The Reserve Bank of India (RBI) on April 30, 2024, issued the Lending and Deposit Rates of Scheduled Commercial Banks – April 2024.
The following are the highlights:
Lending Rates:
• The weighted average lending rate (WALR) on fresh rupee loans of SCBs stood at 9.37 per cent in March 2024 (9.36 per cent in February 2024).
• The WALR on outstanding rupee loans of SCBs was at 9.85 per cent in March 2024 (9.83 per cent in February 2024).1
• 1-Year median Marginal Cost of Fund based Lending Rate (MCLR) of SCBs moved to 8.85 per cent in April 2024 from 8.80 per cent in March.
Deposit Rates:
• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs increased to 6.62 per cent in March 2024 from 6.44 per cent in February 2024.
• The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was at 6.88 per cent in March 2024 (6.86 per cent in February 2024).
[Press Release: 2024-2025/222]
