{"id":10466,"date":"2026-02-12T09:25:53","date_gmt":"2026-02-12T09:25:53","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=banking&p=10466"},"modified":"2026-02-12T09:25:53","modified_gmt":"2026-02-12T09:25:53","slug":"iob-charges-2026-savings-account-atm-neft-service-fees-explained","status":"publish","type":"banking","link":"https:\/\/lemonn.co.in\/blog\/banking\/iob-charges-2026-savings-account-atm-neft-service-fees-explained\/","title":{"rendered":"IOB Charges 2026: Savings Account, ATM, NEFT & Service Fees Explained"},"content":{"rendered":"\n

If you have an account with Indian Overseas Bank (IOB)<\/strong>, it\u2019s important to understand the applicable service charges. These charges may vary based on account type, branch category, and transaction type.<\/p>\n\n\n\n

Here\u2019s a complete guide to IOB charges in 2026<\/strong>.<\/p>\n\n\n\n

Quick Summary: IOB Common Charges<\/h2>\n\n\n\n
Service<\/th>Charges (Typical)<\/th><\/tr><\/thead>
Savings Account Opening<\/td>Usually Free<\/td><\/tr>
Minimum Balance Non-Maintenance<\/td>Applicable (varies by branch type)<\/td><\/tr>
ATM Withdrawal (Beyond Free Limit)<\/td>Charges may apply<\/td><\/tr>
NEFT\/RTGS (Online)<\/td>Usually Free<\/td><\/tr>
Cheque Book<\/td>Free up to limited leaves<\/td><\/tr>
SMS Alerts<\/td>Nominal quarterly charges<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Charges may vary depending on metro, urban, semi-urban, or rural branch.<\/p>\n\n\n\n

IOB Savings Account Charges<\/h1>\n\n\n\n

Minimum Average Balance (MAB)<\/h3>\n\n\n\n

IOB requires customers to maintain a minimum balance depending on:<\/p>\n\n\n\n

    \n
  • Metro branch<\/li>\n\n\n\n
  • Urban branch<\/li>\n\n\n\n
  • Semi-urban branch<\/li>\n\n\n\n
  • Rural branch<\/li>\n<\/ul>\n\n\n\n

    If MAB is not maintained:<\/p>\n\n\n\n

      \n
    • Penalty charges may apply<\/li>\n\n\n\n
    • GST may be added<\/li>\n<\/ul>\n\n\n\n

      Always confirm your specific MAB requirement.<\/p>\n\n\n\n

      IOB ATM Charges<\/h1>\n\n\n\n

      Free Transactions:<\/h3>\n\n\n\n
        \n
      • Limited free transactions at IOB ATMs<\/li>\n\n\n\n
      • Limited free transactions at other bank ATMs<\/li>\n<\/ul>\n\n\n\n

        After free limit:<\/p>\n\n\n\n

          \n
        • Charges per withdrawal may apply<\/li>\n\n\n\n
        • Balance enquiry charges may apply beyond free limit<\/li>\n<\/ul>\n\n\n\n

          ATM usage rules follow RBI guidelines.<\/p>\n\n\n\n

          IOB NEFT \/ IMPS \/ RTGS Charges<\/h1>\n\n\n\n

          Online Transfers (NetBanking\/Mobile Banking)<\/h3>\n\n\n\n
            \n
          • Usually free for NEFT and RTGS<\/li>\n\n\n\n
          • IMPS generally free or minimal charge<\/li>\n<\/ul>\n\n\n\n

            Branch Transactions<\/h3>\n\n\n\n
              \n
            • Charges may apply for branch-based transfers<\/li>\n\n\n\n
            • GST applicable<\/li>\n<\/ul>\n\n\n\n

              Charges depend on transfer amount.<\/p>\n\n\n\n

              IOB Cheque Book Charges<\/h1>\n\n\n\n
                \n
              • Limited free cheque leaves per year<\/li>\n\n\n\n
              • Additional leaves charged per leaf or per booklet<\/li>\n<\/ul>\n\n\n\n

                Charges may vary by account type.<\/p>\n\n\n\n

                IOB Debit Card Charges<\/h1>\n\n\n\n

                May include:<\/p>\n\n\n\n

                  \n
                • Annual maintenance fee<\/li>\n\n\n\n
                • Replacement card charges<\/li>\n\n\n\n
                • International transaction charges<\/li>\n\n\n\n
                • SMS alert charges<\/li>\n<\/ul>\n\n\n\n

                  Some basic savings accounts may offer free debit card.<\/p>\n\n\n\n

                  IOB Account Closure Charges<\/h1>\n\n\n\n
                    \n
                  • Closure within 12 months may attract charges<\/li>\n\n\n\n
                  • After 1 year, generally free<\/li>\n<\/ul>\n\n\n\n

                    Charges vary by account type.<\/p>\n\n\n\n

                    IOB SMS & Alert Charges<\/h1>\n\n\n\n
                      \n
                    • Nominal quarterly SMS alert fee<\/li>\n\n\n\n
                    • GST applicable<\/li>\n<\/ul>\n\n\n\n

                      Charges may be automatically deducted.<\/p>\n\n\n\n

                      IOB Demand Draft Charges<\/h1>\n\n\n\n
                        \n
                      • Commission based on amount<\/li>\n\n\n\n
                      • Minimum fixed fee<\/li>\n\n\n\n
                      • GST applicable<\/li>\n<\/ul>\n\n\n\n

                        Outstation DD charges may differ.<\/p>\n\n\n\n

                        Common Issues & Tips<\/h1>\n\n\n\n

                        1. Unexpected Deduction<\/h3>\n\n\n\n
                          \n
                        • Check transaction narration<\/li>\n\n\n\n
                        • Download account statement<\/li>\n\n\n\n
                        • Contact branch if unclear<\/li>\n<\/ul>\n\n\n\n

                          2. Avoid Penalties<\/h3>\n\n\n\n
                            \n
                          • Maintain required minimum balance<\/li>\n\n\n\n
                          • Use digital banking for transfers<\/li>\n\n\n\n
                          • Track ATM usage<\/li>\n<\/ul>\n\n\n\n

                            FAQs: IOB Charges<\/h1>\n\n\n
                            \n
                            \n
                            \n

                            1. Does IOB charge for NEFT?<\/h3>\n
                            \n\n

                            A. Online NEFT is usually free. Branch transactions may attract charges.<\/p>\n\n<\/div>\n<\/div>\n

                            \n

                            2. What is IOB minimum balance?<\/h3>\n
                            \n\n

                            A. Depends on branch category (metro\/urban\/rural).<\/p>\n\n<\/div>\n<\/div>\n

                            \n

                            3. Are ATM withdrawals free in IOB?<\/h3>\n
                            \n\n

                            A. Limited free transactions are allowed. Charges apply after limit.<\/p>\n\n<\/div>\n<\/div>\n

                            \n

                            4. Is SMS alert service chargeable?<\/h3>\n
                            \n\n

                            A. Yes, nominal quarterly charges may apply.<\/p>\n\n<\/div>\n<\/div>\n

                            \n

                            5. Can charges change?<\/h3>\n
                            \n\n

                            A. Yes, banks revise service charges from time to time.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n

                            Conclusion<\/h1>\n\n\n\n

                            IOB charges in 2026<\/strong> depend on your account type and usage pattern. To avoid extra fees:<\/p>\n\n\n\n

                              \n
                            • Maintain required minimum balance<\/li>\n\n\n\n
                            • Prefer online banking for transfers<\/li>\n\n\n\n
                            • Monitor ATM usage<\/li>\n\n\n\n
                            • Review the bank\u2019s schedule of charges regularly<\/li>\n<\/ul>\n\n\n\n

                              For exact and updated charges, check with your nearest IOB branch or log in to NetBanking, as fees may vary by location and account category.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-10466","banking","type-banking","status-publish","hentry"],"blocksy_meta":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"web-stories-poster-portrait":false,"web-stories-publisher-logo":false,"web-stories-thumbnail":false},"uagb_author_info":{"display_name":"Sanjit Chakrabortty","author_link":"https:\/\/lemonn.co.in\/blog\/author\/"},"uagb_comment_info":0,"uagb_excerpt":"If you have an account with Indian Overseas Bank (IOB), it\u2019s important to understand the applicable service charges. These charges may vary based on account type, branch category, and transaction type. Here\u2019s a complete guide to IOB charges in 2026. Quick Summary: IOB Common Charges Service Charges (Typical) Savings Account Opening Usually Free Minimum Balance…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking\/10466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/banking"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=10466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}