Banking Term: Bulk Deposits

As per RBI guideline, Bulk deposits are corporate deposits that are generally Rs 1 crore and above with maturity of up to one year.

Created On: Aug 5, 2015 15:46 IST
Modified On: Oct 15, 2015 18:03 IST

As per the RBI guidelines, Bulk deposits are “Rupee term deposits of Rs. 1 crore and above”. It should not be confused with wholesale deposits. Here, Rupee term deposits will include domestic deposits as well as term deposits under NRE (Non resident rupee) and NRO (Non resident ordinary rupee) accounts.

On premature withdrawal of deposits, RBI has introduced some regulations which are mentioned as below:-

a. Banks are privileged to determine its penal interest rates for premature withdrawal of such deposits.
b. Account holder can withdraw any amount of rupee term deposits below one crore rupee before the completion of agreement which is made at the time of making deposits.
c. Banks have all the rights to disallow premature withdrawal of term deposit in term of bulk Deposits.

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