What does Indian Overseas Bank do?
Personal banking IOB provides a wide range of products and services such as saving bank accounts, current accounts, term deposit, retail loans, home loans and mortgages, depository services, gold investment products, debit and credit cards, multi city cheque facilities, insurance and mutual funds, and real time gross
Table Showing the Merger List of PSU Banks
Is Indian Overseas Bank a zero balance account?
Account can be opened with zero balance. However, in order to be eligible for certain concessions provided with this account, account holders must maintain a Quarterly Average Balance of not less than Rs 5,000. No minimum balance requirement. No minimum balance requirement.
IOB was one of the 14 major banks that were nationalized in 1969. On the eve of Nationalization in 1969, IOB had 195 branches in India with aggregate deposits of Rs. 67.70 Cr.
Is IOB a good bank?
The overall rating of Indian Overseas Bank is 3.7, with Job Security being rated at the top and given a rating of 4.3. However, Company culture is rated the lowest at 3.1.
The overall rating of IBO is 3.8, with Work-Life balance being rated at the top and given a rating of 4.2. However, Salary & Benefits is rated the lowest at 3.4. To know first hand how is it like to work at IBO read detailed reviews by job profile, department and location in the reviews section.
Is IFSC code changed for Indian Overseas Bank?
RBI does not change IFSC codes for banks and branches.
The merger resulted in 10 Public Sector Banks pooled into 4 Public Sector Banks. However, IOB, Bank of Maharashtra, Punjab and Sind Bank, Bank of India, Central Bank of India and UCO Bank, which are region-centric, will remain as independent entities.02-Nov-2022
Which 3 banks are merged?
*State Bank of India was merged with its associate banks and Bharatiya Mahila Bank in 2017.List of Merged Banks.
It is Rs.500 for non-cheque operated account and Rs.1000 for cheque operated account in other branches.12-Feb-2021
Is SBI better than IOB?
Some of the key results of the comparison between the two banks are: Lowest Interest rate of Indian Overseas Bank Home Loan is 7.05%, which is lower than the lowest interest rate of SBI at 8.45% and hence, Indian Overseas Bank is offering a cheaper loan option.
Special Feature. Kotak Mahindra Bank has introduced three kinds of zero balance accounts out of which Kotak 811 Full KYC account is the most useful as it provides a cheque book and a debit card (if required by paying INR 199) and a free digital debit card. Facility of NEFT, IMPS, RTGS available without any charge.15-Nov-2022
Which is the No 1 bank in India?
1. HDFC Bank
Prompt Corrective Action Framework - Indian Overseas Bank The performance of the Indian Overseas Bank, currently under the Prompt Corrective Action Framework (PCAF) of RBI, was reviewed by the Board for Financial Supervision.29-Sept-2021
Is IOB profitable bank?
Total business of Indian Overseas Bank as of September 2022 stood at ₹4,34,441 crore. Indian Overseas Bank has posted a 33 per cent growth in Q2 net profit at ₹501.34 crore.06-Nov-2022
Within the Banks sector, IOB stock has a market cap rank of 8. IOB has a market cap of Rs 66,914.54 Cr. 6.
What is the future of IOB?
Indian Overseas Bank quote is equal to 33.450 INR at 2022-12-19. Based on our forecasts, a long-term increase is expected, the "IOB" stock price prognosis for 2027-12-10 is 50.080 INR. With a 5-year investment, the revenue is expected to be around +49.71%. Your current $100 investment may be up to $149.71 in 2027.
Interest rate for IOB Tax Saver Deposit shall be at 6.50%. For Senior Citizens Additional Rate of 0.50% and for Super Senior Citizens (aged 80 years and above) Additional Rate of 0.75% continues.
Should I buy IOB share?
Indian Overseas Bank (NSE: IOB) As on 13th Dec 2022 IOB SHARE Price closed @ 30.85 and we RECOMMEND Strong Buy for LONG-TERM with Stoploss of 18.71 & Strong Buy for SHORT-TERM with Stoploss of 20.24 we also expect STOCK to react on Following IMPORTANT LEVELS.
IOB Rupay Classic Debit Card.10-Dec-2022
Does IOB give dividend?
Indian Overseas Bank has declared 17 dividends since July 11, 2001. See all forthcoming dividends Check out stocks with top dividend.
What does Indian Overseas Bank do?