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Indian Overseas Bank
3.3
based on 364 Reviews
Video summary
Company Overview
Company Locations
Working at Indian Overseas Bank
Company Summary
Indian Overseas Bank operates within the public banking sector, providing comprehensive financial services through a vast network of domestic and international branches.
Overall Rating
3.3/5
based on 364 reviews
13% below
industry average
Highly rated for
Job security
Critically rated for
Work-life balance, Work satisfaction, Skill development
Work Policy
Work from office
89% employees reported
Monday to Saturday
45% employees reported
Strict timing
70% employees reported
No travel
39% employees reported
View detailed work policy
Top Employees Benefits
Health insurance
18 employees reported
Job/Soft skill training
17 employees reported
Office cab/shuttle
8 employees reported
Cafeteria
5 employees reported
View all benefits
About Indian Overseas Bank
Founded in1937 (88 yrs old)
India Employee Count10k-50k
Global Employee Count10k-50k
India HeadquartersChennai, Tamil Nadu, India
Office Locations
--
Websiteiob.in
Primary Industry
Other Industries
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Indian Overseas Bank is a major public sector bank based in Chennai, India, with about 3,400 domestic branches, about 6 foreign branches and representative office. Founded in February 1937 by Shri. M. Ct
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Indian Overseas Bank Ratings
based on 364 reviews
Overall Rating
3.3/5
How AmbitionBox ratings work?
5
147
4
91
3
52
2
29
1
45
Category Ratings
4.1
Job security
3.3
Salary
3.1
Promotions
3.0
Company culture
3.0
Skill development
3.0
Work satisfaction
2.9
Work-life balance
Indian Overseas Bank is rated 3.3 out of 5 stars on AmbitionBox, based on 364 company reviews.This rating reflects an average employee experience, indicating moderate satisfaction with the company’s work culture, benefits, and career growth opportunities. AmbitionBox gathers authentic employee reviews and ratings, making it a trusted platform for job seekers and employees in India.
Read more
Gender Based Ratings at Indian Overseas Bank
based on 344 reviews
3.0
Rated by 103 Women
Rated 3.8 for Job security and 3.0 for Salary
3.5
Rated by 241 Men
Rated 4.3 for Job security and 3.6 for Salary
Work Policy at Indian Overseas Bank
based on 44 reviews in last 6 months
Work from office
89%
Hybrid
11%
Indian Overseas Bank Reviews
Top mentions in Indian Overseas Bank Reviews
+ 5 more
Compare Indian Overseas Bank with Similar Companies
 |  Change Company |  Change Company |  Change Company | |
|---|---|---|---|---|
Overall Rating | 3.3/5 based on 364 reviews | 3.5/5 based on 12.4k reviews | 3.7/5 based on 19.8k reviews | 4.2/5 based on 12.8k reviews |
Highly Rated for | Job security |  No highly rated category | No highly rated category | Skill development Work-life balance Salary |
Critically Rated for | Work-life balance Skill development Company culture | Promotions Company culture Work satisfaction | Promotions |  No critically rated category |
Primary Work Policy | Work from office 89% employees reported | Work from office 90% employees reported | Work from office 81% employees reported | Work from office 86% employees reported |
Rating by Women Employees | 3.0 Average rated by 103 women | 3.2 Average rated by 2.3k women | 3.5 Good rated by 4.5k women | 4.1 Good rated by 1.4k women |
Rating by Men Employees | 3.5 Good rated by 241 men | 3.5 Good rated by 9.7k men | 3.8 Good rated by 14.7k men | 4.2 Good rated by 10.9k men |
Job security | 4.1 Good | 3.5 Good | 3.7 Good | 4.0 Good |
View more
Indian Overseas Bank Salaries
Indian Overseas Bank salaries have received with an average score of 3.3 out of 5 by 364 employees.
Branch Manager
(32 salaries)
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₹12 L/yr - ₹22 L/yr
Chief Manager
(29 salaries)
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₹20 L/yr - ₹32.4 L/yr
Credit Manager
(19 salaries)
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₹12.3 L/yr - ₹17 L/yr
IT Manager
(16 salaries)
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₹13.3 L/yr - ₹24.5 L/yr
Banking Officer
(13 salaries)
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₹7.1 L/yr - ₹15 L/yr
Business Correspondent
(12 salaries)
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₹1 L/yr - ₹3 L/yr
Bank Manager
(12 salaries)
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₹10.7 L/yr - ₹18 L/yr
Credit Officer
(9 salaries)
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₹14 L/yr - ₹22 L/yr
Branch Head
(8 salaries)
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₹11 L/yr - ₹17.5 L/yr
Assistant General Manager
(8 salaries)
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₹17.6 L/yr - ₹32.8 L/yr
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Indian Overseas Bank News
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Indian Overseas Bank Confident Of Maintaining Over Rs 1,000 Crore Net Profit In This FY: MD & CEO
- Indian Overseas Bank reported a 76% jump in net profit to Rs 1,111 crore.
- Managing Director & CEO expects to grow at 12% in net profit this year.
- The bank aims to maintain over Rs 1,000 crore net profit in future quarters.
- Expected credit growth is around 12-13% during the current financial year.
- IOB is planning to open a branch in Gift City, Gandhi Nagar.
Bloomberg Quint | 20 Jul, 2025
Indian Overseas Bank profit surges 76% y-o-y in Q1, NII grows 13%
- Indian Overseas Bank's profit surged 76% year-on-year in Q1 driven by high growth in interest and non-interest income, along with lower provisions.
- The bank reported a 13% growth in Net Interest Income (NII) and a 43% increase in other income, reaching ₹1,481 crore and ₹2,746 crore, respectively.
- Gross advances increased by 14.1%, with significant growth in RAM loans, while corporate and other loans decreased.
- IOB aims for a total business growth of around 12% in FY26 and targets a credit growth of 12-13%. The bank's asset quality improved, with gross NPA at 1.97% and net NPA at 0.32%.
HinduBusinessLine | 18 Jul, 2025
IOB Q1 net profit surges 76% to ₹1,111 crore
- Indian Overseas Bank (IOB) reported a 76% increase in net profit to ₹1,111 crore for the first quarter of the fiscal year.
- The bank's total income grew to ₹8,866 crore in Q1 FY25-26 from ₹7,568 crore in the same period last fiscal, as per a regulatory filing.
- IOB's interest earned rose to ₹7,386 crore compared to ₹6,535 crore in the June quarter of the previous year.
- The bank's asset quality improved with gross NPAs decreasing to 1.97% and net NPAs dropping to 0.32% by the end of the June quarter.
HinduBusinessLine | 18 Jul, 2025
IOB must have a vision for 2047 aligning with India's growth aspirations, says official
- The Indian Overseas Bank (IOB) was urged by an official to have a vision for 2047 aligning with India's growth aspirations, focusing on innovation and integrity in serving customers.
- Key banking services such as WhatsApp-based banking and Re-KYC through Banking Correspondents were launched to enhance customer service and overall performance.
- Other initiatives included a QR-based Real-Time Customer Feedback System to monitor and improve service experience, with positive feedback used to recognize and motivate employees.
- The bank's digital efforts aim at financial inclusion by offering services in regional languages, contributing to the vision of a digitally empowered economy.
HinduBusinessLine | 13 Jul, 2025
Public sector banks strengthen digital footprints
- Public sector lenders Indian Bank and Indian Overseas Bank launched digital tools and initiatives in Chennai.
- Indian Bank introduced IND-UPI, Agentic AI tool, Ind-SMART Biz platform, and KCC tech stack, among others, enhancing digital services.
- Indian Overseas Bank launched QR-based feedback system and WhatsApp Banking for customer convenience.
- The MDs of the banks, along with other officials, participated in the launch events.
HinduBusinessLine | 12 Jul, 2025
SBI reduces interest rates by up to 50 bps after RBI rate action
- SBI has reduced its Repo Linked Lending Rate (RLLR) by 50 basis points to 7.75%, and its External Benchmark Based Lending Rate (EBLR) to 8.15%.
- The rate cuts come into effect from June 15, 2025, following the RBI's rate cut of 50 basis points to support growth.
- RBI's monetary policy committee, led by Governor Sanjay Malhotra, lowered the repo rate to 5.5% and the cash reserve ratio by 100 basis points to 3%.
- Most banks have already reduced lending rates in response to the RBI's actions, with more expected to follow suit.
- SBI also decreased deposit rates by 25 basis points for fixed deposits up to ₹3 crore across various maturities.
- Interest rates for different term deposits have been adjusted, with rates for 1-2 year deposits at 6.50%, 3-5 year deposits at 6.30%, and 5-10 year deposits at 6.05%.
- The specific scheme '444 days' (Amrit Vrishti) now offers an interest rate of 6.60%.
- Senior citizens receive an additional 50 bps, while super senior citizens are eligible for 60 basis points above the card rate.
- Indian Overseas Bank has launched a Tamil language PIN generation portal for customer convenience.
- Published on June 16, 2025.
HinduBusinessLine | 16 Jun, 2025
Indian Overseas Bank launches Tamil language PIN generation portal
- Indian Overseas Bank has launched a Tamil language PIN generation portal to enhance security by allowing users to create meaningful yet difficult-to-predict PINs.
- The new portal, named Akshara, enables customers to generate PINs using Tamil words or phrases.
- Interested users can access the Tamil-language PIN generation portal through the Indian Overseas Bank website.
- The initiative aligns with the bank's focus on leveraging technology for customer-centric solutions that cater to India's diverse cultural and linguistic landscape.
- Ajay Kumar Srivastava, the MD and CEO of Indian Overseas Bank, emphasized the importance of technology as a facilitator in banking.
- The introduction of Tamil PIN generation aims to offer customers a personalized and secure banking experience.
- The new system reduces the risk of unauthorized access associated with easily guessable numeric PINs.
- Using Tamil words for PINs makes it easier for native speakers to interact with the system.
- Customers can choose significant words or phrases to create personalized and memorable PINs without compromising security.
- The move is a step towards more accessible and inclusive banking services.
- The news was published on June 16, 2025.
HinduBusinessLine | 16 Jun, 2025
Indian Overseas Bank Lowers Repo-Linked Lending Rate By 50 Basis Points
- Indian Overseas Bank has lowered its repo-linked lending rate by 50 basis points to 8.35%, effective from Thursday.
- Last week, the RBI reduced interest rates by 50 basis points, also lowering the cash reserve ratio to boost the economy.
- The RBI's monetary policy committee voted to cut the repo rate to 5.5%, marking a total reduction of 100 basis points in 2025.
- This marks the third interest rate cut by the RBI in 2025, with earlier cuts in February and April.
- Shares of Indian Overseas Bank closed lower before the announcement, declining by 1.91% on the National Stock Exchange.
- The stock has decreased by 40.51% in the last 12 months and 23.53% year-to-date.
Bloomberg Quint | 11 Jun, 2025
Below the line
- Centre cuts duty on crude palm, soya, and sunflower oils by 10 percentage points to discourage refined palm oil imports.
- Government extends duty-free import of yellow peas, drawing criticism from trade due to the impact on the pulses market.
- Fake job offers via social media have increased concerns; a top Indian CEO actively flags and removes misleading posts.
- Indian Overseas Bank, Amul, and Richplus collaborate on promoting organic farming, aiming to dispel myths around access to organic produce.
HinduBusinessLine | 1 Jun, 2025
IOB, Amul, and Richplus join hands to support organic farmers
- Indian Overseas Bank (IOB) has partnered with Amul's organic fertilizer business and Richplus to support organic farmers through credit and other assistance.
- IOB aims to onboard 1 lakh organic farmers in Tamil Nadu initially and then expand the program nationally, offering them benefits like a co-branded Organic Farming Card for discounted inputs and agronomist support.
- The partnership includes facilitating NPOP certification for farmers, buy-back arrangements for fair pricing, and introducing a dedicated credit scheme called 'Harit Kranti' for organic farmers.
- The collaborative effort plans to promote organic farming through structured engagement strategies, training, certification, and market access, with a focus on sustainable growth and innovation for a greener future.
HinduBusinessLine | 29 May, 2025
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Indian Overseas Bank FAQs
When was Indian Overseas Bank founded?
Indian Overseas Bank was founded in 1937. The company has been operating for 88 years primarily in the Banking sector.
Where is the Indian Overseas Bank headquarters located?
Indian Overseas Bank is headquartered in Chennai, Tamil Nadu.
How many employees does Indian Overseas Bank have in India?
Indian Overseas Bank currently has more than 23,000+ employees in India. BFSI, Investments & Trading department appears to have the highest employee count in Indian Overseas Bank based on the number of reviews submitted on AmbitionBox.
Does Indian Overseas Bank have good work-life balance?
Indian Overseas Bank has a work-life balance rating of 2.9 out of 5 based on 300+ employee reviews on AmbitionBox. 35% employees rated Indian Overseas Bank 3 or below for work-life balance. This rating reflects a negative sentiment among employees for work-life balance. We encourage you to read Indian Overseas Bank work-life balance reviews for more details.
Is Indian Overseas Bank good for career growth?
Career growth at Indian Overseas Bank is rated as moderate, with a promotions and appraisal rating of 3.1. 35% employees rated Indian Overseas Bank 3 or below, while 65% employees rated it 4 or above on promotions / appraisal. This rating suggests that while some employees view growth opportunities favorably, there is scope for improvement based on employee feedback. We recommend reading Indian Overseas Bank promotions / appraisals reviews for more detailed insights.
What are the pros and cons of working in Indian Overseas Bank?
Working at Indian Overseas Bank comes with several advantages and disadvantages. It is highly rated for job security. However, it is poorly rated for work life balance, work satisfaction and skill development, based on 300+ employee reviews on AmbitionBox.
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