Indian Overseas Bank Recurring Deposit Calculator
Calculate your RD returns with latest IOB rates
Highest RD Rate
7.1% p.a.
Best available rate by IOB across tenures
The IOB Recurring Deposit (RD) offers competitive recurring-deposit interest rates, with a minimum monthly deposit of just ₹100. Interest is compounded quarterly, and your maturity amount depends on the monthly installment and tenure you choose — use the calculator below to see your exact returns. TDS applicable if interest exceeds ₹40,000 per annum
Minimum amount varies by bank (typically ₹100 - ₹500)
Used to calculate actual tax on RD interest. Select 0% if income below ₹3L
Maturity Amount
Total Investment
₹60,000
Interest Earned
+₹1,150
Current Interest Rate
IOB General Rate
3.50%
per annum
IOB Recurring Deposit Calculator Results
Year-wise breakdown of your monthly investments and returns
IOB Recurring Deposit Interest Rates
Latest interest rates for different tenures
| Tenure | General Rate | General Maturity | Senior Citizen Rate | Senior Maturity |
|---|---|---|---|---|
| 7-14 Days | 3.5% | ₹5,015 | 4% | ₹5,017 |
| 15-29 Days | 3.5% | ₹5,015 | 4% | ₹5,017 |
| 30-45 Days | 3.5% | ₹5,015 | 4% | ₹5,017 |
| 46-60 Days | 4% | ₹10,050 | 4.5% | ₹10,056 |
| 61-90 Days | 3% | ₹15,075 | 3.5% | ₹15,088 |
| 91-120 Days | 3.5% | ₹20,146 | 4% | ₹20,167 |
| 121-179 Days | 2.9% | ₹30,255 | 3.4% | ₹30,299 |
| 180-269 Days | 4.5% | ₹45,852 | 5% | ₹45,948 |
| 270 Days to < 1 Year | 5.5% | ₹61,818 | 6% | ₹61,986 |
| 1 Year | 6.5% | ₹62,155 | 7% | ₹62,324 |
| > 1 Year to < 2 years (Except 444 Days) | 6.4% | ₹1,28,337 | 6.9% | ₹1,29,018 |
| 444 Days | 6.6% | ₹78,386 | 7.1% | ₹78,650 |
| 2 Years to < 3 Years | 6.4% | ₹1,98,917 | 6.9% | ₹2,00,497 |
| 3 Years and above | 6.1% | ₹8,28,047 | 6.6% | ₹8,51,290 |
Important Notes
- Min monthly: ₹100
- Penalty: 1% on premature closure
- TDS applicable if annual interest exceeds ₹40,000
- 15 days grace period for missed installments
Key Benefits
- Disciplined monthly savings habit
- Higher rates than savings accounts
- Auto-debit facility available
- DICGC insurance up to ₹5,00,000
Tax & TDS on IOB Recurring Deposits
Understanding tax implications and deductions on your RD investments
Section 80C
Tax-saving RDs (5-year lock-in) qualify for deduction up to ₹1.5 lakh under Section 80C
Senior Citizens
Higher TDS exemption limit of ₹50,000 for citizens above 60 years
• Regular RDs don't qualify for Section 80C deduction
• Interest income is fully taxable as per income tax slab
• Form 15G/15H can be submitted to avoid TDS
• NSC and other alternatives also qualify for 80C
TDS Rate
10%
Exemption Limit
₹40,000
TDS Calculation
TDS is deducted at 10% if total interest from all RDs with IOB exceeds ₹40,000 in a financial year
TDS is calculated on maturity amount
No TDS on monthly installments
Form 26AS shows TDS deducted at maturity
Can be claimed as advance tax while filing ITR
₹5,000/month RD
At 6.6% for 3 years
₹21,384
Total Interest
TDS: ₹0
₹10,000/month RD
At 6.6% for 3 years
₹42,768
Total Interest
TDS: ₹276.8
₹25,000/month RD
At 6.6% for 3 years
₹1,06,920
Total Interest
TDS: ₹6,692
IOB Recurring Deposit FAQs
Everything you need to know about IOB Recurring Deposits, RD interest rates, and systematic savings planning
What is the minimum amount required for IOB RD?
What is the current highest RD rate offered by IOB?
Is the interest earned on IOB RD taxable?
Can I miss a monthly installment in IOB RD?
How is interest calculated on IOB RD?
What happens if I close my IOB RD before maturity?
Compare RD Rates Across Banks
Calculate Recurring Deposit returns with different banks and find the best rates
