Document title: Lending and Deposit Rates of Scheduled Commercial Banks – September 2026
Issuing authority: Reserve Bank of India
Reference: Press Release 2026-2027/1224
Date: 30 September 2026
Policy Rates and Liquidity
The weighted average lending rate (WALR) on outstanding rupee loans of scheduled commercial banks fell marginally to 8.96 per cent in August 2026, compared with 8.97 per cent in July 2026. For fresh rupee loans, the WALR was 8.61 per cent in August 2026, up from 8.52 per cent in July 2026. The one‑year median marginal cost of funds based lending rate (MCLR) declined to 8.61 per cent in September 2026 from 8.70 per cent in August 2026. The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits slipped to 6.56 per cent in August 2026, down from 6.58 per cent in July 2026, while the rate on fresh term deposits fell to 5.67 per cent from 5.85 per cent over the same period.
Banking and Credit
The share of external benchmark‑linked lending rate (EBLR) loans in total outstanding floating‑rate rupee loans rose to 68.2 per cent at end‑June 2026, from 67.6 per cent at end‑March 2026. Conversely, the share of MCLR‑linked loans declined to 29.6 per cent at end‑June 2026, from 30.2 per cent at end‑March 2026. The WALR on fresh as well as outstanding rupee loans displayed mixed movements across sectors in August 2026, indicating sector‑specific variations.
The data were released by Ajit Prasad, Deputy General Manager, Communications, RBI.
Overall, the RBI’s latest data show a modest easing in overall lending rates and a slight decline in deposit rates, alongside a continued shift towards external benchmark‑linked loan pricing, reflecting ongoing adjustments in the banking sector’s cost of funds.