Fixed deposit investors will see changes in the way banks disclose and apply deposit interest rates from October 1, 2026. The Reserve Bank of India (RBI) has revised its directions to bring greater uniformity across bank branches and improve transparency around deposit rates.
The new rules do not mean that FD interest rates will automatically increase or decrease from October 1. Banks will continue to determine their rates based on their own deposit and market conditions.
Same Deposit Rates Across Bank Branches
Under the revised framework, banks will have to maintain uniform interest rates across their branches and for customers for deposits of similar amounts accepted on the same date. This is intended to prevent different rates being offered for comparable deposits at different branches of the same bank.
Banks must also follow the interest-rate schedule disclosed on their official websites in advance. This means customers can check the applicable rates before opening an FD rather than relying only on information provided at a particular branch.
New Rules for FD Deposits of ₹3 Crore and Above
The revised framework also changes the way banks handle bulk deposits of ₹3 crore or more. Banks will be required to publish the applicable interest rates for these deposits on their websites at 10:00 am on each business day, with a 10-minute grace period, making the latest disclosure time 10:10 am.
At the same time, banks will have some flexibility to offer different interest rates on bulk deposits based on the applicable run-off rates under the Liquidity Coverage Ratio (LCR) framework.
What Happens to Existing FDs?
The revised directions take effect from October 1, 2026. They do not mean that an FD already booked will automatically receive a new interest rate from that date. Existing deposits will continue according to their applicable terms.
For regular FD investors, the immediate impact is expected to be limited because the major new disclosure provisions focus on bulk deposits of ₹3 crore and above. However, the requirement for banks to follow their disclosed interest-rate schedules and maintain uniformity across branches also applies more broadly to deposit rates.
The revised directions cover commercial banks as well as small finance banks, regional rural banks, payment banks, local area banks and urban cooperative banks.
Disclaimer: This article is intended for general informational purposes and is based on RBI directions and publicly available information. FD rates, bank policies and deposit terms may vary between institutions and can change over time. Customers should check the concerned bank’s official website and the latest RBI guidelines before making any deposit decision.