Public Sector
Private Sector
Indian Overseas Bank vs Suryoday Small Finance Bank Fixed Deposit Comparison 2025
Compare interest rates, features, and returns between Indian Overseas Bank (Public Sector) and Suryoday Small Finance Bank (Private Sector). Compare the security of public sector banking with the convenience of private sector services.
Five Lakhs rupees
Interest Rate Comparison
General rates across different tenures
Current selection: 3 years (1095 days) -IOB: % |Suryoday SFB: %
Direct comparison of general rates
Feature Comparison
| Features |  IOB Public Sector |  Suryoday 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 |
Key Advantages:
Key Advantages:
₹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) + Suryoday SFB (₹5L)
For ₹15 lakhs: Add a third bank to the mix
Best of Both: Combine IOB (security) with Suryoday 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
- • Minimum amount: ₹1,000
- • Public Sector banking preference
- • Government-owned bank with strong security
- • Wide branch network across India
- • Competitive interest rates
- • Minimum amount: ₹1,000
- • Private Sector banking preference
- • Small Finance Bank with competitive rates
- • High FD rates up to 8.10% for senior citizens (5 years)
- • Premium rates on 5-year FDs
- • Split large amounts across both banks
- • Keep ≤₹5L per bank for insurance
- • Use IOB for stability
- • Use Suryoday SFB for convenience
- • Review rates periodically
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