Weighted avg rate on new bank loans 8.62% in Jun, lowest since Sept 2022
This story was originally published at 19:03 IST on 31 July 2025
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--RBI: Weighted avg rate on new bank loans 8.62% Jun, down 58 bps from May
--RBI: Weighted avg rate on new bank deposits 5.75% Jun, dn 36 bps from May
NEW DELHI – The weighted average lending rate on fresh rupee loans of scheduled commercial banks fell 58 basis points on month to 8.62% in June, data released Thursday by the Reserve Bank of India showed. Fresh rupee loan rates fell for the fourth consecutive month in June and were the lowest since September 2022.
Loans became cheaper in June after the Reserve Bank of India's Monetary Policy Committee lowered the repo rate by 50 bps on Jun. 6. to 5.50%. The MPC has reduced the repo rate by 100 bps so far in 2025 and the RBI has filled the banking system with liquidity in a bid to quicken credit growth and economic activity.
The weighted average rate on fresh rupee loans of public sector banks fell 56 bps on month to 7.82% in June and those of foreign banks fell 51 bps to 8.07%. The weighted average lending rate of private banks fell 41 bps to 9.74%.
The weighted average lending rate on outstanding rupee loans of scheduled commercial banks eased 21 bps on month to 9.48% in June. The one-year median marginal cost of fund-based lending rate of scheduled commercial banks moderated to 8.75% in July from 8.90% in June.
The weighted average rate on fresh rupee term deposits of scheduled commercial banks was 5.75% in June, down 36 bps from May. At 5.75%, banks' weighted average rate on fresh rupee term deposits was the lowest since October 2022.
The weighted average rate on fresh deposits of public sector banks fell 36 bps to 6.23% in June, while the rate of private sector banks declined 37 bps to 5.92%. The weighted average domestic term deposit rate on outstanding rupee term deposits of scheduled commercial banks was 6.99% in June, down from 7.07% in May. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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