Indian Overseas Bank (IOB)

Overview

Indian Overseas Bank, founded in 1937 and headquartered in Chennai, India, extends a comprehensive range of banking products and services both domestically and internationally. The bank caters to diverse customer needs through its branches, which span across India and extend overseas in Singapore, Hong Kong, Colombo, and Bangkok. Its operations are segmented into Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations, highlighting its diversified approach in the financial market. The institution's commitment to offering a wide array of financial solutions underlines its role in the banking sector, addressing the needs of individual, agricultural, and corporate clients.

Products and Services

Indian Overseas Bank ensures a broad spectrum of banking and financial services tailored to meet the varied requirements of its clientele, including:

• Deposits: The bank offers multiple deposit options such as demand, savings, current, fixed, and term deposits, alongside foreign currency (nonresident) accounts, catering to the saving and investment needs of individuals and businesses.
• Loan Products: A comprehensive range of loan services is available, including home, vehicle, education, and personal loans, as well as loans against property and jewel loans. Specialized products like reverse mortgage loans, agricultural and corporate loans, and financing for micro, small, and medium enterprises (MSMEs) are also provided to support various financial requirements.
• Cards: Indian Overseas Bank issues debit and credit cards along with prepaid cards, offering convenience and access to funds for day-to-day transactions and purchases.
• NRI Accounts: Tailored banking solutions like NRI accounts cater to the banking needs of the Indian diaspora, facilitating banking transactions and services beyond Indian shores.
• Agricultural and Rural Banking Products: Focused services for the agricultural sector and rural communities are provided, including loans and deposit products designed to support agricultural activities and rural development.
• Merchant Banking, Payment, and Internet Banking Services: The bank offers modern banking conveniences such as secure online banking, merchant services, and streamlined payment solutions to enhance banking accessibility and efficiency for its customers.
• Insurance Products: A variety of insurance products are made available, such as health, property, home, motor, and general insurance, safeguarding customers’ valuable assets and their health against unforeseen events.