Mumbai, Jul 30 (PTI) The RBI on Thursday said banks will have to offer uniform interest rates on deposits across all branches, without discrimination for similar amounts deposited by customers on the same day.

Also, the interest rates payable on deposits must be strictly as per the schedule of interest rates disclosed in advance on websites of respective banks, according to the Reserve Bank's revised instructions on interest rates on Rupee bulk deposits and disclosure of interest rates on deposits.

"The interest rates offered on deposits, including bulk deposits, shall be uniform across all branches and for all customers and there shall be no discrimination in the matter of interest paid on the deposits, between one deposit and another deposit of similar amount, accepted on the same date, at any of its offices," it said.

The central bank also said interest rates payable on bulk deposits should be disclosed on websites of banks at 10:00 am with a grace time of 10 minutes, at the latest by 10:10 am, on each business day.

The RBI also said banks will have the freedom to offer a differential interest rate on bulk deposits, by considering the differential run-off rate applicable to deposits or unsecured wholesale funding under the Liquidity Coverage Ratio (LCR) framework.

The revised instructions, effected through 'Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Second Amendment Directions, 2026', will come into force from October 1, 2026.

The central bank said the directions have been issued after considering stakeholders' feedback on draft norms issued in June. PTI NKD DRR

Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits. Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.