Indian Overseas Bank

Indian Overseas Bank is a major bank based in Chennai (Madras), with 2018 domestic branches and six branches overseas. Indian Overseas Bank has an ISO certified inhouse Information Technology department, which has developed the software that 2018 branches use to provide online banking to customers; the bank has achieved 100% networking status as well as 100% CBS status of branches with a total number of 2018 CBS branchs and Extension Counters. IOB also has a network of about 771 ATMs all over India and IOB's International VISA Debit Card is accepted at all ATMs belonging to the Cash Tree and NFS networks. IOB offers internet Banking (E-See Banking) and is one of the banks that the Govt. of India has approved for online payment of taxes.The bank's business more than doubled in the last four years.

Brief History
1937: Shri.M.Ct.M. Chidambaram Chettyar establishes the Indian Overseas Bank (IOB) to encourage overseas banking and foreign exchange operations. IOB started up simultaneously at three branches, one each in Karaikudi, Madras (Chennai) and Rangoon (Yangon). It then quickly opened a branch in Penang and another in Singapore. The bank served the Nattukottai Chettiars, who were a mercantile class that at the time had spread from Chettinad in Tamil Nadu state to Ceylon (Sri Lanka), Burma (Myanmar), Malaya, Singapore, Java, Sumatra, and Saigon. As a result, from the beginning IOB specialized in foreign exchange and overseas banking (see below).
1946: IOB opened a branch in Ceylon.
1947: IOB opened a branch in Bangkok.
1948: United Commercial Bank (see below) opened a branch in Malaya.
1949: IOB opened a branch in Bangkok.
1960s: The banking sector in India was consolidating by the merger of weak private sector banks with the stronger ones; IOB absorbed five banks, including Kulitali Bank (est. 1933).
1969: The Government of India nationalized IOB. At one point, probably before nationalization, IOB had twenty of its eighty branches located overseas. After nationalization it, like all the nationalized banks, turned inward, emphasizing the opening of branches in rural India.
1973: IOB, Indian Bank and United Commercial Bank established United Asian Bank Berhad in Malaysia. (Indian Bank had been operating in Malaysia since 1941 and United Commercial Bank Limited had been operating there since 1948.) The banks set up United Asian to comply with the Banking Law in Malaysia, which prohibited foreign government banks from operating in the country. Also, IOB and six Indian private banks established Bharat Overseas Bank as a Chennai-based private bank to take over IOB's Bangkok branch.
1977: IOB opened a branch in Seoul.
1988-89: IOB acquired Bank of Tamil Nadu in a rescue.
2000: IOB engaged in an initial public offering (IPO) that brought the government's share in the bank's equity down to 75%.
2007: IOB took over Bharat Overseas Bank.
2009: IOB took over Shree Suvarna Sahakari Bank, which was founded in 1969 and had its head office in Pune. 

              Products and services of Indian Overseas Bank
Indian Overses Bank or, IOB offers a comprehensive range of products and services to its individual and institutional clients they are as follows:

# Personal
    Saving Bank
    1. Regular Savings Bank Account
    2. Savings Bank No Frills Account
    3. IOB Savings Bank Gold I
    4. IOB savings Bank Gold II
    5. IOB Savings Bank Silver I
    6. IOB Savings Bank Silver II

    Current Account
    1. IOB CD – Classic
    2. IOB CD – Super

    Term Deposit 
    1. Reinvestment Deposit 
    2. Fixed Deposit 
    3. Recurring Deposit 
    4. Gold Recurring Deposit 
    5. Education Deposit 
    6. Easy Deposit 
    7. Vardhan Deposit 
    8. Floating Rate Deposit 
    9. Tax Saver Scheme 
  10. Cumulative Benefit Deposit 

   Retail Loans
1. Clean Loan
   2. Consumption Loans-Sahayika
   3. Educational Loans-VidyaJyoti
   4. Vehicle Loans- Phushpaka
   5. Commercial cash Credit against Jewellery
   Home Loans & Mortgages
   1. Housing Loans - Subha Gruha
   2. Home Improvement Scheme
   3. Mortgages - Home Décor
   4. Mortgages- Liquirent (Loan Against Rent Receivables)
   5. Mortgages- Easy Trade Finance
   6. NRI Home Loan
   7. Housing Loans - NRI- Home Loans for Relatives of NRI

   Depository Services
   IOB Fine Gold
   IOB  lunch this  service on 19th April 2006, to cater to the needs of  INVESTOR as a
   safe alternate source of investment and for gifting to dear ones.

   International VISA Cards
   1. Insta Cash-International Visa Debit Cards
   2. Credit Card

   Multi City Cheque Facility
   IOB  lanch this  service  to  attract and  maintaining  satisfactorily  operated  Current
   Account or, Cash Credit account.

   1. Health care PLUS
   2. Life Insurance(IOB Jeevan)
   3. Insurance linked scheme for NRIs

   Mutual Fund
   IOB is distributing mutual fund schemes of top performing Mutual Funds to cater to
   the investment  needs of customers and others as Corporate Distributor. They are 
   distribute  all  the New Fund Offers of the Mutual Funds & also facilitate  investment
   in the ongoing schemes.

# Corporate Banking
   Micro Small & Medium Enterprises(MSME)
    1. Term Loan 
    2. Working Capital Loans 
    3. Loans For Professional and Self Employed 
    4. SME Policies

   IT & Ites BPO
    IOB provides all the financial needs to Indian Information Technology (IT) and Ites-
    BPO sector.  

# Rural Banking
     Rural Products  
     1. Sanjeevini  
     2. Akshay 
     3. Housing - Credit cum subsidy for Rural Housing 
     4. Credit Card (Laghu Udyami Credit Card) 
     5. IOB Credit Card (Artisan Credit Card) 
     6. Credit Card Swarojgar  

    Agricultural Short Terms Loans
    1. New Kisan Credit Card
    2. Credit Card KCC
    3. Kisan Green Card
    4. Agri General Purpose credit card
    5. Agri Clinic
    6. Agri Bike
    7. Agri Land

# NRI Accounts
    1. Non-Resident Ordinary (NRO)  
    2. Resident Foreign Currency Account (RFC) 
    3. Foreign Currency Non-Resident Accounts(Banks) 
    4. NRI Homeloan Scheme 
    5. NRI Remittances 
    6. Remittances Procedures 
    7. Tracking Cell 
    8. Forward Cover 
    9. IOB NRI Shield 
  10. IOB Expo Gold Card

# Govt Business
    1. E Payment of Direct Taxes 
    2. E Payment of Indirect Taxes 
    3. Pension Payment Scheme 
    4. Sales Tax Collections 
    5. Provident Fund Scheme 1968 
    6. 8 Percent(%) Savings Taxable Bond Scheme 
    7. Senior Citizen Scheme 2004

# Forex
    1. E-cash home
    2. Lock box
    3. Overseas Cash (Prepaid foreign travel card)

For more information about IOB Bank please see there website (Official website)