{"id":345670,"date":"2025-04-12T12:00:50","date_gmt":"2025-04-12T06:30:50","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=345670"},"modified":"2025-04-12T09:40:57","modified_gmt":"2025-04-12T04:10:57","slug":"rbi-notifies-directions-on-interest-rate-on-deposits-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/04\/12\/rbi-notifies-directions-on-interest-rate-on-deposits-legal-news\/","title":{"rendered":"RBI notifies Directions on Interest rate to be on paid on Deposits"},"content":{"rendered":"
\n

On 1-4-2025, the Reserve Bank of India<\/span> notified the Reserve Bank of India (Interest Rate on Deposits) Directions, 2025<\/span> providing a framework for banks to follow while formulating their policies on Interest Rates on Deposits. The provisions came into force on 1-4-2025.<\/p>\n

Key Points:<\/h3>\n
    \n
  1. \n

    The provisions of these directions are applicable on all banks authorised to operate in India.<\/p>\n

    Exception:<\/span> Foreign branches of Indian banks.<\/p>\n<\/li>\n

  2. \n

    Interest Rate Framework:<\/p>\n

      \n
    • \n

      Banks will have to pay interest on deposits, other than current account deposits, which have been accepted by them in their domestic:<\/p>\n

        \n
      • \n

        Ordinary Non-Resident account (‘NRO’);<\/span><\/p>\n<\/li>\n

      • \n

        Non-Resident (External) Account (‘NRE’)<\/span>;<\/p>\n<\/li>\n

      • \n

        Foreign Currency (Non-resident) Accounts (Banks) Scheme (‘FCNR(B)’)<\/span> deposit account.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

      • \n

        Terms and conditions to be followed:<\/p>\n

          \n
        • \n

          Need to have a comprehensive policy on interest rates on deposits duly approved by the Board of Directors\/ any committee of the Board to which the powers have been delegated;<\/p>\n<\/li>\n

        • \n

          Rates should be uniform across all branches and for all customers;<\/p>\n<\/li>\n

        • \n

          Interest rate payable should be strictly as per the schedule of interest rates disclosed in advance;<\/p>\n<\/li>\n

        • \n

          Commercial banks should maintain a bulk deposit interest rate card in their Core Banking System to facilitate supervisory review;<\/p>\n<\/li>\n

        • \n

          Rates will not be negotiable between depositors and the bank;<\/p>\n<\/li>\n

        • \n

          Transactions will be rounded off to the nearest rupee for rupee deposits and to 2 decimal places for FCNR(B) deposits.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

        • \n

          Maturity of deposits:<\/p>\n

            \n
          • \n

            On non-business working day\/Sunday\/ holiday for commercial banks\/ co-operative banks<\/span>: interest payable at originally contracted rate on the original principal deposit amount for non-business working day\/ Sunday\/ holiday, which intervene between the date of maturity and the date of payment of the proceeds of the deposit on the succeeding working day;<\/p>\n<\/li>\n

          • \n

            In case of reinvestment:<\/span> interest will be paid for the intervening non- business working day on the maturity value.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n

          • \n

            Prohibitions on banks:<\/p>\n

              \n
            • \n

              Banks cannot pay any remuneration fees\/ commission\/ brokerage\/incentives on deposits in form to any individual\/firm\/ company\/ association\/ institution except for:<\/p>\n

                \n
              • \n

                commission paid to agents employed to collect door-to-door deposits under a special scheme;<\/p>\n<\/li>\n

              • \n

                commission paid to Direct Selling Agents\/ Direct Marketing Agents as part of the outsourcing arrangements by commercial banks;<\/p>\n<\/li>\n

              • \n

                remuneration paid to Business Facilitators\/ Business Correspondents;<\/p>\n<\/li>\n

              • \n

                incentives granted to staff members of co-operative banks as approved by Reserve Bank of India.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

              • \n

                Offer prize\/ lottery\/ free tips any other initiative having element of chance for mobilizing deposits.<\/p>\n<\/li>\n

              • \n

                Resort to unethical practices of raising of resources through agents\/ third parties to meet the credit needs of the existing\/ prospective borrowers or to grant loans to the intermediaries based on the consideration of deposit mobilisation.<\/p>\n<\/li>\n

              • \n

                Issue any advertisement\/ literature soliciting deposits from public highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by the bank for the particular period.<\/p>\n

                Simple rate of interest per annum for the period of deposit should be indicated invariably.<\/p>\n<\/li>\n

              • \n

                Accept interest-free deposit other than in current account or pay compensation indirectly.<\/p>\n<\/li>\n

              • \n

                Grant advances against term deposits maintained with other banks.<\/p>\n<\/li>\n

              • \n

                Create any fund to be utilized for charitable purposes in consultation with the depositors.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

              • \n

                Prohibition Exemptions:<\/p>\n

                  \n
                • \n

                  Payment of interest on delayed collection of outstation instruments like cheques, drafts, bills, telegraphic\/ mail transfers, etc.<\/p>\n<\/li>\n

                • \n

                  Deposit received by bank:<\/p>\n

                    \n
                  • \n

                    from the institutions permitted to participate in the Call\/Notice\/Term Money Market both as lenders and borrowers;<\/p>\n<\/li>\n

                  • \n

                    for which it has issued a participation certificate;<\/p>\n<\/li>\n

                  • \n

                    under the Capital Gains Accounts Scheme, 1988 for commercial banks;<\/p>\n<\/li>\n

                  • \n

                    under the Certificate of Deposit Scheme for commercial banks.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

                    Banks cannot pay Offer prize\/ lottery\/ free tips any other initiative having element of chance for mobilizing deposits.<\/p>\n","protected":false},"author":67515,"featured_media":323058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[80905,80906,2611,80904],"class_list":["post-345670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-interestrate","tag-interestrateframwork","tag-RBI","tag-reservebankofindia"],"yoast_head":"\nRBI (Interest Rate on Deposits) Directions 2025 | SCC Times<\/title>\n<meta name=\"description\" content=\"Reserve Bank of India notified RBI (Interest Rate on Deposits) Directions, 2025 providing a framework for banks to follow while formulating their policies on Interest Rates on Deposits.\" 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These Directions shall come into force from June 07, 2021. \u00a0 The following directions have been given: \u00a0 Eligible Issuers: Certificate of Deposits (CDs) may be issued by:\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"rbi","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":368462,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/12\/02\/rbi-issues-directions-and-notifications-2025\/","url_meta":{"origin":345670,"position":2},"title":"RBI’s Comprehensive Framework of 244 Directions: Strengthening Governance, Compliance, and Financial Stability","author":"Editor","date":"December 2, 2025","format":false,"excerpt":"RBI issues directions and notifications on credit facilities, prudential norms, governance, asset classification, and compliance for banks and financial institutions.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Kunbi caste claim","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Kunbi-caste-claim.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Kunbi-caste-claim.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Kunbi-caste-claim.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Kunbi-caste-claim.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":330691,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/09\/12\/rbi-imposes-penalty-amounting-to-1-crore-on-hdfc-bank-non-compliance-with-directions-legal-news\/","url_meta":{"origin":345670,"position":3},"title":"RBI imposes penalty amounting to Rs. 1 Crore on HDFC Bank Limited for non-compliance with directions","author":"Editor","date":"September 12, 2024","format":false,"excerpt":"The penalty imposed was based on deficiencies in statutory and regulatory compliance on behalf of HDFC bank.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Reserve Bank of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":263703,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/15\/rbi-issues-regulatory-framework-for-microfinance-loans\/","url_meta":{"origin":345670,"position":4},"title":"RBI issues Regulatory Framework for Microfinance Loans","author":"Bhumika Indulia","date":"March 15, 2022","format":false,"excerpt":"The Reserve Bank has issued Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 for regulating microfinance loans. The Directions will come into force from April 01, 2022. \u00a0 Key Points: Applicability: The provisions of these directions shall apply to the following entities All Commercial Banks (including Small\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":269207,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/29\/reserve-bank-of-india-penalizes-indian-overseas-bank\/","url_meta":{"origin":345670,"position":5},"title":"RBI penalizes Indian Overseas Bank of Rs. 57.50 lakh for non compliance of RBI (Frauds Classification and Reporting by Commercial Banks and Select FIs Directions, 2016","author":"Editor","date":"June 29, 2022","format":false,"excerpt":"On 24-06-2022 the Reserve Bank of India (\u2018RBI') imposed a penalty of Rs.57.50 lakh on the Indian Overseas Bank (\u2018The Bank') for not complying to the directions given by RBI under the provisions of Section 47-A(1) (c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949. The\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/345670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=345670"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/345670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/323058"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=345670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=345670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=345670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}