Banks will have to offer the same rate for similar bulk deposits accepted on the same day across their branches and for all customers.

Updated on: Sep 29, 2026, 17:11:56 IST

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The way banks disclose interest rates on large fixed deposits will change from October 1, 2026, with new Reserve Bank of India (RBI) rules bringing in daily rate disclosures and greater consistency across branches.

Under the new rules, banks will have to publish applicable interest rates for bulk deposits on their websites by 10 am on every business day. They will get a 10-minute grace period, allowing updates until 10.10 am, Business Standard reported.

Banks will also have to offer the same rate for similar bulk deposits accepted on the same day across their branches and for all customers, the report added.

What changes from October 1

The changes follow the RBI’s July 30, 2026 amendment to its directions on interest rates on deposits. The rules will apply from October 1 to commercial banks and other specified banking categories.

The key change is around bulk deposits, which are large term deposits. Under the RBI framework, these generally start at ₹3 crore for scheduled commercial banks.

Currently, large depositors can negotiate rates with banks depending on the size and nature of their deposit. The new rules do not take away banks ability to price deposits differently. Instead, they put greater emphasis on transparency and consistency in the rates offered.

From October 1, banks must publish bulk deposit interest rates on their websites at 10 am every business day, with a 10-minute grace period for updates. The interest paid on the deposit must match the rate disclosed by the bank in advance. Similar deposits accepted on the same day must also carry the same interest rate across the bank’s branches and for all customers.

In simple terms, a depositor should be able to check the applicable rate online rather than depend only on the rate quoted by a particular branch.

Why the 10 am rate matters

The daily disclosure requirement is particularly important for people placing very large fixed deposits. Bulk deposit rates can change as banks assess their funding requirements. From October 1, banks will have to publicly disclose the applicable rate every business day.

The RBI has also said that interest rates on deposits, including bulk deposits, must be disclosed in advance. Banks must pay interest according to the disclosed schedule.

Can banks still offer different rates?

Yes. The new rules do not mean that every bulk FD at a bank must carry the same rate in every situation.

The RBI has allowed banks to offer differential interest rates on bulk deposits based on the applicable run-off rates under the Liquidity Coverage Ratio (LCR) framework.

Banks can take these differences into account while pricing bulk deposits. So, while similar deposits must get uniform rates, banks will retain some flexibility where deposits have different liquidity characteristics under the LCR framework.

The same flexibility has also been extended to relevant rupee deposits held by non-residents.

What does this mean for regular FD investors?

For most ordinary FD investors, there is no major change in the way they book a deposit. The new provisions mainly deal with bulk deposits and how banks disclose their rates.

Someone investing ₹1 lakh, ₹5 lakh or even ₹25 lakh in a regular FD will not suddenly have to check the bank’s bulk deposit rate at 10 am.

However, the broader principle still matters: banks must disclose deposit rates in advance and follow the disclosed schedule.

What should bulk FD investors do?

From October 1, investors placing ₹3 crore or more in a term deposit should check the bank’s website for the bulk deposit rate published around 10 am on the day the FD is booked. They should not rely only on a rate quoted verbally by a branch or relationship manager.

Investors should also check the deposit category because the rate may differ depending on the nature and liquidity treatment of the deposit. Keeping a copy or screenshot of the published rate when booking the FD can also help. The interest rate mentioned in the FD documentation should correspond with the applicable published rate.

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