RBI FD Rules: This is very important news for crores of customers who keep their hard-earned money in banks as fixed deposits. The Reserve Bank of India (RBI) has made a historic amendment to the rules related to FD interest rates to bring transparency in the banking system and curb arbitrary practices of banks. These new rules, announced under the ‘RBI Second Amendment Directive 2026’ , will be implemented across the country from October 1, 2026. With these rules, banks will no longer be able to give a biased measure to hidden transactions or VIP customers.
Objective of RBI
RBI had issued a draft in this regard on June 5, 2026, inviting objections and suggestions from all banks and stakeholders. After a thorough study of these suggestions, the final ordinance was issued on July 30, 2026. The main objective of this amendment is to ensure complete transparency between the interest rates decided by banks and the interest actually received by customers, and to ensure that no discrimination is made between two customers depositing the same amount on the same day. RBI FD Rules
What is ‘bulk deposit’?
At the heart of all these new rules is the ‘bulk deposit’ (large deposits). According to banking rules, FDs of Rs 3 crore or more made at a time are considered ‘bulk deposits’. Till now, big businessmen, corporate companies or trusts used to negotiate with the management of banks privately and get much higher interest rates than ordinary customers. This practice will be completely abolished from October 1. RBI FD Rules
Changes from October 1, 2026
Mandatory to publish rates by 10:10 AM every day: Now all banks will have to clearly publish the FD interest rates of that day on their official website from 10:00 AM to 10:10 PM on every working day. No bank can offer interest even 1 percent more or less than the rate published on the website. RBI FD Rules
‘One country, one bank, one interest rate’ rule: All customers who make FDs on the same day, for the same tenure and for the same amount will get the same interest rate. There will be no discrimination in rates, regardless of which branch the customer goes to, whether it is old or new. RBI FD Rules
Interest rate flexibility as per risk management: RBI has given partial relaxation to banks to fix rates of large deposits as per ‘liquidity coverage ratio’. Banks will be able to plan their finances accordingly by estimating the risk of sudden withdrawal of large amounts during emergencies. RBI FD Rules
It is mandatory for the entire banking sector to follow the rules.
These new rules are not limited to large government or private commercial banks. The RBI has clarified that the same rules will also be applicable to small finance banks, regional rural banks (RRBs), payment banks, local area banks and all urban cooperative banks, thereby bringing uniformity across the banking sector. RBI FD Rules
What is the impact on ordinary retail depositors?
This rule will not have any negative impact on the average middle class depositors whose FDs are less than Rs 3 crore. On the contrary, since the rates will be available transparently on the banks’ websites every day, it will be easier and safer for the average customer to compare the interest rates of different banks and find out where they are getting higher returns. RBI FD Rules
Important Notice and Grievance Redressal for Customers
If you are going to make an FD or bulk deposit in any bank after October 1, 2026, then before leaving home, make sure to check the ‘rate card’ on the bank’s website after 10:10 am. If a bank tries to offer a different rate than the rate on the website or violates the rules, customers can file an online complaint on RBI’s Sachet portal (sachet.rbi.org.in) or directly with the RBI Ombudsman. RBI FD Rules