Torus Digital v/s Axis Bank Fixed Deposit Interest Rates
About Axis Bank
Axis Bank is one of India's leading private-sector banks, offering a wide range of financial products and services, including personal loans, home loans, credit cards, savings accounts, fixed deposits, and digital banking solutions. Axis Bank has a strong customer base and is known for its secure and reliable financial services..
FD Interest Rates 2025: Torus Digital FD vs Axis Bank FD
FD Interest Rates 2025: Torus Digital FD vs Axis Bank FD ( Senior Citizens )
Here is a comparative table showcasing the fixed deposit interest rates offered by Torus Digital and Axis Bank for both the general public and senior citizens to help you make an informed investment choice.
Here is a comparative table showcasing the fixed deposit interest rates offered by Torus Digital and Axis Bank for both the general public and senior citizens to help you make an informed investment choice.
| Tenure Tenure | Axis Bank FD Axis Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| 7 – 14 days | 3.00% |  4.00% |
| 15 – 29 days | 3.00% | 4.25% |
| 30 - 45 Days | 3.25% | 4.50% |
| 46 – 60 days | 4.00% | 4.50% |
| 61 – 89 days | 4.00% | 4.50% |
| 90 days – 6 months | 4.50% | 5.00% |
| 6 months 1 day | 5.50% | 7.25% |
| Above 6 months 1 day – 9 months | 5.50% | 5.50% |
| Above 9 months – < 1 year | 5.75% | 6.00% |
| 1 year | 6.25% | 7.50% |
| Above 1 year – 15 months | 6.25% | 7.50% |
| 15 months – 18 months | 6.50% | 7.50% |
| 18 months – 21 months | 6.60% | 7.50% |
| 21 months – 2 years | 6.60% | 7.50% |
| 2 years 1 day – < 3 years | 6.60% | 7.50% |
| 30 months – 36 months | 6.60% | 8.15% |
| 3 years 1 day – < 5 years | 6.60% | 6.75% |
| 5 years | 6.60% | 8.40% |
| Above 5 years – 10 years | 6.60% | 7.25% |
| Tenure Tenure | Axis Bank FD (Senior Citizen) Axis Bank FD | Torus Digital FD (Senior Citizen) Torus FD |
|---|---|---|
| 7 – 14 days | 3.50% | 4.40% |
| 15 – 29 days | 3.50% | 4.65% |
| 30 – 45 days | 3.75% | 4.90% |
| 46 – 60 days | 4.50% | 4.90% |
| 61 – 89 days | 4.50% | 4.90% |
| 90 days – 6 months | 5.00% | 5.40% |
| 6 months 1 day | 6.00% | 7.65% |
| Above 6 months 1 day – 9 months | 6.00% | 5.90% |
| Above 9 months – < 1 year | 6.25% | 6.40% |
| 1 year | 6.75% | 7.90% |
| Above 1 year – 15 months | 6.75% | 7.90% |
| 15 months – 18 months | 7.00% | 7.90% |
| 18 months – 21 months | 7.10% | 7.90% |
| 21 months – 2 years | 7.10% | 7.90% |
| 2 years 1 day – < 3 years | 7.10% | 7.90% |
| 30 months – 36 months | 7.10% | 8.15% |
| 3 years 1 day – < 5 years | 7.10% | 7.15% |
| 5 years | 7.35% | 8.40% |
| Above 5 years – 10 years | 7.35% | 7.65% |
Open your Torus Digital Fixed Deposit today and enjoy attractive returns with flexibility and security.
Open Account NowFeatures of Fixed Deposit: Torus Digital FD vs Axis Bank FD
Let’s compare the key features of the Torus Digital fixed deposit account and Axis Bank fixed deposit account to see which suits you best.
| Feature Feature | Axis Bank FD Account Axis Bank | Torus Digital FD Account Torus Account |
|---|---|---|
| Interest rate | Up to 6.60% p.a. | Up to 8.40% p.a. |
| Minimum deposit | ₹5,000 | ₹1,000 |
| Interest payout | Monthly/Quarterly/Cumulative | Monthly/Quarterly/Cumulative |
| Senior citizen benefit | +0.50% extra | +0.40% extra |
| Premature withdrawal | Allowed with penalty | Allowed, no penalty on specific tenure |
| Loan against FD | Available | Available |
| Tax saving FD | Available | Available |
| Booking process | Online or branch visit | Fully digital |
Open your Torus Digital Fixed Deposit today and enjoy attractive returns with flexibility and security.
Open Account NowWhich FD Offers the Best Interest Rate? Torus Digital FD vs Axis Bank FD
When it comes to FD returns, Torus Digital FD rates clearly stand out. While Axis Bank fixed deposit rates range from 3.00% to 6.60% p.a., Torus Digital offers rates going up to 8.40% p.a. with an annualised yield of 8.67%. For senior citizens, Torus Digital adds an extra 0.40% interest, while Axis Bank FD offers up to 0.50% additional interest. If you are seeking higher guaranteed returns with digital convenience, Torus Digital FD is an ideal choice.
Documents Required: Torus Digital FD vs Axis Bank FD
To open a fixed deposit account with Torus Digital or Axis Bank, having the right documents ready ensures a smooth process.
| Documents Required Documents Required | Axis Bank FD Axis Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Proof of Identity & Address (Any one) | PAN Card, Aadhaar Card (mandatory) | Aadhaar Card (mandatory), PAN Card (mandatory) |
| PAN Card | Mandatory for KYC | Mandatory for KYC |
| Photographs | Four passport-sized photographs | Not required separately |
| Additional Documents | Filled FD account opening form | No physical forms needed – digital onboarding |
| Eligibility Criteria | Indian residents, 18+ years of age, not an existing Axis Bank customer | Resident individuals,senior citizens,etc. |
Eligibility Criteria: Torus Digital FD vs Axis Bank FD
| Eligibility Criteria Eligibility Criteria | Axis Bank FD Axis Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Account Holders | Resident Indians (18+ years of age) | Resident Individuals |
| Minors | FD can be opened in the name of a minor by a parent/guardian. Funds cannot be withdrawn until the minor reaches 18. | Not applicable |
| Senior Citizens | 60 years and above get extra rate | 60 years and above get extra rate |
| Foreign Nationals | Allowed as per RBI norms | Not applicable |
| Conditions | Must not be an existing Axis Bank customer, Must be located in India at the time of opening the account | N/A |
Why Choose Torus Digital Fixed Deposit?
The Torus Digital Fixed Deposit, powered by Suryoday Small Finance Bank (SSFB), offers a range of innovative features designed to give you the best investment experience with attractive returns and complete convenience.
- High FD Interest Rates: Earn up to 8.40% p.a., among the best in the market.
- Flexible Interest Payouts: Choose monthly, quarterly, or cumulative payouts to suit your financial plans.
- Low Minimum Deposit: Start investing with just ₹1,000.
- Senior Citizen Benefits: Enjoy an additional 0.40% interest rate benefit if you are aged 60 years and above.
- Tax Saving FD Option: Claim deductions under Section 80C with the 5-year tax saving FD.
- Loan Against FD: Avail up to 90% of FD value as loan without breaking your deposit.
- No Penalty on Specific Withdrawals: Benefit from no penalty on premature withdrawal of select tenures.
- Fully Digital Process: Open and manage your FD online, ensuring speed and ease.
Additionally, you can explore the Torus Digital 3-in-1 Account, integrating savings account, trading account, and demat account into one platform for seamless financial management.
About Suryoday Small Finance Bank
Suryoday Small Finance Bank (SSFB) began its journey as a microfinance institution in November 2008 and transitioned into a Small Finance Bank in January 2017 after receiving its banking licence. With a strong foundation in inclusive banking, SSFB today powers next-gen digital fixed deposit solutions through platforms like Torus Digital, offering customers high returns with security and digital ease.
Tax on Fixed Deposit: Torus Digital vs Axis Bank
Understanding the tax implications on your fixed deposit helps in planning effective post-tax returns. Here is a clear comparison:
| Aspect Aspect | Tax Saving FD Axis Tax FD Axis | Tax Saving FD Torus Digital Tax FD Torus |
|---|---|---|
| Lock-in Period | 5 years | 5 years |
| Interest Rate | ~6.60% p.a. | 8.40% p.a. |
| Senior Citizen Interest Rate | ~7.35% p.a. | 8.40% p.a. |
| Section 80C Eligibility | Eligible for deductions up to ₹1.5 lakh | Eligible for deductions up to ₹1.5 lakh |
Other Tax Aspects (Same for Both Torus Digital and Axis Bank):
- TDS Applicability: Deducted as per IT rules if interest exceeds ₹40,000 (₹50,000 for senior citizens).
- Tax Treatment: Interest is taxable under ‘Income from Other Sources’.
- Form 15G/15H Submission: Can be submitted to avoid TDS if eligible as per income tax rules.
Frequently Asked Questions
1. What is the minimum amount required to start an FD with Axis Bank?
- Axis Bank requires a minimum of ₹5,000 to open a fixed deposit, offering flexible tenures to suit your goals. In comparison, Torus Digital FDs can be started with just ₹1,000, making it easier for anyone to begin investing with smaller amounts while earning attractive returns.
2. What is the maximum difference between FD interest rates for general citizens and senior citizens?
- The maximum difference between Axis Bank FD interest rates for general and senior citizens is 0.50% across most tenures.
3.What is the highest rate of interest offered by Axis Bank on their Fixed Deposit?
- Axis Bank offers a maximum FD interest rate of 7.35% p.a. for senior citizens. However, Torus Digital provides FD rates up to 8.40% p.a. for a tenure of 5 years, offering better returns for those seeking higher yield.
4. Is TDS applicable on an FD account?
- Yes, TDS is deducted on Axis Bank FD accounts if interest earnings exceed ₹40,000 for regular citizens and ₹50,000 for senior citizens in a financial year.
5. Does Axis Bank offer the premature withdrawal facility?
- Yes, premature withdrawal is allowed but may incur a penalty or reduced interest rates. Charges vary based on the amount and time to maturity.
6. What are the tenure options available for Axis Bank FD?
- Axis Bank offers FD tenures ranging from 7 days to 10 years. Tax-saving FDs have a mandatory 5-year lock-in period.
