The Reserve Bank of India (RBI) has issued new rules related to interest rates on Rupee bulk deposits and the disclosure of deposit interest rates by banks. These new rules will come into effect from October 1, 2026. The new rules are as follows:
Banks Must Publish Interest Rates on Their Websites
Under the revised rules, banks must pay interest on deposits, including bulk deposits, strictly according to the interest rate schedule published on their official websites. For bulk deposits, banks must upload the applicable interest rates on their websites at 10:00 AM every business day. A grace period of 10 minutes has been provided, meaning the rates must be published no later than 10:10 AM.
Uniform Interest Rates Across All Branches
The RBI has also directed that the interest rates offered on deposits, including bulk deposits, must be uniform across all branches of a bank. Banks should not discriminate between customers by offering different interest rates for deposits of the same amount accepted on the same day at different branches.
Flexibility for Domestic Bulk Deposits
The amendment allows banks to offer different interest rates on bulk deposits based on the Liquidity Coverage Ratio (LCR) framework. Banks can consider the different run-off rates applicable to deposits or unsecured wholesale funding while deciding the interest rates. This flexibility must be in line with the Reserve Bank of India (Commercial Banks – Asset Liability Management) Directions, 2025.
Similar Provision for Non-Resident Rupee Deposits
The RBI has introduced a similar provision for Rupee deposits of Non-Residents. Banks will be allowed to offer differential interest rates on bulk deposits after considering the applicable run-off rates under the Liquidity Coverage Ratio framework, as specified in the Asset Liability Management Directions, 2025.
Click here to download RBI Circular
