Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of October 2024 are set out in Tables 1 to 7.

Highlights:

Lending Rates:

• The weighted average lending rate (WALR) on fresh rupee loans of SCBs stood at 9.37 per cent in September 2024 (9.41 per cent in August 2024).
• The WALR on outstanding rupee loans of SCBs was placed at 9.90 per cent in September 2024 (9.91 per cent in August 2024).¹
• 1-Year median Marginal Cost of fund-based Lending Rate (MCLR) of SCBs remained unchanged at 8.95 per cent in October 2024 from that of September 2024.

Deposit Rates:

• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 6.54 per cent in September 2024 as compared to 6.46 per cent in August 2024.
• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was placed at 6.95 per cent in September 2024 (6.93 per cent in August 2024).¹

Ajit Prasad            
Deputy General Manager
(Communications)     

Press Release: 2024-2025/1411

¹ Data exclude the impact of the merger of a non-bank with a bank.