New FD Rules From October 1: Banks to Publish Bulk Deposit Rates Daily

Fixed deposit rules for large deposits are set to change from October 1, 2026, with banks required to publish their bulk deposit interest rates every business day and maintain consistency in rates offered on similar deposits. 

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The changes follow the Reserve Bank of India’s amendment to its directions on deposit interest rates issued on July 30, 2026. The revised rules will apply to commercial banks and other specified banking categories. 

The changes largely concern bulk fixed deposits, which generally begin at ₹3 crore for scheduled commercial banks. For regular retail FD customers, the way deposits are booked will largely remain unchanged. 

Bulk FD rates to be published every morning 

From October 1, banks will have to display the interest rates applicable to bulk deposits on their websites by 10 am every business day. 

Banks will have an additional 10-minute window to complete the update, allowing rates to be published until 10:10 am. 

Once disclosed, the interest rate paid on a deposit must correspond with the applicable rate published by the bank in advance. 

Banks will also have to maintain the same rate for similar deposits accepted on the same day, irrespective of the branch or customer. 

For large depositors, this means the applicable interest rate can be checked directly on a bank’s website instead of depending only on the rate communicated by a particular branch. 

Banks retain some flexibility in setting rates 

The new rules do not require every bulk fixed deposit to carry an identical interest rate. 

Banks will continue to have some flexibility to offer different rates on bulk deposits based on the applicable run-off rates under the Liquidity Coverage Ratio framework. 

The LCR framework requires banks to maintain sufficient high-quality liquid assets to meet potential cash outflows. Since different categories of deposits and wholesale funding can carry different assumptions about how quickly funds may leave a bank, these differences can be considered while determining bulk deposit rates. 

The same flexibility will also apply to relevant rupee deposits held by non-residents. 

While different categories of bulk deposits can therefore carry different rates, similar deposits accepted on the same date will have to be treated uniformly. 

What changes for regular FD customers? 

For most retail depositors, the revised framework does not bring a significant change to the process of opening an FD. 

Someone investing ₹1 lakh, ₹5 lakh or even ₹25 lakh in a regular fixed deposit will not be required to check the bulk deposit rate published at 10 am. 

The broader requirement that banks disclose deposit rates in advance and pay interest according to the applicable disclosed schedule, however, remains relevant. 

The bigger change is for customers placing large deposits. With rates published online every business day, they will be able to see the applicable rate before placing their money with a bank. 

What bulk depositors should check from October 1 

Customers planning to place a term deposit of ₹3 crore or more can check the bank’s website for the applicable bulk deposit rate published around 10 am on the day the deposit is being booked. 

Since rates can vary depending on the category and liquidity treatment of a deposit, depositors will also need to check which category applies to them. 

Keeping a copy or screenshot of the published rate can provide a record of the rate applicable on the booking date. The rate mentioned on the final FD receipt can then be checked against the bank’s published rate. 

The revised framework therefore changes the process mainly for large fixed deposits, bringing daily disclosure and greater consistency across branches while still leaving banks room to price deposits differently where their liquidity characteristics differ.