Torus Digital v/s Kotak Mahindra Bank Fixed Deposit Interest Rates
About Kotak Mahindra Bank
Kotak Mahindra Bank is one of India’s leading private sector banks, offering a wide array of financial products and services, including savings and current accounts, personal loans, home loans, credit cards, and fixed deposits. It is renowned for its customer-centric approach, providing innovative digital banking solutions to its clients.
FD Interest Rates 2025: Torus Digital FD vs Kotak Mahindra Bank FD
FD Interest Rates 2025: Torus Digital FD vs Kotak Mahindra Bank FD ( Senior Citizens )
Here is a comparative table showcasing the fixed deposit interest rates offered by Torus Digital and Kotak Mahindra 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 Kotak Mahindra Bank for both the general public and senior citizens to help you make an informed investment choice.
| Tenure Tenure | Kotak Mahindra Bank FD Kotak Mahindra Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| 7 – 14 days | 2.75% |  4.00% |
| 15 – 29 days | 3.00% | 4.25% |
| 31 - 45 Days | 3.25% | 4.25% |
| 46 - 90 Days | 3.50% | 4.50% |
| 91 Days | 5.00% | 5.00% |
| 92 Days - 179 Days | 4.25% | 5.00% |
| 180 Days | 6.00% | 5.00% |
| 181 Days to 269 Days | 5.75% | 5.00% |
| 270 Days | 5.75% | 5.50% |
| 271 Days to 363 Days | 6.00% | 5.50% |
| 364 Days | 6.00% | 6.00% |
| 365 Days to 389 Days | 6.25% | 7.50% |
| 390 Days (12 months 25 days) | 6.50% | 7.50% |
| 391 Days - Less than 23 Months | 6.60% | 7.50% |
| 23 Months | 6.60% | 7.50% |
| 23 months 1 Day- less than 2 years | 6.50% | 7.50% |
| 2 years- less than 3 years | 6.40% | 7.75% |
| 3 years and above but less than 4 years | 6.40% | 7.75% |
| 4 years and above but less than 5 years | 6.40% | 8.20% |
| 5 years and above upto and inclusive of 10 years | 6.25% | 8.20% |
| Tenure Tenure | Kotak Mahindra Bank FD (Senior Citizen) Kotak Mahindra Bank FD | Torus Digital FD (Senior Citizen) Torus FD |
|---|---|---|
| 7 – 14 days | 3.25% | 4.40% |
| 15 – 30 days | 3.50% | 4.65% |
| 31 - 45 Days | 3.75% | 4.65% |
| 46 - 90 Days | 4.00% | 4.90% |
| 91 Days | 5.50% | 5.40% |
| 92 Days - 179 Days | 4.75% | 5.40% |
| 180 Days | 6.50% | 5.40% |
| 181 Days to 269 Days | 6.25% | 5.40% |
| 270 Days | 6.25% | 5.90% |
| 271 Days to 363 Days | 6.50% | 5.90% |
| 364 Days | 6.50% | 6.40% |
| 365 Days to 389 Days | 6.75% | 7.90% |
| 390 Days (12 months 25 days) | 7.00% | 7.90% |
| 391 Days - Less than 23 Months | 7.10% | 7.90% |
| 23 Months | 7.10% | 7.90% |
| 23 months 1 Day- less than 2 years | 7.00% | 7.90% |
| 2 years- less than 3 years | 6.90% | 7.90% |
| 3 years and above but less than 4 years | 6.90% | 7.15% |
| 4 years and above but less than 5 years | 6.90% | 7.15% |
| 5 years and above upto and inclusive of 10 years | 6.75% | 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 Kotak Mahindra Bank FD
Let’s compare the key features of the Torus Digital fixed deposit account and Kotak Mahindra Bank fixed deposit account to see which suits you best.
| Feature Feature | Kotak Mahindra Bank FD Account Kotak Mahindra 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 | ₹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 Kotak Mahindra Bank FD
When it comes to FD returns, Torus Digital FD clearly offers more attractive rates. While Kotak Mahindra Bank’s FD rates range from 2.75% to 6.60% p.a. (with a maximum of 7.10% p.a. for senior citizens), Torus Digital offers rates as high as 8.40% p.a. with an annualised yield of 8.67%. Additionally, Torus Digital provides an extra 0.40% interest for senior citizens, while Kotak Mahindra Bank offers up to 0.50% additional interest. If you're looking for higher guaranteed returns, Torus Digital FD is the ideal choice for your investment. 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 Kotak Mahindra Bank FD
To open a fixed deposit account with Torus Digital or Kotak Mahindra Bank, having the right documents ready ensures a smooth process.
| Documents Required Documents Required | Kotak Mahindra Bank FD Kotak Mahindra Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Proof of Identity & Address (Any one) | Aadhaar Card, PAN Card, Voter ID, Passport, Driving Licence | Aadhaar Card (mandatory), PAN Card (mandatory) |
| PAN Card | Mandatory for KYC | Mandatory for KYC |
| Photographs | One passport-sized photograph | Not required separately |
| Additional Documents | Age proof, signature, address proof (for non-account holders) | No physical forms needed – digital onboarding |
| Existing Customers | Existing savings/current account holders can use Netbanking/Mobile Banking | No physical forms, digital process |
| Non-Account Holders | Non-customers need to visit the branch with required KYC documents. | N/A |
Eligibility Criteria: Torus Digital FD vs Kotak Mahindra Bank FD
| Eligibility Criteria Eligibility Criteria | Kotak Mahindra Bank FD Kotak Mahindra Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Account Holders | Indian Nationals, NRIs, Senior Citizens, HUFs | Resident Individuals |
| Minors | Minors allowed with guardianship | 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 |
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 Kotak Mahindra 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 Kotak Mahindra Tax FD Kotak Mahindra | 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 Kotak Mahindra 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 Kotak Mahindra Bank?
- Kotak Mahindra 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 Kotak Mahindra 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 Kotak Mahindra Bank on their Fixed Deposit?
- Kotak Mahindra Bank offers a maximum FD interest rate of 7.10% 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 Kotak Mahindra Bank FD accounts if interest earnings exceed ₹40,000 for regular citizens and ₹50,000 for senior citizens in a financial year.
5. Does Kotak Mahindra Bank offer the premature withdrawal facility?
- Yes, Kotak Mahindra Bank allows premature withdrawal of Fixed Deposits, but it comes with a penalty. The penalty is:
- 1) Up to 180 days:No interest paid, only principal refunded.
- 2) 180 to 364 days:180 to 364 days: 0.50% penalty on the interest rate.
- 3) 365 days and above:1.00% penalty on the interest rate.
- You can withdraw via Mobile Banking, Net Banking, or by visiting the Kotak Branch.
6. What are the tenure options available for Kotak Mahindra Bank FD?
- Kotak Mahindra Bank FD tenures range from 7 days to 10 years, offering flexibility as per your investment goals.
