Verified Bank Tariff

Indian Overseas Bank Charges & Fees

Charges verified
14
14 checked rules · 10 fee categories · 2 account variants

Complete official Schedule of Charges for Indian Overseas Bank. Every fee entry is backed by verified citations, 18% GST treatment, waiver conditions, and RBI dispute rights.

Figures are the bank’s own, before GST unless a rule says otherwise.Last verified
Indian Overseas Bank
Cheapest: NEFT freeCostliest: Demand draft up to ₹15,000

At a glance

Indian Overseas Bank’s own figures, before GST. Tap a figure for its source.

Verified Fee Categories for Indian Overseas Bank

Most-searched Indian Overseas Bank chargesVerified figures, each named with its account

Most-searched Indian Overseas Bank charges

Verified figures only, each named with the account it applies to.

ChargeVerified figureMore
SMS alert
  • Domestic SMS: ₹0.25 · International SMS: ₹1.50 · + 18% GST · Retail Banking Service Charges
Demand draft (DD)
  • ₹10,001.00 to ₹1,00,000.00: ₹5.00 per ₹1,000.00 (minimum ₹80.00) · + 18% GST · Retail Banking Service Charges
  • Above ₹1,00,000.00: ₹5.00 per ₹1,000.00 (minimum ₹500.00, maximum ₹15,000.00) · + 18% GST · Retail Banking Service Charges
  • + 1 more verified entry below
RTGS
  • Rs 2 lakh to Rs 5 lakh: ₹24.00 · Above Rs 5 lakh: ₹49.00 · + 18% GST · Retail Banking Service Charges
IMPS
  • Up to Rs 10,000: ₹2.50 · Above Rs 10,000 up to Rs 1 lakh: ₹5.00 · Above Rs 1 lakh up to Rs 2 lakh: ₹15.00 · Above Rs 2 lakh up to Rs 5 lakh: ₹15.00 · + 18% GST · Retail Banking Service Charges
NEFT
  • ₹0 (Free) · No GST added · IOB Salary Account — Diamond / Platinum
Minimum balance
  • ₹0 (Free) · No GST added · IOB Salary Account — Diamond / Platinum
Cheque return
  • Up to Rs 1 lakh: ₹250.00 · Above Rs 1 lakh: ₹500.00 · + 18% GST · Retail Banking Service Charges
  • Up to Rs 1 lakh: ₹250.00 · Above Rs 1 lakh: ₹500.00 · + 18% GST · Retail Banking Service Charges
Locker
  • Type A — Rural/Semi Urban: ₹1,500.00 · Type A — Urban/Metro: ₹2,000.00 · Type B — Rural/Semi Urban: ₹2,000.00 · Type B — Urban/Metro: ₹2,500.00 · Type C — Rural/Semi Urban: ₹3,000.00 · Type C — Urban/Metro: ₹3,500.00 · Type D — Rural/Semi Urban: ₹3,200.00 · Type D — Urban/Metro: ₹4,000.00 · Type E — Rural/Semi Urban: ₹4,000.00 · Type E — Urban/Metro: ₹4,500.00 · Type F — Rural/Semi Urban: ₹5,000.00 · Type F — Urban/Metro: ₹6,500.00 · Type G — Rural/Semi Urban: ₹5,500.00 · Type G — Urban/Metro: ₹8,000.00 · Type H — Rural/Semi Urban: ₹6,000.00 · Type H — Urban/Metro: ₹9,000.00 · Type H1 — Rural/Semi Urban: ₹4,000.00 · Type H1 — Urban/Metro: ₹5,000.00 · Type K — Rural/Semi Urban: ₹5,200.00 · Type K — Urban/Metro: ₹9,000.00 · Type L — Rural/Semi Urban: ₹8,000.00 · Type L — Urban/Metro: ₹10,000.00 · Type L1 — Rural/Semi Urban: ₹8,000.00 · Type L1 — Urban/Metro: ₹10,000.00 · Type L2 — Rural/Semi Urban: ₹5,000.00 · Type L2 — Urban/Metro: ₹9,200.00 · + 18% GST · Retail Banking Service Charges
  • Type A — Rural/Semi Urban: ₹1,000.00 · Type A — Urban/Metro: ₹1,200.00 · Type B — Rural/Semi Urban: ₹1,100.00 · Type B — Urban/Metro: ₹1,400.00 · Type C — Rural/Semi Urban: ₹1,200.00 · Type C — Urban/Metro: ₹1,700.00 · Type D — Rural/Semi Urban: ₹1,400.00 · Type D — Urban/Metro: ₹1,800.00 · Type E — Rural/Semi Urban: ₹1,600.00 · Type E — Urban/Metro: ₹2,200.00 · Type F — Rural/Semi Urban: ₹2,000.00 · Type F — Urban/Metro: ₹2,800.00 · Type G — Rural/Semi Urban: ₹2,100.00 · Type G — Urban/Metro: ₹2,800.00 · Type H — Rural/Semi Urban: ₹3,000.00 · Type H — Urban/Metro: ₹4,600.00 · Type H1 — Rural/Semi Urban: ₹1,600.00 · Type H1 — Urban/Metro: ₹2,000.00 · Type K — Rural/Semi Urban: ₹3,700.00 · Type K — Urban/Metro: ₹5,700.00 · Type L — Rural/Semi Urban: ₹3,600.00 · Type L — Urban/Metro: ₹5,600.00 · Type L1 — Rural/Semi Urban: ₹3,200.00 · Type L1 — Urban/Metro: ₹4,900.00 · Type L2 — Rural/Semi Urban: ₹3,500.00 · Type L2 — Urban/Metro: ₹5,500.00 · + 18% GST · Retail Banking Service Charges
Account closure charges1 checked entry
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Retail Banking Service Charges · Branch

Savings account with cheque book: ₹200.00 · Savings account without cheque book: ₹100.00 · Current account: ₹1,000.00

Trigger Condition

Indian Overseas Bank account closed after 14 days but within one year of opening; nil within 14 days or after one year. Exempt: BSBD accounts, IOB Freedom SB/CD, RERA collection/designated accounts, and closure on death of the account holder. IOB Startup Current Account has its own scale. GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

ATM charges1 checked entry
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Retail Banking Service Charges · ATM

₹23.00

Trigger Condition

Indian Overseas Bank customers at other banks' ATMs: 3 free transactions a month in the six metros (Chennai, Mumbai, Delhi, Hyderabad, Kolkata, Bangalore) and 5 elsewhere, financial and non-financial together; Rs 23 per transaction beyond that. Several IOB schemes get more free transactions. GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Cheque charges2 checked entries
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Retail Banking Service Charges · Branch

Up to Rs 1 lakh: ₹250.00 · Above Rs 1 lakh: ₹500.00

Trigger Condition

Indian Overseas Bank: cheque drawn on IOB and issued by the account holder, returned in local clearing. The schedule states return charges apply only where the customer is at fault. GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Retail Banking Service Charges · Branch

Up to Rs 1 lakh: ₹250.00 · Above Rs 1 lakh: ₹500.00

Trigger Condition

Indian Overseas Bank: cheque deposited by the account holder and returned by the drawee bank in local clearing. The schedule states return charges apply only where the customer is at fault. GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Demand Draft charges3 checked entries
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Retail Banking Service Charges · Branch

₹10,001.00 to ₹1,00,000.00: ₹5.00 per ₹1,000.00 (minimum ₹80.00)

Trigger Condition

Indian Overseas Bank demand drafts for regular (SB-PUB) customers. GST is additional. Many IOB account schemes get free or discounted drafts, non-customers paying cash pay 50% more - none of these is modelled. The source says 'per Rs1000' without 'or part thereof', so amounts that are not whole thousands may round differently at the branch.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Retail Banking Service Charges · Branch

Above ₹1,00,000.00: ₹5.00 per ₹1,000.00 (minimum ₹500.00, maximum ₹15,000.00)

Trigger Condition

Indian Overseas Bank demand drafts for regular (SB-PUB) customers. GST is additional. Many IOB account schemes get free or discounted drafts, non-customers paying cash pay 50% more - none of these is modelled. The source says 'per Rs1000' without 'or part thereof', so amounts that are not whole thousands may round differently at the branch.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Retail Banking Service Charges · Branch

Up to Rs5,000: ₹25.00 · Above Rs5,000 up to Rs10,000: ₹60.00

Trigger Condition

Indian Overseas Bank demand drafts for regular (SB-PUB) customers. GST is additional. Many IOB account schemes get free or discounted drafts, non-customers paying cash pay 50% more - none of these is modelled. This rule covers drafts up to Rs 10,000; larger drafts use the separate per-Rs1,000 rules.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

IMPS charges1 checked entry
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Retail Banking Service Charges · General

Up to Rs 10,000: ₹2.50 · Above Rs 10,000 up to Rs 1 lakh: ₹5.00 · Above Rs 1 lakh up to Rs 2 lakh: ₹15.00 · Above Rs 2 lakh up to Rs 5 lakh: ₹15.00

Trigger Condition

Indian Overseas Bank IMPS through mobile banking / net banking. UPI transfers carry no charge. Many IOB schemes get IMPS free (salary Gold/Diamond/Platinum, SB Max, HNI, pensioner, Freedom, Prime/Priority/Privilege and others). GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

Locker charges2 checked entries
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Retail Banking Service Charges · Branch

Type A — Rural/Semi Urban: ₹1,500.00 · Type A — Urban/Metro: ₹2,000.00 · Type B — Rural/Semi Urban: ₹2,000.00 · Type B — Urban/Metro: ₹2,500.00 · Type C — Rural/Semi Urban: ₹3,000.00 · Type C — Urban/Metro: ₹3,500.00 · Type D — Rural/Semi Urban: ₹3,200.00 · Type D — Urban/Metro: ₹4,000.00 · Type E — Rural/Semi Urban: ₹4,000.00 · Type E — Urban/Metro: ₹4,500.00 · Type F — Rural/Semi Urban: ₹5,000.00 · Type F — Urban/Metro: ₹6,500.00 · Type G — Rural/Semi Urban: ₹5,500.00 · Type G — Urban/Metro: ₹8,000.00 · Type H — Rural/Semi Urban: ₹6,000.00 · Type H — Urban/Metro: ₹9,000.00 · Type H1 — Rural/Semi Urban: ₹4,000.00 · Type H1 — Urban/Metro: ₹5,000.00 · Type K — Rural/Semi Urban: ₹5,200.00 · Type K — Urban/Metro: ₹9,000.00 · Type L — Rural/Semi Urban: ₹8,000.00 · Type L — Urban/Metro: ₹10,000.00 · Type L1 — Rural/Semi Urban: ₹8,000.00 · Type L1 — Urban/Metro: ₹10,000.00 · Type L2 — Rural/Semi Urban: ₹5,000.00 · Type L2 — Urban/Metro: ₹9,200.00

Trigger Condition

Public-customer annual locker rent, charged annually in advance. Source states the rent cycle is October–September and collected on 1 October. Separate product-specific locker-rent concessions exist and are not baked into this base matrix.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-08-09 · Effective: 2026-04-01

Retail Banking Service Charges · Branch

Type A — Rural/Semi Urban: ₹1,000.00 · Type A — Urban/Metro: ₹1,200.00 · Type B — Rural/Semi Urban: ₹1,100.00 · Type B — Urban/Metro: ₹1,400.00 · Type C — Rural/Semi Urban: ₹1,200.00 · Type C — Urban/Metro: ₹1,700.00 · Type D — Rural/Semi Urban: ₹1,400.00 · Type D — Urban/Metro: ₹1,800.00 · Type E — Rural/Semi Urban: ₹1,600.00 · Type E — Urban/Metro: ₹2,200.00 · Type F — Rural/Semi Urban: ₹2,000.00 · Type F — Urban/Metro: ₹2,800.00 · Type G — Rural/Semi Urban: ₹2,100.00 · Type G — Urban/Metro: ₹2,800.00 · Type H — Rural/Semi Urban: ₹3,000.00 · Type H — Urban/Metro: ₹4,600.00 · Type H1 — Rural/Semi Urban: ₹1,600.00 · Type H1 — Urban/Metro: ₹2,000.00 · Type K — Rural/Semi Urban: ₹3,700.00 · Type K — Urban/Metro: ₹5,700.00 · Type L — Rural/Semi Urban: ₹3,600.00 · Type L — Urban/Metro: ₹5,600.00 · Type L1 — Rural/Semi Urban: ₹3,200.00 · Type L1 — Urban/Metro: ₹4,900.00 · Type L2 — Rural/Semi Urban: ₹3,500.00 · Type L2 — Urban/Metro: ₹5,500.00

Trigger Condition

IOB Staff/Ex-Staff annual locker rent, charged annually in advance.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-08-09 · Effective: 2026-04-01

Minimum balance charges1 checked entry
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IOB Salary Account — Diamond / Platinum · General

₹0 (Free)

Trigger Condition

Indian Overseas Bank Salary Account — Diamond or Platinum sub-scheme only.

GST: Does not apply (Zero tax)
Official Source Schedule

Verified on 2026-08-15

NEFT charges1 checked entry
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IOB Salary Account — Diamond / Platinum · General

₹0 (Free)

Trigger Condition

Indian Overseas Bank Salary Account — Diamond or Platinum sub-scheme only; Gold is excluded because the official table says applicable charges.

GST: Does not apply (Zero tax)
Official Source Schedule

Verified on 2026-08-15

RTGS charges1 checked entry
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Retail Banking Service Charges · Branch

Rs 2 lakh to Rs 5 lakh: ₹24.00 · Above Rs 5 lakh: ₹49.00

Trigger Condition

Indian Overseas Bank outward RTGS at home branches/CBS; the schedule lists the same Rs 24 / Rs 49 for RTGS through internet banking. Many IOB schemes (salary Diamond/Platinum, SB Max, HNI, pensioner, Freedom, Prime/Priority/Privilege and others) get RTGS free. GST is additional; the schedule is stated excluding GST.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

SMS alert charges1 checked entry
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Retail Banking Service Charges · Other

Domestic SMS: ₹0.25 · International SMS: ₹1.50

Trigger Condition

Indian Overseas Bank savings, current and cash-credit accounts receiving SMS alerts; recovered quarterly. No cap is stated and none is inferred. Exempt: BSBDA accounts, staff, IOB Salary Diamond/Platinum, SB Max, SB HNI, Super Star, Sixty Plus, pensioner, government and institutional, Freedom, Prime, Priority, Privilege and several other schemes listed in the schedule. GST is additional.

GST: Applicable (+18% GST added to base amount)
Official Source Schedule

Verified on 2026-09-26

What Indian Overseas Bank prints on your statementStatement narrations · 3 decoded

3 narrations decoded against Indian Overseas Bank's own schedule of charges — the plain-English and Hinglish meaning, the exact amount including GST, and how to avoid it.

LOCKER RENT

Annual rent for a safe deposit locker. The amount depends on locker size and branch location.

MIN BAL CHG

A penalty for not keeping the required average balance in your account for the month or quarter.

NEFT CHG

A charge on an outward NEFT transfer. Under RBI rules NEFT sent through internet or mobile banking on a savings account carries no charge.

Annual Account Leakage AuditHow much is Indian Overseas Bank quietly deducting every year?
Annual Account Leakage Audit

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Audit My Indian Overseas Bank Fees
Official Indian Overseas Bank tariff documentsThe bank’s own Schedule of Charges and website
Official Tariffs: View Indian Overseas Bank’s official Schedule of Charges PDF · Visit Official Website
Disputing a Wrongful Charge at Indian Overseas BankDispute & Refund Assistance · RBI three-level route

Under Reserve Bank of India (RBI) consumer protection directives, account holders have statutory rights to claim refunds for unauthorized debits, failed ATM transactions, or penalties debited without prior notification.

LEVEL 1

Branch / Helpdesk Ticket

Email Indian Overseas Bank customer service quoting the transaction ID and account details. TAT: 7 working days.

LEVEL 2

Principal Nodal Officer

If unresolved within 7 days, escalate to Indian Overseas Bank's Principal Nodal Officer (PNO). TAT: 14–30 days.

LEVEL 3

RBI Banking Ombudsman

Lodge a statutory complaint on the RBI CMS Portal (cms.rbi.org.in) if rejected or delayed past 30 days.

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Frequently Asked Questions (Indian Overseas Bank)4 questions

What is the minimum balance (AMB) requirement in Indian Overseas Bank?

In Indian Overseas Bank, the minimum average balance (AMB/MAB) varies by account tier and branch location. Regular savings accounts in metros typically require maintaining the published threshold, while salary accounts and BSBDA zero-balance accounts have ₹0 AMB requirements.

What are the debit card annual maintenance charges (AMC) for Indian Overseas Bank?

Debit card maintenance charges at Indian Overseas Bank are billed annually based on card variant plus 18% GST.

Can Indian Overseas Bank deduct minimum balance penal charges without sending an SMS?

No. Under RBI Master Direction (DBOD.No.Leg.BC.21/09.07.006/2015-16), Indian Overseas Bank is legally mandated to notify the customer via SMS or email giving them a 30-day notice window to restore their balance before any penalty can be debited. If debited without prior notification, you are entitled to a full reversal.

How do I dispute a wrongful fee or charge deducted by Indian Overseas Bank?

To dispute a wrongful deduction at Indian Overseas Bank: (1) Send an email to the Branch Manager / Customer Service citing the relevant RBI circular and transaction ID. (2) If unresolved within 7 days, escalate to Indian Overseas Bank's Principal Nodal Officer (PNO). (3) If unresolved after 30 days, lodge a complaint with the RBI Banking Ombudsman via the CMS portal (cms.rbi.org.in).