About the Scheme

The IOB Step-Up RD Scheme is an innovative recurring deposit product that helps customers build disciplined savings with unmatched flexibility. Customers can start with a fixed monthly core deposit and increase contributions anytime through multiple top-ups during the month.

With attractive term deposit interest rates on daily balances, digital accessibility, partial withdrawal facility, and Personal Accident Insurance coverage, the scheme is ideal for individuals, professionals, businesses, and institutions.

Why Choose IOB Step-Up RD?

Flexible Savings

Increase your deposit amount anytime with unlimited top-ups during the tenure.

Higher Returns

Earn attractive term deposit interest on daily balances.

Digital Convenience

Operate seamlessly through Internet Banking, Mobile Banking, and Branches.

Financial Protection

Enjoy built-in Personal Accident Insurance coverage.

Partial Withdrawal Facility

Withdraw up to 50% of the outstanding balance after completion of 50% tenure.

Loan Facility

Avail loan up to 90% of the deposit balance.

Key Features

Interest is calculated based on daily balances as applicable to term deposits.

Personal Accident Insurance Benefits

Insurance coverage is applicable to the primary account holder and subject to policy terms & conditions.

Eligibility

The scheme is available for:

• Individuals
• Joint Account Holders
• Minors above 10 years
• Proprietorships & Partnership Firms
• Companies & Institutions
• Clubs, Associations & Societies
• Government Bodies
• IOB Staff & Ex-Staff

How the Step-Up Facility Works

1. Open the RD account with a fixed monthly core amount.
2. Add extra deposits anytime during the month.
3. Earn interest on every additional contribution.
4. Continue growing your savings with complete flexibility.

Ideal For

• Salaried Professionals
• Business Owners
• Self-Employed Individuals
• Families Planning Future Goals
• Customers Seeking Flexible Investments