Large fixed deposit (FD) investors will get greater transparency on interest rates from October 1, 2026. Under revised Reserve Bank of India (RBI) rules, banks will have to publish their bulk deposit interest rates on their websites by 10 am on every business day.
Bulk FD rates to be disclosed online
The changes follow the RBI’s July 30, 2026 amendment to its directions on interest rates on deposits. The rules will apply to commercial banks and other specified categories of banks.
From October 1, banks will have to:
- Publish bulk deposit rates on their websites by 10 am every business day, with a 10-minute grace period until 10.10 am.
- Pay the same interest rate that was disclosed in advance.
- Offer the same rate for similar deposits accepted on the same day across branches and customers.
What is a bulk deposit?
Under the RBI framework, bulk deposits are large term deposits, generally starting at ₹3 crore for scheduled commercial banks. Banks may currently negotiate interest rates for such deposits based on their size and other characteristics.
The new rules do not prevent banks from pricing bulk deposits differently. Instead, they require banks to disclose the applicable rate in advance and apply it consistently to similar deposits.
Same rate across branches
For example, if a customer books a large FD on a Tuesday, the interest rate should match the rate published by the bank on its website that morning. Another branch should not offer a different rate for a similar deposit accepted on the same day.
This will allow large depositors to check the applicable rate online before making a deposit instead of relying only on verbal quotations from bank officials.
Can banks still offer different rates?
Yes. The requirement for uniformity applies to similar deposits, while the RBI has allowed certain exceptions.
Banks can offer differential rates on bulk deposits based on the run-off rates applicable under the Liquidity Coverage Ratio (LCR) framework. The same flexibility applies to eligible rupee deposits held by non-residents.
The LCR framework requires banks to maintain enough high-quality liquid assets to meet expected cash outflows over a specified period. Different types of deposits and wholesale funding may carry different assumptions about how quickly funds could be withdrawn.
What about regular FD investors?
The new bulk-deposit disclosure requirement will not change the way most regular FD investors book deposits.
Customers investing ₹1 lakh, ₹5 lakh or ₹25 lakh in an FD will not need to check the 10 am bulk deposit rate. However, the broader requirement that banks disclose rates in advance and honour the applicable rate continues to be relevant to depositors.
Checklist for bulk FD investors
Large depositors should consider the following steps:
- Check the bank’s website for the rate published around 10 am on the day of booking.
- Compare rates offered by different banks instead of relying only on verbal quotations.
- Check whether the rate varies based on the deposit category or liquidity treatment.
- Save a copy or screenshot of the published rate.
- Ensure that the FD receipt reflects the same rate.
The RBI’s objective is to improve transparency in the pricing of bulk deposits while allowing banks to continue competing for large deposits and managing their liquidity requirements.