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Personal Banking

Last Updated on: 20/03/2023

IOB Suvidha

Nature of Product:

Term Deposit with Cash Credit Facility and personalized cheque book. A CC account will be opened automatically along with Term Deposit. Once the term deposit is closed the proceeds are to be credited to CC account only and Limit and DP are to be made NIL and the CC account is to be invariably closed on the same day.


Individuals (including NRIs /NRO) /Firms /Corporates/ PSUs/Institutions/HUF/Trust/Society. Minor's special deposits are not allowed under the scheme.

Nature of Deposit:

Initially the scheme is restricted to RDP accounts only. Interest is subject to TDS for resident deposits and NRO deposits as per the extant guidelines.

Deposit Amount:

Minimum Rs. 1.00 lakh & No maximum

Period of Deposit:

Minimum 15 months - Maximum of 10 years

Cash Credit Limit:

90% of the Principal Amount. Minimum Rs. 0.90 lakh with a maximum of Rs. 2500 lakh.

Availability of Top up Facility:

Top up is allowed in multiples of Rs.1 lakh each and accordingly the CC limit is to be fixed at 90% of the Principal amount of deposits available as security. In case of multiple deposits, if a deposit is closed, accordingly limit would be reduced and refixed.

Margin for Loan Against Deposit:

10% (Minimum)

Purpose of Loan:

Any purpose other than for speculation and Real Estate Business OR prohibited by RBI/Government

Other Benefits:

A Debit Card and a Credit Card subject to the conditions governing the Credit Card may be issued free of cost. Respective application forms are to be obtained separately.