Indian Overseas Bank

Established on 10th February 1937 by Mr M. Ct. M. Chidambaram Chettyar, leader in banking, insurance and industry areas, Indian Overseas Bank (IOB) had the twin aims of attaining specialization in overseas banking as well as foreign exchange business. IOB has always been talked about for its excellent presence and services. At the time of inauguration, IOB started its business in three branches at the same time. The branches were located at Karaikudi and Chennai in India and Rangoon in Myanmar, erstwhile Burma..

During the time when India became an independent nation, Indian Overseas Bank was running 38 branches in India and 7 overseas branches. At that point of time, the Deposits of the bank was Rs.6.64 crore and Advances was Rs.3.23 crore.

Indian Overseas Bank boasts of a large network of more than 598 ATMs. In the areas of Banking and Insurance industry, Indian Overseas Bank has created a niche for itself in forex business and overseas banking. The retail customers of the bank are hugely benefited by its ATM Banking, Any Branch Banking (ABB) and IOB STARS (Indian Overseas Bank - Speedy Transfer and Realization Service). Its 8% saving (Taxable) Bond Scheme is also very popular with the customers.