RBI requires banks publish ₹3cr bulk FD rates 10am workdays
Starting October 1, the RBI is rolling out new rules for big fixed deposits: think ₹3 crore or more.
Now, banks have to post their bulk FD interest rates online by 10am every working day.
The idea? To make things clearer and fairer for anyone putting down serious cash.
Experts: disclosures simplify comparisons, check terms
Experts say this move will help people compare rates easily and avoid confusion during negotiations.
Tanu Gupta, Engagement Manager at Scripbox, feels these disclosures make decision-making simpler, while Stuti Bubna, Financial Coach, Partner, Finstrong Wealth Pvt Ltd, points out that standardizing information means fewer surprises.
If you're investing a large sum, don't just look at the rates: experts recommend checking the deposit period and withdrawal terms too before locking in your money.