Weighted average rate on new bank loans down 15 bps on month to 9.25% Dec
This story was originally published at 19:08 IST on 31 January 2025
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--RBI: Weighted avg rate on new bank loans 9.25% Dec, down 15 bps from Nov
--RBI: Weighted avg rate on new bank deposits 6.57% Dec, up 11 bps from Nov
NEW DELHI – The weighted average lending rate on fresh rupee loans of scheduled commercial banks fell to 9.25% in December, from 9.40% a month earlier, data released by the Reserve Bank of India on Friday showed.
Lending rates for private sector banks on fresh loans fell faster than public sector banks on a month-on-month basis, the data showed. The weighted average lending rate on fresh rupee loans of public sector banks fell 5 basis points on month to 8.54%, while those of private banks declined 15 basis points to 10.16% in December. However, the weighted average lending rate of foreign banks rose by 6 basis points to 9.28%.
The weighted average lending rate on outstanding rupee loans of scheduled commercial banks eased by 2 basis points on month to 9.87% in December. The one-year median marginal cost of fund-based lending rate of scheduled commercial banks remained unchanged at 9.00% in January compared with a month ago.
In the case of deposits, scheduled commercial banks' weighted average domestic term deposit rate on fresh rupee deposits rose 11 bps on month to 6.57% in December.
The weighted average domestic term deposit rates on fresh deposits of public sector banks rose by 13 bps on month to 7.06%, while the rates of private sector banks rose 2 bps to 6.53% in December. End
Reported by Pratiksha
Edited by Akul Nishant Akhoury
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