New Delhi: The Reserve Bank of India (RBI) frequently introduces changes that directly impact account holders. If you are planning to open a Fixed Deposit (FD) with a bank, there is no need to worry; the RBI has announced significant changes to the rules governing FDs in Small Finance Banks.
The revised rules announced by the RBI will come into effect on October 1, 2026. The central bank states that the objective of these changes is to offer better interest rates to customers and ensure equitable treatment for all. Additionally, small banks will be required to update the relevant information on their websites daily by 10:00 AM.
Regarding the interest earned on large FDs: banks will be granted a grace period of 10 minutes in the event of any delay in updating the information. According to RBI guidelines, a single FD of ₹3 crore or more is classified as a ‘bulk deposit ‘.
View Interest Rate Lists Before Opening an FD
The RBI has clarified that banks must now upload their complete interest rate schedules to their official websites before accepting FDs. Customers can check these lists before investing. Detailed information regarding the interest rates applicable to specific investment amounts will be available there.
Banks will then approve FDs at the rates displayed on their websites. This will make it much easier for customers to compare interest rates across different banks. Another major change is that all customers opening FDs of the same amount on the same day will receive the same interest rate.
Banks cannot offer higher interest rates to one customer and lower rates to another. This rule will apply across all branches to ensure uniform treatment for every customer.
Rule Not Applicable to Bulk FDs
This RBI rule will not apply to bulk FDs. Banks may offer varying interest rates on bulk FDs; however, they must establish the rules beforehand and publish them. This distinction can be made based on factors such as the strength of the deposits and the bank’s cash requirements.
This rule will apply to bulk deposits made by NRI customers. Furthermore, according to the RBI, these new regulations will make FD-related arrangements at small finance banks more transparent, fair, and customer-centric.
A Great Opportunity to Earn Money via FDs
It is worth noting that opening a fixed deposit (FD) with a bank is an excellent way to earn money. Many people fulfil their dream of accumulating a substantial sum by investing in FDs across various banks—a process that is entirely hassle-free. If you, too, are looking to make your money work for you, you can secure impressive returns.
