Torus Digital v/s SBI Bank Fixed Deposit Interest Rates
About SBI Bank
State Bank of India (SBI) is the country’s largest public sector bank, trusted by millions for its wide range of financial services. It offers products including savings accounts, personal and home loans, credit cards, fixed deposits, and digital banking facilities for seamless banking experiences.
FD Interest Rates 2025: Torus Digital FD vs SBI Bank FD
FD Interest Rates 2025: Torus Digital FD vs SBI Bank FD ( Senior Citizens )
Here is a comparative table showcasing the fixed deposit interest rates offered by Torus Digital and SBI 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 SBI Bank for both the general public and senior citizens to help you make an informed investment choice.
| Tenure Tenure | SBI Bank FD SBI Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| 7 – 14 days | 3.05% |  4.00% |
| 15 – 29 days | 3.05% | 4.25% |
| 30 – 45 days | 3.05% | 4.50% |
| 46 – 60 days | 5.05% | 4.50% |
| 61 – 89 days | 5.05% | 4.50% |
| 90 days – 6 months | 5.80% | 5.00% |
| 6 months 1 day | 5.80% | 7.25% |
| Above 6 months 1 day – 9 months | 6.05% | 5.50% |
| Above 9 months – < 1 year | 6.05% | 6.00% |
| 1 year | 6.25% | 7.50% |
| Above 1 year – 15 months | 6.25% | 7.50% |
| 15 months – 18 months | 6.25% | 7.50% |
| 18 months – 21 months | 6.45% | 7.50% |
| 21 months – 2 years | 6.45% | 7.50% |
| 2 years 1 day – < 3 years | 6.45% | 7.50% |
| 30 months – 36 months | 6.30% | 8.15% |
| 3 years 1 day – < 5 years | 6.30% | 6.75% |
| 5 years | 6.05% | 8.40% |
| Above 5 years – 10 years | 6.05% | 7.25% |
| Tenure Tenure | SBI Bank FD (Senior Citizen) SBI Bank FD | Torus Digital FD (Senior Citizen) Torus FD |
|---|---|---|
| 7 – 14 days | 3.55% | 4.40% |
| 15 – 29 days | 3.55% | 4.65% |
| 30 – 45 days | 3.55% | 4.90% |
| 46 – 60 days | 5.55% | 4.90% |
| 61 – 89 days | 5.55% | 4.90% |
| 90 days – 6 months | 6.30% | 5.40% |
| 6 months 1 day | 6.30% | 7.65% |
| Above 6 months 1 day – 9 months | 6.55% | 5.90% |
| Above 9 months – < 1 year | 6.55% | 6.40% |
| 1 year | 6.75% | 7.90% |
| Above 1 year – 15 months | 6.75% | 7.90% |
| 15 months – 18 months | 6.75% | 7.90% |
| 18 months – 21 months | 6.95% | 7.90% |
| 21 months – 2 years | 6.95% | 7.90% |
| 2 years 1 day – < 3 years | 6.95% | 7.90% |
| 30 months – 36 months | 6.80% | 8.15% |
| 3 years 1 day – < 5 years | 6.80% | 7.15% |
| 5 years | 7.05% | 8.40% |
| Above 5 years – 10 years | 7.05% | 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 SBI Bank FD
Let’s compare the key features of Torus Digital fixed deposit account and SBI bank fixed deposit account to see which suits you best.
| Feature Feature | SBI Bank FD Account SBI Bank | Torus Digital FD Account Torus Account |
|---|---|---|
| Interest rate | Up to 6.45% p.a. (general), up to 7.05% p.a. (senior citizens) | Up to 8.40% p.a. |
| Minimum deposit | ₹1,000 | ₹1,000 |
| Interest payout | Monthly/Quarterly/Half-yearly /Yearly/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 with applicable margin | 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 SBI Bank FD
When it comes to FD returns, Torus Digital FD rates clearly stand out. While SBI bank fixed deposit rates range from 3.05% to 6.45% p.a. for general citizens, 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 SBI 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. 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 SBI Bank FD
To open a fixed deposit account with Torus Digital or SBI Bank, having the right documents ready ensures a smooth process.
| Documents Required Documents Required | SBI Bank FD SBI Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Proof of Identity & Address (Any one) | PAN, Aadhaar, Voter ID Card, Driving Licence, or Passport (as per KYC norms) | Aadhaar Card (mandatory), PAN Card (mandatory) |
| PAN Card | PAN Card or Form No. 60 or 61 (for declaration) | Mandatory for KYC |
| Photographs | Four passport-sized photographs | Not required separately |
| Additional Documents | Duly filled SBI FD account opening form, proof of age (Birth Certificate or Graduation/School Passing Certificate), address proof as per KYC norms, and bank account details (account number, IFSC code, branch) | No physical forms needed – digital onboarding |
Eligibility Criteria: Torus Digital FD vs SBI Bank FD
| Eligibility Criteria Eligibility Criteria | SBI Bank FD SBI Bank FD | Torus Digital FD Torus Digital FD |
|---|---|---|
| Account Holders | Indian Resident Individuals, Partnership Firms, Public and Private Limited Companies, Societies, Trusts, HUFs, NRIs and PIOs | 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 and PIOs eligible | 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 SBI 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 SBI Tax FD SBI | Tax Saving FD Torus Digital Tax FD Torus |
|---|---|---|
| Lock-in Period | 5 years | 5 years |
| Interest Rate | 6.05% p.a. (general), 7.05% p.a. (senior citizens) | 8.40% p.a. |
| Senior Citizen Interest Rate | 7.05% 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 SBI 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 SBI Bank?
- SBI Bank requires a minimum deposit of ₹1,000 to open a fixed deposit, similar to Torus Digital, which also allows you to start investing with just ₹1,000. Both options make it convenient for investors to begin their FD journey with a low entry amount while earning attractive returns.
2. What is the maximum difference between FD interest rates for general citizens and senior citizens?
- The maximum difference between SBI 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 SBI Bank on their Fixed Deposit?
- SBI Bank offers a maximum FD interest rate of 6.45% p.a. for general citizens and 7.05% p.a. for senior citizens. 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 SBI bank FD accounts if interest earnings exceed ₹40,000 for regular citizens and ₹50,000 for senior citizens in a financial year.
5. Does SBI Bank offer the premature withdrawal facility?
- Yes, SBI bank FD allows premature withdrawal with applicable penalties depending on tenure.
6. What are the tenure options available for SBI Bank FD?
- SBI bank FD tenures range from 7 days to 10 years, offering flexibility as per your investment goals.
