Torus Digital v/s ICICI Bank Fixed Deposit Interest Rates
About ICICI Bank
ICICI Bank is one of India’s largest private sector banks, offering a wide array of financial products, including personal loans, home loans, credit cards, savings accounts, fixed deposits, and advanced digital banking solutions for a seamless banking experience.
FD Interest Rates 2025: Torus Digital FD vs ICICI Bank FD
FD Interest Rates 2025: Torus Digital FD vs ICICI Bank FD ( Senior Citizens )
Here is a comparative table showcasing the fixed deposit interest rates offered by Torus Digital and ICICI 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 ICICI Bank for both the general public and senior citizens to help you make an informed investment choice.
| Tenure Tenure | ICICI Bank FD ICICI 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 | 3.00% | 4.50% |
| 46 – 90 days | 4.00% | 4.50% |
| 91 – 184 days | 4.50% | 5.00% |
| 185 – 270 days | 5.50% | 5.50% |
| 271 days – < 1 year | 5.75% | 6.00% |
| 1 year – < 15 months | 6.25% | 7.50% |
| 15 months – < 18 months | 6.35% | 7.50% |
| 18 months – 2 years | 6.50% | 7.50% |
| 2 years 1 day – 5 years | 6.60% | 7.50% |
| 5 years 1 day – 10 years | 6.60% | 8.40% |
| Tenure Tenure | ICICI Bank FD (Senior Citizen) ICICI Bank FD | Torus Digital FD (Senior Citizen) Torus FD |
|---|---|---|
| 7 – 14 days | 3.25% | 4.00% |
| 15 – 29 days | 3.50% | 4.65% |
| 30 – 45 days | 3.50% | 4.90% |
| 46 – 90 days | 4.50% | 4.90% |
| 91 – 184 days | 5.00% | 5.40% |
| 185 – 270 days | 6.00% | 5.90% |
| 271 days – < 1 year | 6.25% | 6.40% |
| 1 year – < 15 months | 6.75% | 7.90% |
| 15 months – < 18 months | 6.85% | 7.90% |
| 18 months – 2 years | 7.00% | 7.90% |
| 2 years 1 day – 5 years | 7.10% | 7.90% |
| 5 years 1 day – 10 years | 7.10% | 8.40% |
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 ICICI Bank FD
Let’s compare the key features of the Torus Digital fixed deposit account and Icici bank fixed deposit account to see which suits you best.
| Feature Feature | ICICI Bank FD Account ICICI Bank | Torus Digital FD Account Torus Account |
|---|---|---|
| Interest rate | Up to 6.60% p.a. (general), up to 7.10% p.a. (senior citizens) | Up to 8.40% p.a. |
| Minimum deposit | ₹10,000 | ₹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 ICICI Bank FD
When it comes to FD returns, Torus Digital FD rates clearly stand out. While ICICI 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 provides an extra 0.40% interest, while ICICI bank FD offers up to 0.50% additional interest. If you are looking for higher assured returns with digital convenience, Torus Digital FD is the ideal choice. Want to calculate your exact FD returns? Use our FD calculator to estimate interest and maturity amount in seconds.
Documents Required: Torus Digital FD vs ICICI Bank FD
To open a fixed deposit account with Torus Digital or ICICI Bank, having the right documents ready ensures a smooth process.
| Documents Required Documents Required | ICICI Bank FD ICICI Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Proof of Identity & Address (Any one) | Any one of Passport, Driving Licence, Voter ID, Aadhaar, NREGA Job Card, or National Population Register letter. PAN Card not valid as ID proof. | Aadhaar Card (mandatory), PAN Card (mandatory) |
| PAN Card | Mandatory for KYC and tax compliance. | Mandatory for KYC |
| Photographs | Originals for verification and photocopies required; photograph generally as per standard KYC norms if asked. | Not required separately |
| Additional Documents | If communication address differs, submit recent utility bill (within 2 months), property tax receipt, employer allotment letter, or pension order containing address. Permanent address and phone number mandatory. | No physical forms needed – digital onboarding |
Eligibility Criteria: Torus Digital FD vs ICICI Bank FD
| Eligibility Criteria Eligibility Criteria | ICICI Bank FD ICICI Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Account Holders | Residents, Hindu Undivided Families, Sole Proprietorship Firms,Partnership Firms, Limited Companies, Trust Accounts Non-Resident Indians, Indians, Minors with Guardianship | Resident Individuals |
| Minors | Allowed with guardianship | Not applicable |
| Senior Citizens | 60 years and above get extra rate | 60 years and above get extra rate |
| Foreign Nationals | NRIs allowed as per eligibility | Not applicable |
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 ICICI 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 ICICI Tax FD ICICI | 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 | 7.10% 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 ICICI 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 ICICI Bank?
- ICICI Bank requires a minimum of ₹10,000 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 ICICI 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 ICICI Bank on their Fixed Deposit?
- ICICI Bank offers a maximum FD interest rate of 6.60% p.a. for tenures between 2 years 1 day and 10 years, with senior citizens earning up to 7.10% p.a. However, Torus Digital provides FD rates up to 8.15% p.a. for a tenure of 30–36 months, offering better returns for those seeking higher yield.
4. Is TDS applicable on an FD account?
- Yes, TDS is deducted on ICICI bank FD accounts if interest earnings exceed ₹40,000 for regular citizens and ₹50,000 for senior citizens in a financial year.
5. Does ICICI Bank offer the premature withdrawal facility?
- Yes, ICICI bank FD allows premature withdrawal with a penalty ranging from 0.50% to 1% below the applicable rate for the tenure your FD remained with the bank.
6. What are the tenure options available for ICICI Bank FD?
- ICICI bank FD tenures range from 7 days to 10 years, offering flexibility as per your investment goals.
