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Fixed deposits above ₹1 crore account for nearly half of bank term deposits: RBI
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4 min read | Updated on June 04, 2026, 16:28 IST
SUMMARY
RBI data shows deposits above Rs 1 crore accounted for 46.3% of total term deposits in March 2026, as savers increasingly shifted from savings accounts to fixed deposits.
Medium-term deposits have emerged as the preferred choice among savers, shows RBI data.
Fixed deposits continued to attract Indian savers in FY26, with large-ticket deposits emerging as a major contributor to banks' deposit base, according to the Reserve Bank of India’s latest Annual Basic Statistical Return (BSR-2) on Deposits with Scheduled Commercial Banks for March 2026.
Deposits with scheduled commercial banks grew 11.5% year-on-year as of March 2026, faster than the 10.6% growth recorded a year earlier.
This highlights a clear concentration of bank fixed deposits in large-ticket investments.
The data also points to a clear shift in savings behaviour. More customers chose to lock their money into fixed deposits rather than leave it in savings accounts.
The RBI noted that "the composition of aggregate deposits underwent a structural shift, characterised by a decline in the share of savings deposits from 34.6 per cent in March 2022 to 28.7 per cent in March 2026. The proportion of term deposits ascended from 55.2 per cent to 61.6 per cent during the said period."
Medium-term deposits have emerged as the preferred choice among savers. Many depositors appear to have locked in rates for one to three years amid uncertainty over the future interest-rate cycle.
According to the central bank, "the share of term deposits with an original maturity of one to three years rose steadily to 69.8 per cent in March 2026 from 50.4 per cent in March 2022, whereas the proportion of term deposits of maturity up to one year came down to 8.8 per cent from 16.7 per cent during the same period."
The RBI said that "the share of term deposits bearing 'less than 7 per cent' interest rate surged to 61.8 per cent in March 2026, a sharp rise from 27.3 per cent recorded in the previous year."
Households continued to be the largest contributor to banks' deposit base, accounting for 59.3% of total deposits. Meanwhile, deposits from non-financial companies and financial corporations increased their share during FY26.
| Indicator | Latest Data (March 2026) | Previous Data | Trend |
|---|---|---|---|
| Deposit Growth (YoY) | 11.5% | 10.6% (March 2025) | ↑ Accelerated |
| Share of Savings Deposits | 28.7% | 34.6% (March 2022) | ↓ Declined |
| Share of Term Deposits | 61.6% | 55.2% (March 2022) | ↑ Increased |
| Public Sector Banks' Share in Incremental Deposits | 50.8% | — | Largest contributor |
| Private Sector Banks' Share in Incremental Deposits | 38.6% | — | Second-largest contributor |
| Regional Rural Banks' Share in Deposits | 2.9% | 3.2% (March 2022) | ↓ Moderated |
| Household Sector's Share in Total Deposits | 59.3% | — | Remains largest |
| Non-Financial Sector's Share in Deposits | 18.5% | 17.7% (March 2025) | ↑ Increased |
| Financial Corporations' Share in Deposits | 7.8% | 6.8% (March 2025) | ↑ Increased |
| Term Deposits Above ₹1 Crore | 46.3% of total term deposits | — | Dominant segment |
| Term Deposits Above ₹5 Crore | 34.8% of total term deposits | — | Major contributor |
| Term Deposits Up to ₹5 Lakh | 17.8% of total term deposits | — | Smaller share |
| Term Deposits with 1-3 Year Maturity | 69.8% | 50.4% (March 2022) | ↑ Strong increase |
| Term Deposits with Up to 1-Year Maturity | 8.8% | 16.7% (March 2022) | ↓ Declined |
| Term Deposits Earning Below 7% Interest | 61.8% | 27.3% (March 2025) | ↑ Sharp increase |
| Senior Citizens' Share in Deposits | 20.0% | 19.8%-20.2% over last 4 years | Stable |
The latest RBI data highlights how fixed deposits continue to remain a preferred avenue for parking savings.
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