Torus Digital v/s ICICI 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 ICICI Bank savings account interest rates across balance slabs to help you decide.
| Savings Account Balance Slab Savings A/c Balance Slab | ICICI Bank Savings Account ICICI 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% |
| >₹25 Cr | 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 ICICI Bank Account to help you decide.
| Charges / Fees Charges / Fees | ICICI Bank Savings Account ICICI Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Minimum Average Monthly/Quarterly Balance | ₹5,000 MAB | NIL |
| Non-Maintenance Charges | ₹100 + 5% of the shortfall in required MAB | NIL |
| Cheque Book Charges | Nil for 20 payable-at-par cheque leaves in a year; Rs. 20 for every additional cheque book of 10 leaves | 20 leaves free per quarter, additional cheque fees- ₹2 per leaf |
| Account Closure Charges | NIL | NIL |
| ATM Withdrawals | ICICI Bank ATMs: Nil Non-ICICI ATMs: First 5 transactions free, then ₹20/financial txn & ₹8.50/non-financial txn Anywhere cash withdrawal: Nil for first transaction/month, then ₹5 per ₹1,000 or part thereof (min ₹150) | 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 ICICI savings account to see which suits you best.
| Feature Feature | ICICI Bank Savings Account ICICI 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 | ₹5,000 MAB monthly | No minimum balance requirements |
| Penalty for non-maintenance | ₹100 + 5% of shortfall in required MAB | No charges |
| Cheque book facility | Nil (free cheque book) | Not applicable |
| Debit Card | ₹150 p.a. (₹99 for Gramin) | Digital RuPay Debit Card |
| Investment Feature | Not applicable | ‘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 & Online | 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 ICICI Bank Savings Account
When it comes to interest earnings, Torus Digital clearly stands out. While ICICI Bank Account interest rates range from 2.75% to 4% for most balances and only go higher for very large deposits, Torus Digital offers tiered rates going up to 7.50% p.a.—significantly higher across key balance slabs. For those looking to maximise returns on idle funds without locking them in, the Torus Digital Savings Account offers one of the most attractive 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 ICICI 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 | ICICI Bank Savings Account ICICI 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,Application letter from National Population Register | Aadhaar Card (mandatory) - used for both identity & address verification |
| PAN Card | Required (part of identity documents) | Mandatory for onboarding and KYC verificationthly |
| 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 ICICI 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 | ICICI Bank Savings Account ICICI Bank | Torus Digital Savings Account Torus Account |
|---|---|---|
| Account Holders | Indian Residents, HUFs, Foreign Nationals (residing in India) Individuals aged 18 years and above | Resident Individual (Single) |
| Minors | Savings accounts can be accessed by minors | N/A |
| Senior Citizens | Available for individuals aged 60 years and above | Age is no bar |
| Foreign Nationals | Foreign Nationals residing in India (with valid passport, visa, FRRO certificate, residential permit) aged 18 years or older | 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 is an ICICI Savings Account?
- An ICICI Savings Account is a banking solution provided by ICICI Bank, offering secure and convenient banking services with features such as digital banking access, attractive interest rates, and multiple account options tailored to different customer needs.
2. What are the key charges associated with an ICICI Savings Account?
- Some common charges include:
- Cash Transactions: Rs. 150 per transaction after 4 free cash transactions per month.
- ATM Withdrawals (Interchange Fees): Rs. 21 per financial transaction and Rs. 8.5 per non-financial transaction after the free limit (3 free transactions in metro locations, 5 elsewhere).
- Cheque Books: First 25 cheque leaves are free; Rs. 2 per leaf thereafter.
- Debit Card Annual Fee: Rs. 150 (Rs. 99 for Gramin locations).
3. Can I use my ICICI Savings Account for online banking and mobile banking?
- Yes, ICICI Bank offers internet banking and mobile banking for easy fund transfers, bill payments, account management, and investment services.
4. What happens if I do not maintain the required minimum balance?
- If the required MAB is not maintained, ICICI Bank charges 6% of the shortfall or Rs. 500, whichever is lower.
5. How Can You Choose Between an ICICI Savings Account and a Torus Digital Savings Account?
- When selecting a savings account, it's essential to consider features that align with your financial needs and lifestyle. If you prefer a trusted, traditional banking experience with extensive branch access and multiple savings account options, the ICICI Savings Account offers security, flexibility, and a range of banking services.
- On the other hand, if you're looking for a fully digital, high-interest, and hassle-free banking experience, the Torus Digital Savings Account Powered By Suryoday Small Finance Bank (SSFB) stands out with its unique benefits.
- With Torus Digital, you can earn a competitive interest rate credited monthly instead of quarterly, helping your savings grow faster. Unlike traditional accounts, it offers a zero balance requirement with no penalties, making it an ideal choice for those who want complete financial flexibility.
- Beyond savings, Torus Digital provides integrated investment and stock trading features, including the ‘Invest Your Interest’ option, which allows you to automatically invest your monthly-earned interest into selected ETFs for potential additional returns. The Block Funds Facility enables you to trade in stocks directly from your savings account without impacting liquidity.
- This 100% digital-first account eliminates paperwork and long wait times, allowing you to open an account in just 6 minutes. With a Digital RuPay Debit Card, seamless transactions, and round-the-clock online access, Torus Digital ensures a faster, smarter, and more rewarding banking experience.
