Indian Overseas Bank vs Shriram Finance Recurring Deposit Comparison 2026
Compare Recurring Deposit interest rates, maturity amounts, and features between Indian Overseas Bank (Public Sector) and Shriram Finance (Private Sector). Analyze the security of public sector banking versus the convenience of private sector services.
IOB
Shriram Finance
Adjust the parameters below to see how returns compare between the two banks
Five Thousand rupees
Interest Rate Comparison
General rates across different tenures
Current selection: 3 years (1095 days) -IOB: % |Shriram Finance: %
Direct comparison of general rates
Feature Comparison
Features | IOB Public Sector | Shriram Finance Private Sector |
|---|---|---|
Minimum RD Amount | ₹100 | ₹100 |
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 includes both principal and accrued interest for RDs.
⚠️ Recommendation:
Keep your total deposits (RDs + FDs + Savings) under ₹5 lakhs per bank. If you need larger investments, distribute them across multiple banks.
Smart Distribution Strategy
Multiple RDs: Open RDs in both IOB and Shriram Finance
Family Accounts: Use different family members' accounts for additional coverage
Best of Both: Combine IOB (security) with Shriram Finance (convenience)
💡 Pro Tip:
RDs are perfect for goal-based investing. You can open separate RDs for different financial goals across different banks to maximize returns and safety.
Key Insights & Recommendations
- • Minimum amount: ₹100
- • Public Sector banking preference
- • Government-owned bank with strong security
- • Wide branch network across India
- • Competitive interest rates
- • Minimum amount: ₹100
- • Private Sector banking preference
- • NBFC with competitive FD rates
- • Senior citizens get +0.50% additional interest
- • Women depositors get +0.05% additional interest
- • Open multiple RDs for different goals
- • Keep ≤₹5L per bank for insurance
- • Use IOB for stability
- • Use Shriram Finance for convenience
- • Review rates periodically
Explore more RD comparisons
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