:: Indian Overseas Bank

Customers are required to place a minimum of SGD5,000/-. Deposit can be placed in various major currencies.
Board rates are applicable up to SGD50,000/- and anything above will be referred to the dealer.
Acceptance of large deposits will be at the sole discretion of the bank.
Individuals can open fixed Deposit accounts either singly or in Joint names. Companies and Societies can open fixed Deposits also.
Photo Copies of Passport / IC / Employment Pass to be submitted. Original documents should be shown at the time of verification
Deposits can be placed for various periods as prevailing at the time of opening of Deposit account.
1% penalty will be levied for premature closure of the Deposit.
Change of address should be communicated promptly.
Notification to customers will be by post and the last given address will be deemed to be the actual address.
For USD accounts, deposits in USD currency will be subjected to levy of exchange of 1% and withdrawal in US Dollars depends on the availability of US Dollars with bank.
Guarantee letter against Fixed Deposits for child education available on request at a fee. Statements for Income Tax purpose also available at a fee.
Receipts will be given the next working day and can be requested to be collected by hand or posted.