[14] Founded in 1907 as an Indian state-owned financial services company, Indian Bank established as a premier bank in the state of Tamil Nadu, and considering the popularity and passion for the game of football in the region, decided to launch a team of its own and register it with Tamil Nadu Football Association (TNFA).

[19][20] Since then, Indian Bank began participating in tournaments conducted by TNFA and CFA, including Vittal Trophy,[21] Chennai Universal Cup,[22] and TFA Shield.

[27] In 1998, Indian Bank clinched their first knock-out title, Lal Bahadur Shastri Cup, defeating Delhi Blues XI 2–1.

[28] In February 2000, they again emerged victorious in Tirur All-India Football Tournament in Kerala, beating Goan side Vasco SC 5–4.

[41][42] After a long hiatus between TNFA and CFA,[43][44] the 2021–22 Chennai Senior Division kicked off on 9 May 2022 with 10 teams competing for the title,[45] and Indian Bank achieved fifth place.

[46][47] The club has also a rivalry with local sides like Integral Coach Factory (ICF FC), Chennai Customs SC and Hindustan Eagles.

[86] The club also operates men's basketball section, participate in numerous regional and domestic tournaments including PSG Trophy and IOB-CDBA Championship.