compare Fixed Deposit interest rates, maturity amounts, and features between Indian Overseas Bank (Public Sector) and ESAF Small Finance Bank (Private Sector). Analyze the security of public sector banking versus the convenience of private sector services.
IOB
Public Sector
VS
ESAF SFB
Private Sector
IOB: Min ₹1,000
ESAF SFB: Min ₹1,000
Security vs Convenience
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: % |ESAF SFB: %
Side-by-Side Rate Comparison
Direct comparison of general rates
IOB
ESAF SFB
Highlighted = Your selected tenure
Feature Comparison
Features | IOB Public Sector | ESAF SFB Private 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
ESAF Small Finance Bank
Private Sector Bank
Key Advantages:
Small Finance Bank with competitive rates
High FD rates up to 7.75% for senior citizens
Focus on financial inclusion
Digital banking services
Online FD booking available
Senior citizen benefits with +0.50% additional interest
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) + ESAF SFB (₹5L)
For ₹15 lakhs: Add a third bank to the mix
Best of Both: Combine IOB (security) with ESAF SFB (convenience)
💡 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 ESAF SFB If:
- •Minimum amount: ₹1,000
- •Private Sector banking preference
- •Small Finance Bank with competitive rates
- •High FD rates up to 7.75% for senior citizens
- •Focus on financial inclusion
Best Strategy:
- •Split large amounts across both banks
- •Keep ≤₹5L per bank for insurance
- •Use IOB for stability
- •Use ESAF SFB for convenience
- •Review rates periodically
Explore more FD comparisons
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