Starting October 1, 2026, banks in India will have to publish their bulk deposit interest rates online every business day. The rates must be displayed by 10:00 am, with a grace period available until 10:10 am.
The move is expected to make it easier for large depositors to compare rates before placing substantial amounts with a bank. It also aims to bring greater consistency to the way bulk deposits are priced across branches.
The Reserve Bank of India (RBI) issued its final directions on July 30, 2026. The rules cover banks across India, with separate provisions applicable to commercial banks, small finance banks and other categories of banks.
What Will Change for Bulk Depositors?
For commercial banks and small finance banks, a single rupee term deposit of ₹3 crore or more is classified as a bulk deposit. Banks will have to publish the applicable rates every business day.
Comparable deposits accepted on the same date must also receive uniform treatment across branches and customers, subject to the permitted categories under the rules.
| Rule | What it means |
|---|---|
| Daily rate disclosure | Bulk deposit rates must be published by 10:00 am on every business day, with a grace period until 10:10 am. |
| Deposit threshold | A single rupee term deposit of ₹3 crore or more is considered a bulk deposit for commercial and small finance banks. |
| Same-day treatment | Comparable deposits accepted on the same date must receive uniform rates across branches and customers. |
| Online availability | Depositors can check the bank’s published bulk deposit rate before placing funds. |
The new system will mainly benefit large companies, trusts, institutions and individuals placing significant amounts in fixed or term deposits. Instead of relying only on a branch-level quote, they will have a publicly available rate to compare.
However, the change does not mean that ordinary retail FD rates will automatically increase. Most household deposits are below the ₹3 crore bulk deposit threshold.
A June 5, 2026 analysis by LoansJagat reported that fixed deposits accounted for 61.6% of total deposits in March 2026, compared with 55.2% in March 2022.
Why Could Rates Be Updated Close to 10:10 AM?
Banks have a commercial reason to wait before finalising the day’s bulk deposit rates. A senior private-sector bank executive quoted in a September 21, 2026 reference report said competitors could adjust their rates by around 5 to 10 basis points after seeing another bank’s pricing.
Bank treasury teams may consider factors such as the previous day’s rates, available liquidity and credit demand before deciding the new rate.
Banks can therefore establish an internal approval process before 10:00 am, with a designated team responsible for updating the website and communicating the approved rate to branches.
For depositors, checking the published rate before transferring a large amount can provide an additional layer of clarity. However, the interest rate alone does not determine the complete terms of a deposit. Tenure, callable or non-callable status and withdrawal conditions should also be confirmed in writing.
Why Can Bulk Deposit Rates Still Differ?
The new framework does not completely eliminate differences in bulk deposit pricing. Banks can apply different rates when deposits fall into separate run-off categories under Liquidity Coverage Ratio rules.
This allows banks to consider the possibility of deposits leaving during periods of financial stress. Deposits considered more likely to be withdrawn can be priced differently, provided the bank follows its approved policy and discloses the applicable rate.
At the same time, similar deposits accepted on the same day and falling under the same category cannot simply be given different rates because they were booked at different branches.
Depositors placing large amounts should therefore check which liquidity category applies to their deposit and whether the product is callable or non-callable.
How the Rule Developed Before October 1
The RBI released draft directions on June 5, 2026, and invited comments until June 20. After considering the feedback, the regulator issued the final directions on July 30.
RBI press release 2026-2027/781 set October 1, 2026, as the implementation date. This gave banks time to align their treasury approvals, website systems and branch-level communication.
The bulk deposit threshold had already been revised earlier. On June 7, 2024, the RBI increased the threshold for commercial banks and small finance banks from ₹2 crore to ₹3 crore with immediate effect.
The change was introduced through circular RBI/2024-25/40, reference DoR.SPE.REC.No.24/13.03.00/2024-2025.
While the 2024 amendment established which deposits would qualify as bulk deposits, the 2026 directions focus on their pricing and public disclosure.
What Should Banks and Depositors Keep in Mind?
Banks will have to coordinate their treasury teams, branches and website operations so that the same approved rate is communicated consistently. An outdated online rate or an inconsistent branch quote could create compliance concerns.
For large depositors, the new disclosure system provides a clearer basis for comparing available rates. They should consider the interest rate together with the deposit tenure, withdrawal conditions and callable status before committing funds.
The official deposit insurance framework provides coverage of up to ₹5 lakh per depositor per bank for eligible deposits, including principal and interest. This is substantially below the ₹3 crore threshold for bulk deposits, making the bank’s financial position and the depositor’s own treasury policy important considerations when placing a large sum.
FAQs
What is a bulk deposit under the October 2026 rule?
For scheduled commercial banks, excluding regional rural banks, and small finance banks, a bulk deposit is a single rupee term deposit of ₹3 crore or more. Other categories of banks may follow different thresholds under their applicable directions.
Will retail FD rates automatically increase from October 1, 2026?
No. The rule focuses on disclosure and pricing of bulk deposits. Retail FD rates will continue to be determined by individual banks based on factors such as funding requirements, loan demand, tenure and their approved rate schedules.
Can a bank branch offer a rate different from the published bulk deposit rate?
The applicable rate must follow the schedule disclosed by the bank. Comparable deposits accepted on the same date must receive uniform treatment. However, permitted liquidity-risk categories may result in different rates where the bank’s policy provides for them.
Should depositors wait until 10:10 am to book a ₹3 crore FD?
The rule requires the rate to be published by 10:00 am, with a grace period until 10:10 am. Depositors may check the day’s published rate before booking, but they should also verify the tenure, withdrawal rights, callable status and final written terms.
Why can callable and non-callable deposits have different rates?
Callable deposits allow premature withdrawal under specified conditions, while non-callable deposits restrict early access. Since non-callable deposits can provide banks with greater funding certainty, different rates may apply according to the bank’s approved policy and published schedule.
Disclaimer
This article is provided for general informational and educational purposes only. Interest rates, banking rules, deposit terms and other financial information may change and can vary depending on the bank and applicable regulations. Readers should verify the latest details directly with the relevant bank or the RBI and seek advice from a qualified financial professional before making decisions involving large deposits or other financial matters.