RBI Data Shows Fresh Loan and Deposit Rates Eased in September
Court / Authority
Reserve Bank of India
Update / Judgement Date
30 Oct 2026
Source
WCP News Bulletin
Author
Dipanshi Bansal — WCP Legal Desk
Reading Time
3 min read
View Count
2
The Reserve Bank of India’s October 2026 data show that the weighted average rate on fresh rupee loans of scheduled commercial banks declined to 8.51 per cent in September from 8.61 per cent in August. Fresh term-deposit rates also eased, while the rate on outstanding loans remained unchanged at 8.96 per cent.
Key Highlights :
- The weighted average lending rate (WALR) on outstanding rupee loans remained at 8.96 per cent in September 2026, unchanged from August.
- WALR on fresh rupee loans declined to 8.51 per cent from 8.61 per cent.
- The one-year median Marginal Cost of Funds based Lending Rate (MCLR) fell to 8.55 per cent in October from 8.61 per cent in September.
- The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits edged down to 6.55 per cent from 6.56 per cent.
- WADTDR on fresh rupee term deposits declined to 5.61 per cent from 5.67 per cent.
- Fresh and outstanding lending rates showed mixed movements across sectors.
Background :
- The release covers scheduled commercial banks but excludes regional rural banks and small finance banks.
- It reports lending rates for September 2026, the one-year median MCLR for October 2026 and deposit rates for September 2026.
What Has Changed :
Indicator- WALR – outstanding rupee loans
Earlier Position- 8.96% in August 2026
Latest Position-8.96% in September 2026
Period- September 2026
Indicator- WALR – fresh rupee loans
Earlier Position- 8.61% in August 2026
Latest Position- 8.51% in September 2026
Period- September 2026
Indicator- One-year median MCLR
Earlier Position- 8.61% in September 2026
Latest Position- 8.55% in October 2026
Period- October 2026
Indicator- WADTDR – outstanding term deposits
Earlier Position- 6.56% in August 2026
Latest Position-6.55% in September 2026
Period- September 2026
Indicator- WADTDR – fresh term deposits
Earlier Position- 5.67% in August 2026
Latest Period- 5.61% in September 2026
Period- September 2026
Who Is Affected :
- Scheduled commercial banks, excluding regional rural banks and small finance banks, as the institutions covered by the data.
- Borrowers, depositors, analysts and businesses using these indicators to understand banking-rate movements; the release does not prescribe customer-specific rate changes.
Compliance Action Points :
No direct compliance action. The release reports observed rates and does not amend a lending or deposit-rate rule or prescribe a filing.
Analysis & Impact :
- CA / CS / Tax & Legal Professionals: Use the data as a market reference only. It does not establish the rate applicable to any individual loan or deposit contract.
- Businesses & Investors: Lower fresh-loan and fresh-deposit averages indicate a modest easing in the reported pricing of new bank business; actual pricing remains institution- and borrower-specific.
- News Readers: New loan and deposit rates declined, while the average rate on the existing rupee loan book was unchanged.
- Points to Watch: The source provides aggregate averages; sector-level tables are referenced but no sector-specific inference should be drawn from the headline indicators alone.
References :
No Act, section, regulation or circular is cited in the press release. Statistical definitions used include WALR, MCLR and WADTDR.
Source & Attribution :
Reserve Bank of India, Press Release 2026-2027/1416, “Lending and Deposit Rates of Scheduled Commercial Banks – October 2026”, dated 30 October 2026. https://www.rbi.org.in.
Disclaimer: This summary is an editorial aid prepared from publicly available information. It is not legal, tax or investment advice. Refer to the original notification, circular, order or report before acting.
Full Judgement / Attachment
Full Judgement
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