Is Indian Overseas Bank government or private?

Indian Overseas Bank (IOB) is a major Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India based in Chennai, India, with about 3,400 domestic branches, about 6 foreign branches and representative office. Founded in February 1937 by M. Ct.

Which Indian Bank is government bank?

Ans. The name of 12 PSBs are: Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank and Bank of Maharashtra, State Bank Of India.

Is Indian Overseas Bank become private?

Indian Overseas Bank (IOB) has become the second most-valued listed public sector bank (PSB) with a market capitalisation of over Rs 50,000 crore. As Street discounts privatisation of the state-owned lender, its shares have appreciated nearly 80 per cent on the BSE in the past one month.

Is Indian Overseas Bank safe?

Thus, Indian Overseas Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is. Loan against FD: The investment made in an FD scheme is not only a reliable investment option but can also act as an asset.

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Is IOB a good bank?


Indian Overseas Bank is a major bank based in Chennai with more than 3078 domestic branches,3 extension counters and six branches overseas. Total income stood at Rs 19,578.13 crores as against Rs 13,326.56 crores registered during the same period last financial year in 2012.

Who is the No 1 bank in India?

DBS Bank has taken the top position in a list of the best banks in India, This is DBS Bank’s second consecutive win out of 30 domestic and international banks operating in India. The list was compiled by Forbes in partnership with market research firm Statista.

Is SBI fully government bank?

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. … This is the first ever large scale consolidation in the Indian Banking Industry.

Which is best IOB or SBI?

Some of the key results of the comparison between the two banks are: Lowest Interest rate of SBI Home Loan is 6.70%, which is lower than the lowest interest rate of Indian Overseas Bank at 7.05% and hence, SBI is offering a cheaper loan option. … SBI is a Public Sector Bank with its home loan rates benchmarked to RLLR.

Which is best IOB or Indian bank?

Indian Overseas Bank has a maximum processing fee of ₹ 13,350 compared to Indian Bank with higher processing fees of ₹ 20,381. … Indian Bank is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. Indian Overseas Bank is a Public Sector Bank with its home loan rates benchmarked to RLLR.

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Is HDFC a nationalized bank?

Private sector financial players ICICI Bank and HDFC Bank, who are classified as foreign-owned entities, are on the same footing as nationalised banks as the two are incorporated under the Indian laws, DIPP Secretary R P Singh said today.

Which is best private bank?

List of Top 10 Best Private Banks in India

  • HDFC Bank – Largest Private bank in India. HDFC Bank is the Largest Private Banks in India by Total sales during the Year. …
  • ICICI Bank. …
  • Axis Bank Ltd. …
  • Kotak Mahindra Bank Ltd. …
  • IndusInd Bank Ltd. …
  • Yes Bank Ltd. …
  • Federal Bank Ltd. …
  • IDFC First Bank Ltd.

What does IOB stand for?


Acronym Definition
IOB Indian Overseas Bank
IOB Input Output Block
IOB Institute of Biology
IOB Input/Output Block (in FPGA)

What is the minimum balance in Indian Overseas Bank?

For rural and semi-urban branches, minimum balance of Rs 100 must be maintained for non-cheque operated accounts; Rs 500 for cheque operated accounts. For all other branches, minimum balance of Rs. 500 for must be maintained for non-cheque operated account and Rs. 1000 for cheque operated account.

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