Fixed Deposit Interest Rates
Rate of Interest on Torus Digital’s Fixed Deposits
*Important: Rate for amount < ₹3 Crore. The below mentioned rates are effective from 8th October 2025
| Period | Interest Rate (p.a.) | Annualised Yield (%) |
|---|---|---|
| 7 days to 14 days | 4.00% | 4.00% |
| 15 days to 45 days | 4.25% | 4.25% |
| 46 days to 90 days | 4.50% | 4.50% |
| 91 days to 6 months | 5.00% | 5.00% |
| 6 Month 1 Day | 6.75% | 6.92% |
| Above 6 months 1 Day to 9 months | 5.50% | 5.61% |
| Above 9 months to less than 1 year | 6.00% | 6.14% |
| 1 Year | 7.25% | 7.45% |
| Above 1 year upto 15 months | 7.25% | 7.45% |
| Above 15 months to 18 Months | 7.50% | 7.63% |
| Above 18 months to 2 years | 7.25% | 7.45% |
| Above 2 years to 30 Months | 7.25% | 7.45% |
| Above 30 months to 36 Months | 7.25% | 7.45% |
| Above 3 years to less than 5 years | 6.75% | 6.92% |
| 5 Years | 8.00% Highest | 8.24% |
| Above 5 years to 10 years | 7.25% | 7.45% |
Rate of Interest on Torus Digital’s Fixed Deposits - Senior Citizens
*Important: Rate for amount < ₹3 Crore. The below mentioned rates are effective from 8th October 2025
| Period | Interest Rate (p.a.) | Annualised Yield (%) |
|---|---|---|
| 7 days to 14 days | 4.20% | 4.20% |
| 15 days to 45 days | 4.45% | 4.45% |
| 46 days to 90 days | 4.70% | 4.70% |
| 91 days to 6 months | 5.20% | 5.20% |
| 6 Month 1 Day | 6.95% | 7.13% |
| Above 6 months 1 Day to 9 months | 5.70% | 5.82% |
| Above 9 months to less than 1 year | 6.20% | 6.35% |
| 1 Year | 7.45% | 7.68% |
| Above 1 year upto 15 months | 7.45% | 7.68% |
| Above 15 months to 18 Months | 7.70% | 7.90% |
| Above 18 months to 2 years | 7.45% | 7.68% |
| Above 2 years to 30 Months | 7.45% | 7.68% |
| Above 30 months to 36 Months | 7.45% | 7.68% |
| Above 3 years to less than 5 years | 6.95% | 7.13% |
| 5 Years | 8.00% Highest | 8.24% |
| Above 5 years to 10 years | 7.45% | 7.68% |
Terms & Conditions
- For Fixed Deposit placements of ₹3 Crore and above (effective from June 11, 2024), please contact your nearest Suryoday Small Finance Bank branch or call our toll-free number at 1800-266-7711.
- Annualised yield is based on quarterly compounding over a 12-month period.
- Senior Citizen Fixed Deposit Rates are available exclusively to resident individuals aged 60 years and above.
- Interest rates are subject to change at the Bank’s discretion. The applicable rate will be the one in effect at the time the funds are received by the bank.
Interest Calculation Method
- For deposits exceeding 6 months, interest is compounded and paid on a quarterly basis.
- For deposits up to and including 6 months, simple interest is paid at the time of maturity.
- In cumulative/re-investment deposits, interest is compounded every quarter and added to the principal. This ensures that interest earns further interest in subsequent quarters.
- TDS (Tax Deducted at Source) will be applied as per the prevailing Income Tax laws.
- No penalty will be levied for premature withdrawal of cumulative FDs booked for a 1-year tenure.
Interest Computation Guidelines
Interest on Term Deposits is calculated as per guidelines issued by the Indian Banks' Association (IBA):
- Interest is calculated quarterly and is based on the duration of the deposit and the prevailing rate at the time of booking.
- For quarterly payout FDs, interest is calculated on the principal for completed quarters. Any remaining period is calculated based on full months and the actual number of days for partial months.
- For cumulative FDs, interest is compounded every quarter. For periods beyond the last full quarter, interest is calculated proportionally.
- Offered rates apply to FDs booked under the Bank's short-term Regular FD scheme
Interest on Term Deposits is calculated as per guidelines issued by the Indian Banks' Association (IBA):
- The original contracted rate, or the rate in effect at the time of booking for the applicable shorter tenure.
- Additionally, the Bank may apply a penalty rate as per prevailing policy.
- For FDs with monthly or quarterly payouts, interest is calculated up to the second last day of the month or quarter, since the payment process initiates on the final day. This ensures customers receive full interest for the entire deposit period.
Frequently Asked Questions
1. Is the Interest on a Fixed Deposit Taxable?
- Yes, the interest earned on fixed deposits is fully taxable under ‘Income from Other Sources’ as per the Income Tax Act. It is taxed according to your income tax slab. Banks also deduct TDS at 10% on your FD interest income if it exceeds ₹50,000 in a financial year for regular citizens or ₹1 lakh for senior citizens.
2. How Much Interest Can I Earn on My Fixed Deposit?
- Your earnings depend on the FD interest rate, deposit amount, tenure, and compounding frequency. For example, if you invest ₹1 lakh for 5 years at a fixed deposit interest rate of 8.40% with quarterly compounding, you will receive a maturity amount of ₹1,51,536. You can use an FD calculator to estimate your returns accurately based on the latest FD rates and your chosen compounding frequency.
3. How much interest for ₹1 lakh FD?
- The interest earned on a ₹1 lakh FD varies based on the tenure, FD rates, and compounding frequency. For instance, if you invest at an interest rate of 8.40% for five years with quarterly compounding, you would earn ₹51,536 as interest, giving you a maturity value of ₹1,51,536.
4. Can I generate monthly income or interest from an FD Account?
- Yes, you can opt for the monthly interest payout option when booking your FD. In this option, interest is calculated quarterly and paid monthly at a discounted rate compared to cumulative FDs, enabling you to generate regular income while keeping your principal intact.
5. When is TDS Deducted on Fixed Deposit Interest?
- Banks deduct TDS at the time of crediting interest to your account, not at maturity. For FY 2025-26, TDS is applicable if your FD interest exceeds ₹50,000 for regular citizens or ₹1 lakh for senior citizens. You can submit Form 15G or 15H if your total income is below the taxable limits to avoid TDS deductions.
6. What are the best-in-class FD rates for general and senior citizens?
- Major banks currently offer fixed deposit interest rates ranging from 7% to 7.5%. However, Torus Digital offers one of the highest fixed deposit rates at 8.4% per annum, with an annualised yield of 8.7%. Additionally, senior citizens aged 60 years and above can enjoy an extra 0.4% interest on varying FD options, making it an even more rewarding investment option for them.
7. Can you prematurely withdraw from an FD?
- Banks deduct TDS at the time of crediting interest to your account, not at maturity. For FY 2025-26, TDS is applicable if your FD interest exceeds ₹50,000 for regular citizens or ₹1 lakh for senior citizens. You can submit Form 15G or 15H if your total income is below the taxable limits to avoid TDS deductions.
8. What is the maximum FD limit?
- There is generally no upper limit to investing in fixed deposits. However, for deposits of ₹3 crore and above,you should contact Torus Digital’s partner bank Suryoday Small Finance Bank, directly to know the latest FD rates and placement process for high- value investments.
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