New FD Rules From October 1, 2026 will change how banks disclose and offer interest rates on fixed deposits.
The revised Reserve Bank of India framework focuses on greater transparency and more consistent rates for depositors.
New FD Rules From October 1, 2026
From October 1, banks will have to disclose their applicable deposit interest rates in advance on their websites.
The rate offered to customers should follow the bank’s approved and publicly disclosed rate schedule.
Banks will also be required to maintain uniform interest rates across branches for deposits of similar amounts accepted on the same date and under the same pricing category.
FD Interest Rates Must Be Disclosed Clearly
The revised rules cover commercial banks, small finance banks, regional rural banks, payments banks, local area banks and urban cooperative banks.
For bulk deposits, banks will have to publish the applicable interest rates on their websites at 10 am on every business day, with a grace period of up to 10 minutes.
The changes are designed to give customers an official way to verify the rate before booking an FD instead of depending only on a rate quoted verbally at a branch or through another banking channel.
What Changes for Senior Citizens and Large Deposits
Senior citizens can continue to receive additional interest rates where banks offer such benefits under their approved deposit pricing policies.
These rates and eligible customer categories will need to be disclosed and applied consistently.
Banks will also retain flexibility to offer differential rates on eligible bulk deposits.
The revised framework allows banks to consider factors linked to liquidity and deposit stability while pricing such deposits.
Will FD Interest Rates Increase From October 1?
The New FD Rules From October 1 do not mean that banks must increase their fixed deposit interest rates.
Banks will continue to determine rates based on factors such as liquidity, deposit growth, credit demand, competition and the broader interest-rate environment.
For depositors, the main change is greater clarity about the rate applicable to an FD. Customers should check the bank’s latest published rate schedule before opening or renewing a fixed deposit.
