The record
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- The Reserve Bank of India has issued revised rules for fixed deposits, effective October 1, 2026, under the Interest Rate on Deposits Directions, 2026.
- Banks must offer the same interest rate on similar deposits (same amount and tenure) received on the same day across all their branches, ending branch-wise differences and negotiation.
- Banks will still have flexibility to set different rates for bulk deposits of ₹2 crore and above based on the liquidity coverage ratio framework.
- Banks must also publish FD rates online in advance and update bulk deposit rates daily between 10:00 and 10:10 on their websites; existing FDs continue at agreed rates until maturity, with the new rules applying only to fresh or renewed FDs after October 1.
What to watch next
- Banks publishing their updated FD rate policies and disclosures ahead of the October 1, 2026 rollout
- How bulk deposit (₹2 crore and above) rates are quoted daily under the new 10:00–10:10 website update requirement
- Whether rates for fresh or renewed FDs change once the uniform pricing rule takes effect
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Indian-language1
All filed from India
Named India · Banks · Reserve Bank of India
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