A ₹3 crore FD now has a rate card published every morning
Since 1 October 2026, banks publish their bulk deposit rates by 10:10 am each business day. They may also price a ₹3 crore FD by who places it and whether it can be broken.
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RBI changed how banks price large fixed deposits on 1 October 2026. The rules sit in an amendment issued on 30 July 2026.
They matter to anyone who places ₹3 crore or more in one FD, in their own name or through a family trust, LLP or company.
1. What counts as a bulk deposit
RBI's deposit Directions define a bulk deposit as a "single Rupee term deposit" of ₹3 crore or more. The line was ₹2 crore until June 2024.
The test is per deposit. Two FDs of ₹2 crore each are not bulk deposits, even at the same bank on the same day.
Bulk deposits are the only FDs on which a bank may pay a higher or lower rate because of size. Two kinds of FD are excluded from that size-based pricing:
- tax-saving FDs under the Bank Term Deposit Scheme, 2006
- deposits under the Capital Gains Accounts Scheme, 1988
2. A rate card by 10:10 am
The amended paragraph 7(3) says bulk rates "shall be disclosed on the bank's website at 10:00 am" on each business day. A 10-minute grace period runs to 10:10 am.
The bank must pay "strictly as per the schedule" it disclosed in advance.
Paragraph 7(2) now names bulk deposits in the uniformity rule. Similar deposits accepted on the same date get the same rate at every branch and for every customer.
Paragraph 7(5), which was already in force, says rates "shall not be subject to negotiation" between depositor and bank.
So the rate on a ₹5 crore FD booked on a Tuesday is the rate on that bank's card that morning. The rules leave no room for a private quote outside it.
3. Pricing by how fast money can leave
The new paragraph 10(4) lets a bank offer different bulk rates by "considering the differential run-off rate" under the Liquidity Coverage Ratio framework. NRE and NRO term deposits get the same freedom under paragraph 27(3)(iv).
The Liquidity Coverage Ratio, or LCR, is RBI's test of whether a bank holds enough easy-to-sell assets to survive 30 days of stress. A run-off rate is the share of a deposit the bank must assume will be withdrawn in those 30 days.
Under RBI's Asset Liability Management Directions, the run-off rate depends on who the depositor is:
| Depositor | Run-off rate a bank assumes | Paragraph |
|---|---|---|
| Individual, account with net or mobile banking, insured slice | 7.5% | 163, 168 |
| Individual, account with net or mobile banking, the rest | 12.5% | 164, 168 |
| Individual, FD with over 30 days left and no right to withdraw early | Left out of the calculation | 162 |
| Trust, partnership, LLP, proprietorship or company outside finance | 40% | 169(1) |
Every deposit placed by a natural person counts as a retail deposit, whatever its size.
The insured slice counts as stable only in a transactional or relationship account. A loan, locker or demat at the same bank makes it a relationship account. The 7.5% and 12.5% figures include the extra 2.5 points RBI added from 1 April 2026 for accounts with internet and mobile banking.
Some small business deposits of up to ₹7.5 crore can get retail treatment instead of 40%.
4. The FD you cannot break
Banks may offer FDs without a premature withdrawal option. For individuals, the facility is compulsory only on deposits of ₹1 crore and below, under paragraph 10(3).
So a ₹3 crore FD in an individual's name can be non-callable. While more than 30 days remain on it, the bank can leave it out of its 30-day outflow estimate.
Paragraph 162 adds a condition. If a bank lets such depositors withdraw early anyway, or waives the penalty, the whole category is treated as demand deposits.
An illustration
Take three hypothetical ₹3 crore FDs at one bank on the same morning, with net banking on every account.
- In an individual's name, breakable: the bank assumes up to ₹37.5 lakh could leave in 30 days.
- Through the family's LLP: the bank assumes ₹1.2 crore could leave.
- In an individual's name, non-callable, with over 30 days left: the bank assumes nothing leaves.
The arithmetic uses the less stable rate for the individual and ignores any insured slice. The rule allows a bank to price these three FDs differently. It does not require it, and the gap between rates is each bank's own choice.
What the rules leave open
RBI has not set any bulk rate or any gap between depositor types. Each bank decides, and the 10 am card is where it shows.
The Directions do not mention HUFs in the LCR categories, so how a bank classes an HUF deposit is its own call.
Small finance banks received their own amendment to the same rules on the same day.
Questions
- What is a bulk deposit in India?
- For commercial banks and small finance banks, a single rupee term deposit of ₹3 crore or more. RBI set this limit on 7 June 2024.
- When do banks publish bulk deposit rates?
- From 1 October 2026, on their website at 10:00 am each business day, with a grace period up to 10:10 am.
- Can I negotiate a bulk FD rate with my bank?
- No. RBI's Directions say deposit rates shall not be subject to negotiation and must match the schedule disclosed in advance.
- Can a bank pay a company a different bulk rate from an individual?
- Yes. From 1 October 2026, banks may price bulk deposits by the LCR run-off rate, which is 40% for non-financial companies, trusts and LLPs and 7.5% to 12.5% for individuals with net banking.
- Can a ₹3 crore FD be non-callable?
- Yes. Banks may offer FDs with no premature withdrawal; for individuals the option is compulsory only up to ₹1 crore.
- What interest do I get if I break an FD early?
- Interest at the rate that applied to the amount and the period the deposit stayed, not the contracted rate, under paragraph 11. Each bank's board-approved policy sets any penalty.
Sources
- RBI, Commercial Banks – Interest Rate on Deposits Second Amendment Directions, 2026 (30 Jul 2026, in force 1 Oct 2026)
- RBI, Commercial Banks – Interest Rate on Deposits Directions, 2025, as updated 25 Aug 2026, paragraphs 3, 7, 10, 11 and 27
- RBI, Commercial Banks – Asset Liability Management Directions, 2025, paragraphs 162 to 169
- RBI, amendment to the bulk deposit definition, ₹2 crore to ₹3 crore (7 Jun 2024)
- RBI, draft Interest Rate on Deposits Amendment Directions, 2026 (5 Jun 2026)
- RBI, Small Finance Banks – Interest Rate on Deposits Second Amendment Directions, 2026 (30 Jul 2026)
Compound is analysis, not investment advice. Reva Money is not a SEBI-registered investment adviser.
