New Reserve Bank of India rules for bulk fixed deposits will take effect on October 1, 2026. The changes focus on how banks set and publish interest rates
for large deposits, rather than changing the terms of ordinary retail fixed deposits.
A bulk deposit is generally a single rupee term deposit of Rs 3 crore or more for commercial banks and small finance banks. Customers holding smaller fixed deposits should not assume that their existing rates or deposit terms will automatically change on October 1.
What changes for bulk fixed deposits
Banks will have to publish the interest rates applicable to bulk deposits on their websites every working day. Reports on the revised directions say the rates must be posted at 10 am, with a grace period extending to 10:10 am.
Deposits of the same size and characteristics booked on the same day should receive the same rate across a bank’s branches. This is intended to reduce opaque branch-level pricing and give large depositors a clearer reference before committing funds.
The RBI has also allowed banks to offer different rates for bulk deposits based on their liquidity characteristics under the Liquidity Coverage Ratio framework. Any difference must relate to the permitted liquidity treatment, not arbitrary discrimination between similarly placed depositors.
What customers should check
The immediate impact is mainly on companies, institutions and wealthy depositors placing Rs 3 crore or more in a single fixed deposit. Regular retail depositors remain outside the central change described in the revised bulk-deposit rules.
Before booking or renewing a large fixed deposit, customers should check the bank’s official website after the daily rate has been published. They should compare the tenure, callable or non-callable conditions, premature withdrawal rules and applicable penalties.
Similar disclosure and pricing principles apply to specified NRI rupee deposits. Customers should confirm the exact product terms with the bank because eligibility and withdrawal conditions can vary.
