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Personal Banking

Last Updated on: 20/03/2023

IOB Eighty Plus TD

IOB EIGHTY PLUS - Term Deposit

The product is designed for the Super Senior Citizens ie Senior Citizens with age 80 years and above.

Name of the Product IOB Eighty Plus - TD

Nature of the Product

Term Deposits

Eligible Customers

All Super Senior Citizens with age 80 years and above as on date of opening of account. Any valid KYC documents containing age/DOB as per existing KYC policy of RBI can be accepted as proof of age. Birth Certificate or any other valid proof containing age/ date of birth can also be accepted as proof of age.

Rate of Interest

Additional interest of 0.25% p.a over and above the applicable interest rate for Senior Citizens. Total 0.75% more.

Deposit Amount

Minimum - As per the respective schemes (RDP/SFD-(M/Q)/RD)

Maximum - Below Rs. 1 Crore

Period of Deposit

6 Months to 120 Months

Mode of Operation

Self / E or S with spouse only / F or S with spouse only (Super senior citizen as primary account holder)


Permitted as per Rules

Loan Facility

Up to 90% for Self or jointly with spouse only

Applicable interest will be 1% over and above the deposit rate for demand loans and 1.50% for Cash Credit accounts. No Third party loans permitted.