October 1 FD Rule Change: What Changes For Investors Putting Rs 3 Crore Or More

Investors planning to put Rs 3 crore or more into a fixed deposit (FD) will have a new way to check the applicable interest rate before booking the deposit from October 1, 2026.

The Reserve Bank of India (RBI) has revised the framework for bulk deposits. Banks will have to publish the applicable rates on their websites on every working day. The information must be available by 10 am, with a 10-minute window for any revision.

The change applies mainly to large-value deposits and does not alter the process for most regular retail FDs.

Banks To Publish Bulk FD Rates Every Day

Scheduled commercial banks generally treat term deposits of Rs 3 crore and above as bulk deposits. From October 1, a person planning to put Rs 4 crore in an FD can first check the bank's website for the applicable interest rate.

The bank will have to follow the rate it has published for the relevant deposit category. This gives customers information about the rate before they put their money into the FD. For individuals comparing different banks, the published rates can also help them check the rates available for large deposits on the same day.

Banks Can Have Different Rates For Bulk Deposits

The new rules do not mean that every bulk FD at a bank will have the same interest rate. Banks can offer different rates when deposits have different liquidity features under the Liquidity Coverage Ratio (LCR) framework. The type and terms of the deposit can therefore affect the rate.

This means a large depositor should check both the interest rate and the conditions attached to the deposit before booking it.

Regular FD Customers See Little Change

The new rules mainly apply to bulk deposits. People investing smaller amounts in regular FDs do not need to check these daily bulk deposit rates.

For example, someone putting Rs 2 lakh or Rs 15 lakh in a regular FD will continue to get the rate applicable to that particular FD product. The Rs 3 crore limit is the key point for customers looking at the October 1 rule change.

Large Depositors Can Keep A Record Of The Rate

People planning to make a bulk FD can check the bank's website on the day they plan to book the deposit. They can also save a screenshot or a copy of the published rate. After booking the FD, customers can check the interest rate mentioned in the FD receipt and other documents.

They should also check the deposit amount, tenure and other terms before transferring the money.