Home › Circulars › RBI/2010-11/65

Master Circular on Interest Rates for Rupee Deposits (Domestic, NRO, NRE)

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/65 · issued 01 Jul 2010 · ~2 min read
Quick answerRBI consolidated all directives on interest rates for domestic, NRO, and NRE rupee deposits as of July 1, 2010. This master circular updates previous instructions and applies to all scheduled commercial banks except RRBs. Key areas include minimum tenor, savings/term deposit rates, premature withdrawal rules, and deposit schemes.

What changed

This master circular replaces the July 1, 2009 version by incorporating all instructions issued up to June 30, 2010. It consolidates guidelines on interest rates for domestic, NRO, and NRE rupee deposits into a single updated document. The circular does not introduce new policy changes but serves as a comprehensive reference for existing regulations.

What it means for you

Banks must ensure their deposit interest rate policies align with the consolidated directives, covering minimum tenor, savings and term deposit rates, and special provisions for staff, senior citizens, and NRE/NRO accounts. Compliance with premature withdrawal, overdue renewal, and joint account rules is mandatory. This circular simplifies regulatory adherence by providing a single source of truth for all related instructions.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Who it affects

All scheduled commercial banks (excluding RRBs), Treasury and deposit operations teams, Compliance and risk management departments, Retail and NRI banking divisions

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Does this master circular introduce new interest rate regulations?

No, it consolidates existing instructions issued up to June 30, 2010, without adding new policy changes. It replaces the previous master circular from July 1, 2009.

Which banks are covered under this circular?

All scheduled commercial banks are covered, excluding Regional Rural Banks (RRBs). Local Area Banks and other scheduled banks must comply.

What are the key areas addressed in the guidelines?

Key areas include minimum tenor for deposits, interest rates on savings and term deposits, premature withdrawal rules, renewal of overdue deposits, and special provisions for NRE/NRO accounts, staff, and senior citizens.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1654: DBOD.No.Dir.BC.10/13.03.00/2010-11 — "Master Circular on Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (Exte”
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/65 DBOD.No.Dir.BC.10/13.03.00/2010-11 July 1, 2010 Ashadha10,1932 (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam Master Circular on Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts Please refer to the Master Circular DBOD No. Dir. BC. 11/13.03.00/ 2009-10 dated July 1, 2009 consolidating the instructions/guidelines issued to banks till June 30, 2009 relating to Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts. The Master Circular has been suitably updated by incorporating the instructions issued up to June 30, 2010 and has been placed on the RBI website ( http://www.rbi.org.in ).   A copy of the Master Circular is enclosed. Yours faithfully (A.K.Khound) Chief General Manager Encls: as above CONTENTS Para.no
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/65 · issued 01 Jul 2010. The plain-English explanation above is BankPulse’s own independent summary.
🧰 Tools — save, print, templates & related
Most relevant forCompliance TeamTreasury Team / ALMProduct Manager (Digital & Lending)Branch Manager — Private Bank / SFBPersonal Banker / Branch RM (Portfolio)NRI Relationship Manager
🛠 Banker’s toolkit — checklists & reply templates →
Related circulars · Department of Regulation
SFB Pillar 3 Disclosure Norms Aligned with BaselUCB Deposit Rate Disclosure & Uniformity Rules UpdatedLAB Deposit Rate Disclosure & Uniformity Rules TightenedPayments Banks: Interest Rates Must Match Disclosed ScheduleRBI Updates Bulk Deposit Rate Rules and Disclosure Timing
Browse all departments →

💬 Banker Discussion

Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.

Loading comments…
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5812&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
—