INCOME TAX27 Sept 2026
FD rules change from 1 October: What depositors should know about bulk deposit rates | Mint
From 1 October 2026, RBI's new bulk deposit rules change how banks disclose and apply interest rates. Banks must publish bulk deposit rates on their websites by 10 am each working day, and cannot charge different rates at different branches for similar deposits booked the same day. This affects large depositors, not regular retail FDs. Check the published rate before booking.
Key Statutory Highlights
- Banks must publish their bulk deposit interest rates on their official websites by 10 am every working day, with a grace period up to 10:10 am.
- For scheduled commercial banks, a bulk deposit generally means a single rupee term deposit of Rs 3 crore and above, though the limit differs for some bank types.
- Banks cannot offer different interest rates for similar bulk deposits only because they were booked at different branches.
Actionable Advice for Taxpayers / Founders:If you plan to book a large fixed deposit, check the bank's published bulk deposit rate for that date and ask how the rate applies to your deposit before you commit. Treat this as general information, not a promise of any specific rate.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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