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. 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. From October 1, banks will have to publicly disclose the applicable rate every business day. 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. 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.
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. 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. Yes. The new rules do not mean that every bulk FD at a bank must carry the same rate in every situation. 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. They should not rely only on a rate quoted verbally by a branch or relationship manager.
