Reserve Bank of India

31.01.2024

Banking

Lending and Deposit Rates of Scheduled Commercial Banks - January 2024

MANU/RPRL/0070/2024

Highlights:

Lending Rates:

• The weighted average lending rate (WALR) on fresh rupee loans of SCBs stood at 9.32 per cent in December 2023 (9.41 per cent in November 2023).

• The WALR on outstanding rupee loans of SCBs was at 9.85 per cent in December 2023 (9.83 per cent in November 2023).1

• 1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs moved to 8.80 per cent in January 2024 from 8.75 per cent in December 2023.

Deposit Rates:

• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased to 6.49 per cent in December 2023 from 6.34 per cent in November 2023.

• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.83 per cent in December 2023 (6.78 per cent in November 2023).

Tags : Lending rates Deposit Rates Highlights

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