Mumbai: Fixed deposit (FD) customers should take note of new banking rules coming into effect from October 1, 2026. The Reserve Bank of India (RBI) has revised certain deposit-related requirements, with the changes primarily concerning bulk deposits.
The new framework is particularly relevant for customers placing large sums with banks. It is also aimed at improving transparency around deposit interest rates and giving banks greater flexibility in pricing large deposits.
What Is Changing From October 1?
One of the key changes concerns bulk deposits. These are large-value deposits of Rs 3 crore or more.
Under the revised framework, banks will have greater flexibility in determining interest rates applicable to such deposits, depending on their funding requirements and prevailing market conditions.
This means customers placing large deposits could see different rates being offered across banks, even for similar maturities.
Banks Must Display FD Rates
From October 1, banks will also be required to prominently disclose deposit interest rates on their websites, including rates applicable to bulk deposits.
Bulk deposit rates will have to be updated every working day by 10 am. Banks will be given an additional 10-minute window, meaning the information must be available by 10:10 am at the latest.
The move is expected to make it easier for depositors to compare rates before committing large sums.
Will Your FD Interest Rate Change?
For most retail depositors, the new rules do not automatically mean a change in existing FD interest rates.
The changes are mainly focused on bulk deposits. Therefore, customers holding regular FDs worth thousands or a few lakh rupees may not see their interest rates change solely because of the new framework.
However, FD rates are determined by individual banks based on liquidity requirements, market interest rates and other factors.
As a result, rates can continue to vary considerably between banks and across different tenures.
Large depositors, in particular, could benefit from comparing bulk FD rates across banks before investing, as institutions may offer different rates depending on their funding needs.
