RBI Changes Deposit Interest Rate Rules from Oct 1, 2026

RBI has amended deposit interest rate directions for banks, effective October 1, 2026, giving banks more flexibility on bulk deposit pricing and standardising how rates are disclosed.

Here's what happened: RBI has finalised amendments to its Interest Rate on Deposits Directions, applicable across Commercial Banks, Small Finance Banks, Regional Rural Banks, Payment Banks, Local Area Banks, and Urban Co-operative Banks — effective October 1, 2026.. The amended rules give banks greater flexibility in how they price Rupee bulk deposits (large-value deposits, typically placed by businesses or high-net-worth individuals).. The amendments also require uniform disclosure of deposit interest rates across all covered bank types, so depositors can more easily compare rates.. These directions were first issued in draft form on June 5, 2026, public feedback was collected until June 20, 2026, and the final rules incorporate modifications based on that feedback..

What you should do: If your existing fixed deposit matures on or after October 1, 2026, check your bank's revised FD rate card before renewing — rates or rate-disclosure formats may have changed under the new directions.. When comparing FD rates across banks from October 2026 onwards, look for the standardised rate disclosure format that all covered banks are now required to use — this makes like-for-like comparison easier.. If you feel your bank is not disclosing deposit interest rates clearly or uniformly after October 1, 2026, you can raise a complaint via the RBI CMS portal at sachet.rbi.org.in or through the RBI Ombudsman..

The rule changes apply to depositors across a wide range of institutions — commercial banks, small finance banks, regional rural banks, payment banks, local area banks, and urban co-operative banks. If you hold a fixed deposit or savings account at any of these, your bank's deposit rates and how they are advertised to you may change from October 1, 2026. The bulk deposit flexibility clause is most relevant to large depositors; however, the standardised disclosure requirement benefits all retail depositors who compare FD rates across banks.

For complaints against banks or NBFCs, our RBI complaint guide explains the free RB-IOS 2026 route.