{"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":[],"_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}]}}