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RBI's new deposit rate rules kick in from 1 October: 3 changes FD investors should know

image Sangeeta Ojha
By Sangeeta Ojha

3 min read | Updated on September 29, 2026, 08:57 IST

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SUMMARY

RBI’s new deposit rate rules take effect from October 1, 2026. Check three key changes on FD rates, bulk deposits and rate disclosures.

RBI new deposit rates October 1

The amendments issued on July 30, 2026 contain revised provisions relating to deposit interest rates, disclosure of rates and bulk deposits.

The Reserve Bank of India (RBI) has revised its directions on interest rates on deposits, with the changes coming into effect from October 1, 2026.

The central bank has issued separate Interest Rate on Deposits Amendment Directions, 2026 for different categories of banks, including commercial banks, small finance banks, regional rural banks, local area banks, payments banks and urban co-operative banks.
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The amendments issued on July 30, 2026 contain revised provisions relating to deposit interest rates, disclosure of rates and bulk deposits.

Here are three changes under the revised directions

1. Deposit interest rates must be disclosed in advance

The RBI has specified that: “Interest rates payable on deposits, including bulk deposits, shall be strictly as per the schedule of interest rates disclosed in advance on the bank’s website.”

For bulk deposits, the RBI has prescribed a specific disclosure timing. It said the interest rates payable on bulk deposits must be disclosed on the bank’s website at 10:00 am, with a grace time of 10 minutes, latest by 10:10 am, on each business day.

2. Interest rates must be uniform across branches and customers

The revised directions state: “The interest rates offered on deposits, including bulk deposits, shall be uniform across all branches and for all customers.”

The RBI has also specified that there shall be no discrimination in the interest paid on deposits between one deposit and another deposit of a similar amount accepted on the same date at any of the bank’s offices.

3. Banks can offer differential rates on bulk deposits under the LCR framework

The RBI has inserted a new provision under domestic rupee deposits relating to applicable run-off rates under the Liquidity Coverage Ratio (LCR) framework.

It states that a bank shall have the freedom to offer a differential interest rate on bulk deposits by considering the differential run-off rate applicable to deposits or unsecured wholesale funding under the LCR framework specified in the RBI’s directions on asset-liability management.

What about non-resident deposits?

The [RBI]https://upstox.com/news/personal-finance/latest-updates/11-financial-changes-coming-in-october-2026-rbi-mpc-sbi-atm-rules-fd-rules-lpg-kyc-upi-mdr-small-savings-itr-deadline-and-more/article-200981/) has made a corresponding provision for Rupee deposits of non-residents, allowing banks to consider the applicable LCR run-off rate while offering differential interest rates on bulk deposits.

Rules come into effect from October 1

The RBI said the rules shall come into effect from October 1, 2026.

The notification was issued on July 30, 2026, under the powers conferred by Section 35A of the Banking Regulation Act, 1949, and other enabling provisions.

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About The Author

image Sangeeta Ojha
Sangeeta Ojha is a business and finance journalist with experience across leading media platforms like Mint and India Today. She has built a reputation for covering a wide range of personal finance topics, including income tax, mutual funds, insurance, savings and investing.

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