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Personal Banking

Last Updated on: 13/03/2024


Climate change has been recognised as one of the most critical challenges faced by the global society and economy in the 21st century. The financial sector plays a pivotal role in mobilizing resources and their allocation thereof in green activities/projects. Our Bank is committed towards creating a sustainable world by encouraging the low emission & eco-friendly activities and financing such projects. As part of the regulatory Framework, our Bank has introduced IOB Green Deposit Scheme and all deposits accepted under the Scheme shall be utilized for financing green activities and projects and developing green finance ecosystem in the country.

Features of IOB Green Deposit Scheme:

Scheme Description


Scheme Code



Resident Individuals and Non-Individual

Amount of Deposit

For Retail Term Deposits (less than Rs. 2 Crore) under Green Deposit Scheme shall be opened with minimum amount of Rs. 1000/-

For Bulk Deposits: Deposits of Rs. 2 Crore and above

Eligible Scheme

Term Deposit (RDP) / Special Term Deposit.
(Not available for SFD (M/Q) / Tax Saving / RD Scheme etc.)

Period of Deposit

999 Days

Rate of interest for Retail Term Deposit (% p.a.)
(the rate of interest will be change from time to time as per ALCO direction)

6.80% w.e.f 13.03.2024

For Senior Citizens (aged 60 years and above) additional interest rate of 0.50% and

For Super Senior Citizens (Aged 80 years and above): additional interest rate of 0.75%

Rate of Interest for Deposits of Rs. 2 Crore and Above

(Bulk Deposits)

Branch has to take prior permission from Treasury Department (Domestic), Central Office

Pre-mature Withdrawal

As per guidelines applicable for premature withdrawal of normal Term Deposit

Loan Facility

Overdraft / Demand Loan facility is available against Green Deposit

However, the status of such deposits will cease to be Green Deposits and will convert to a regular term deposit

Scheme Availability

Branch Channel, Net Banking and Mobile Banking


Available for Eligible Category of Customers

KYC Guidelines

As per extant guidelines on KYC


TDS is applicable as per Income Tax Rules. Customer may submit Form 15G / 15H as per rules for non-deduction of TDS

Transfer of Account

Amount can be transferred to other branches of our Bank across India

Scheme Conversion

Conversion from existing Term Deposit to Green Term Deposit and vice - versa not allowed.