Banks will have to publish their deposit rates by 10am every working day
From 1 October, RBI's revised deposit directions require daily published rates and uniform pricing across branches. The rates themselves do not change.
Krish Dalal
What this means for you
If you have a fixed deposit maturing after 1 October, compare across at least three banks before you let it auto-renew. Auto-renewal at whatever your existing bank happens to be offering is the single most expensive default in Indian saving, and from October the comparison takes minutes rather than phone calls.
Compare what different rates actually payOpens with these numbers already filled in. Change any of them to match your own.
RBI's revised directions on deposit interest rates take effect on 1 October 2026. Banks must publish the rates applicable that day by 10:00 am each business day, and pricing has to be uniform across branches rather than negotiable depending on which one you walk into.
This is a disclosure rule, not a rate cut or a rate rise. Nothing about what your existing fixed deposit earns changes on 1 October. What changes is your ability to see, before you commit money, exactly what is on offer and to know that the number is the same everywhere.
The practical value is in comparison. Deposit rates between banks differ by more than most savers assume, particularly on tenures in the one to three year band and for senior citizens, and the difference has until now been irritating to establish because the published card rate and the rate actually quoted at a branch were not always the same thing.
Sources
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