Lending and Deposit Rates of Scheduled Commercial Banks – April 2024

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of April 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 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).¹

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/222

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