Torus Digital v/s HDFC Bank Savings Account
Interest Rates 2025
When choosing a savings account, interest rates are key. Here’s a comparison of Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) and HDFC Bank savings account interest rates across balance slabs to help you decide.
| Savings Account Balance Slab Savings A/c Balance Slab | HDFC Bank Savings Account HDFC Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Up to ₹1 Lakh |  2.75% | 2.50% |
| >₹1L – 5L (incl.) | 2.75% | 4.00% |
| >₹5L – 10L (incl.) | 2.75% | 7.25% |
| >₹10L – 50L (incl.) | 2.75% | 7.50% |
| >₹50L – 5Cr (incl.) | 3.25% | 7.50% |
| >₹5Cr – 25Cr (incl.) | 3.25% | 7.75% |
| >₹25Cr | 3.25% | Contact Branch |
Open your Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) today and start earning up to 7.75% interest
Open Account NowCharges & Fees
Here’s a quick comparison of the fees and charges for the Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) and HDFC Bank Account to help you decide.
| Charges / Fees Charges / Fees | HDFC Bank Savings Account HDFC Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Minimum Average Monthly/Quarterly Balance | Metro/Urban:₹10,000 Semi-Urban:₹5,000 Rural:₹2,500 | NIL |
| Non-Maintenance Charges | 6% of shortfall from required balance or ₹600 (Metro/Urban) ₹300 (Semi-Urban/Rural), whichever is lower | NIL |
| Cheque Bounce Charges (Insufficient Funds) | 1st Return: ₹450 (₹400 Senior Citizens) 2nd Return: ₹500 (₹450 Senior Citizens) 3rd onwards: ₹550 (₹500 Senior Citizens) | NIL |
| Cheque Bounce Charges (Technical Reasons) | ₹50 (₹45 Senior Citizens) | NIL |
| Cheque Return | ₹350 (₹315 Senior Citizens) | ₹200 |
| Cheque Book Charges | First Chequebook (5 leaves) - Free for select accounts Subsequent chequebook ₹4 per cheque leaf or ₹100 for 25 leaves | 20 leaves free per quarter, additional cheque fees- ₹2 per leaf |
| Account Closure Charges | Up to 14 days - No charge 15 days to 1 year - ₹500 (₹300 Senior Citizens) Above 1 year - No charge | NIL |
| ATM Withdrawals | Free up to 5 withdrawals per month, then ₹20 per transaction | Limit: ₹1,00,000/day |
Features of Saving Account
Let’s compare the key features of the Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) and the HDFC savings account to see which suits you best.
| Feature Feature | HDFC Bank Savings Account HDFC Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Interest rate | Up to 3.25% p.a. | Up to 7.75% p.a. |
| Interest payout | Quarterly | Monthly |
| Minimum balance requirement | ₹10,000 (Metro/Urban) ₹5,000 (Semi-Urban) ₹2,500 (Rural) | No minimum balance requirements |
| Penalty for non-maintenance | Charges apply based on balance shortfall | No charges |
| Cheque book facility | Available with issuance fees | Not applicable |
| Debit Card | Multiple variants, including RuPay and Visa, with associated benefits | Digital RuPay Debit Card |
| Investment Feature | Sweep-in facility for FD linkage | ‘Invest Your Interest’ feature to invest earned interest in selected ETFs |
| Stock Market Transactions | Not applicable | Block Funds Facility – trade in stocks directly from the savings account while earning interest |
| Fund Transfers | NEFT/ RTGS/ IMPS/ UPI | NEFT/ RTGS/ IMPS/ UPI |
| Cash Withdrawals | ATM withdrawal limits apply | Digital-first approach |
| Banking Process | Physical and online banking | Fully digital process, account opens in 6 minutes |
Open your Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) today and enjoy smarter banking with higher interest and zero hassle!
Open Account NowWhich Account Offers the Best Interest Rate? Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) vs HDFC Bank Savings Account
When it comes to interest earnings, Torus Digital clearly stands out. While the HDFC Savings Account interest rates range from 2.75% to 3.25%, Torus Digital offers tiered rates going up to 7.75% p.a.—significantly higher across all balance slabs. For those looking to maximise returns on idle funds without locking them in, Torus Digital savings account offers one of the best interest rates in the market, making it a smart choice for modern savers.
Documents Required
To open a savings account, whether with Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) or an HDFC Bank account, having the right documents ready can make the process quick and hassle-free. Below is a comparison of the key document requirements to help you get started smoothly.
| Documents Required Documents Required | HDFC Bank Savings Account HDFC Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Proof of Identity & Address (Any one) | Aadhaar Card, Voter ID, Passport, Driving License, PAN Card, NREGA Job Card, ID card issued by central/state govt., PSUs, or banks | Aadhaar Card (mandatory) and original PAN Card (mandatory); Aadhaar used for both identity and address verification |
| PAN Card | Required (part of identity documents) | Mandatory for onboarding and KYC verifications |
| Photographs | Two recent passport-sized photographs | Not needed separately — live selfie captured digitally during onboarding Video KYC |
| Additional Documents | Duly filled account opening application form | No physical form needed — all details filled digitally in the app |
Eligibility Criteria
When choosing between a Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) and an HDFC savings account, it’s important to understand the eligibility criteria for each. Knowing who can open these accounts helps you decide which option best fits your banking needs.
| Eligibility Criteria Eligibility Criteria | HDFC Bank Savings Account HDFC Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Account Holders | Resident Individuals (single/joint), Hindu Undivided Families (HUFs) | Resident Individual (Single) |
| Minors | Minors above 10 years can open self-operated accounts with ATM/Debit Card | N/A |
| Senior Citizens | Senior citizen accounts available for those above 60 years | Age is no bar |
| Foreign Nationals | Must reside in India for over 180 days, valid passport, visa, FRRO certificate, residential permit required | N/A |
| Residency Status | Resident individuals only | Resident individuals only |
Why Choose Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB)?
The Torus Digital Savings Account, powered by Suryoday Small Finance Bank (SSFB), offers a range of innovative features designed to give you the best banking experience with attractive returns and complete convenience
- High Interest Rates: Earn up to 7.75% p.a : Best in class interest rates available on savings accounts today.
- Monthly Interest Credit: Enjoy the benefit of monthly interest being credited directly to your account, helping your savings grow faster.
- Zero-Balance Account : Say goodbye to minimum balance requirements and maintenance fees - enjoy the freedom of a truly zero-balance account.
- Invest Your Interest : Boost your savings with the unique ‘Invest Your Interest’ feature, allowing you to invest your interest earnings in ETFs starting at just ₹27, potentially earning up to 15% extra.
- Digital RuPay Debit Card : Shop online and make secure transactions easily with the Torus Digital RuPay Debit Card, powered by SSFB.
- Block Funds Facility : Combine liquidity with growth by trading stocks directly from your savings account while still earning monthly interest.
- Instant Fund Transfers : Seamlessly transfer funds to your trading account without any delays.
- 24/7 Customer Support : Get round-the-clock assistance whenever you need help.
- Fully Digital Process : Open and manage your account entirely online quick, hassle-free, and paperless.
Additionally, you can explore the Torus Digital 3-in-1 Account that integrates your savings, trading, and demat accounts into one powerful platform, giving you seamless control over your finances with enhanced convenience.
About 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 license. With a strong foundation in inclusive banking, SSFB today powers next-gen digital savings solutions through platforms like Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB).
Frequently Asked Questions
1. What are the HDFC Savings Account interest rates?
- HDFC Savings Account interest rates determine the returns earned on your deposited funds, allowing your savings to grow over time. The bank follows a structured interest rate system where interest is calculated based on the daily balance and credited quarterly. Below is the slab-wise interest rate structure for HDFC Savings Account interest rates, ranging from 3% to 3.5% per annum, based on different account balances:
- Less than ₹50 Lakh – 3.00% p.a.
- ₹50 Lakh and above – 3.50% p.a.
- These rates ensure that account holders receive steady earnings, helping them maximise their savings efficiently.
2. How can I open an HDFC Savings Account?
- You can open your either online or by visiting a branch.
- 1 ) Online Process (InstaAccount):
- Visit the HDFC Bank website and select the option to open a Savings Account.
- Enter your mobile number and fill out the application form.
- Upload the required KYC documents, such as Aadhaar Card, PAN Card, or other valid identity and address proofs.
- Complete the video KYC verification with HDFC Bank official.
- Once verified, your account will be opened, and you will receive your account details.
- 2 ) Branch Visit:
- Visit your nearest HDFC Bank branch with the necessary documents, including Aadhaar Card, PAN Card, passport-sized photographs, and proof of address.
- Fill out the account opening form and submit your documents.
- Once your details are verified, your Savings Accountwill be activated.
- After opening your account, you can log in via NetBanking or MobileBanking to start managing your funds.
3. How can I update my contact details for my HDFC Bank Savings Account?
- You can update your contact details for your Savings Account through online Insta Services or by visiting a branch.
- 1) Via Insta Services (Online):
- Ensure you have your registered mobile number, Debit Card, or Net Banking details ready for verification.
- By Visiting an HDFC Bank Branch:
- Obtain the Contact Detail Modification Form from the HDFC Bank website or any branch.
- Fill in the required details and submit the form at the nearest HDFC Bank branch along with valid photo ID proof.
- You can also update your details using biometric authentication at the branch.
- If you are overseas, you may send a request via Overseas Mail Services along with a self-attested Officially Valid Document (OVD) for verification.
4. How to choose the right savings account?
- When selecting a Savings Account, consider these key factors:
- Assess your financial goals and banking needs.
- Compare interest rates offered by different banks.
- Check the minimum balance requirements to avoid penalties.
- Ensure the account provides easy access through online and mobile banking.
- Review the benefits of the debit card, such as cashback offers or transaction limits.
5. How to Choose Between an HDFC Savings Account and a Torus Digital Savings Account?
- When selecting a savings account, it's essential to compare features that align with your financial needs. If you're looking for traditional banking experience with branch access, HDFC Account provides stability, multiple account variants, and additional banking privileges. On the other hand, Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB), part of the Torus Digital Savings Account 3-in-1 Account, offers a fully digital experience with added investment benefits.
- Torus Digital stands out with a high-interest rate of up to 7.75% p.a., credited monthly instead of quarterly, helping your savings grow faster. Unlike conventional accounts, it has no minimum balance requirements or penalties, making it an excellent choice for those seeking flexibility.
- Beyond savings, Torus Digital integrates investment features. The ‘Invest Your Interest’ option allows you to automatically invest earned interest in selected ETFs, potentially yielding an additional 15% p.a. returns. The Block Funds Facility enables seamless stock market transactions directly from your savings account while continuing to earn interest.
- With a completely digital-first process, Torus Digital allows you to open an account in just 6 minutes. It offers a Digital RuPay Debit Card, smooth online fund transfers, and round-the-clock accessibility, making it an efficient and modern banking alternative.
