RBI New FD Rules; Now if a customer makes an FD of the same amount and for the same time in different branches of the same bank on the same day, then the same interest rate will be applicable at both the places. No branch of the bank will be able to offer a different interest rate to the customer through separate negotiation or on any other basis.
Uniform Interest Rate October: The Reserve Bank of India (RBI) has changed the rules related to FD and Bulk Deposit. The purpose of the new rules is to increase transparency in interest rates for bank customers. These rules will be applicable to commercial banks, small finance banks, regional rural banks (RRB), local area banks, payments banks and urban co-operative banks.
FD rate will be the same
Now if a customer makes an FD of the same amount and for the same time in different branches of the same bank on the same day, then the same interest rate will be applicable at both the places. No branch of the bank will be able to offer a different interest rate to the customer through separate negotiation or on any other basis. This will make it easier for customers to get information and compare interest rates before making FD.
FD rates will be available in advance on the bank’s website.
Under the new rules, banks will have to make information about their FD interest rates available in advance on the official website. This means that the customer will not have to depend only on the bank branch to know the FD rate. The interest rates given on the website will be the primary means for customers to confirm the rate.
If you have made an FD before October 1, 2026, then the already fixed interest rate on that FD will remain applicable till the completion of its tenure. The existing FD interest rate will not change automatically due to the new rules. Also, this change by RBI does not mean that the FD rates of banks will directly increase or decrease. Banks will decide their rates based on market conditions and cost of funds.
New rule for Bulk Deposit
RBI has kept deposits of Rs 3 crore or more in the category of Bulk Deposit for scheduled commercial banks and small finance banks. For such large deposits, banks will have to update their interest rates on their website daily. Banks will have to release Bulk Deposit rates on their website by 10 am. For this, a grace period of 10 minutes has also been given, that is, rates can be uploaded till maximum 10:10 pm.