Lending and Deposit Rates of Scheduled Commercial Banks – October 2026
Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during October 2026 are set out in Tables 1 to 9. Highlights: Lending Rates: The weighted average lending rate (WALR) on outstanding rupee loans of SCBs remained unchanged at 8.96 per cent in September 2026 compared to August 2026. The WALR on fresh rupee loans…
In October 2026, data on lending and deposit rates of scheduled commercial banks (SCBs) was released, with several key figures to note. The weighted average lending rate (WALR) on outstanding rupee loans remained unchanged at 8.96 percent compared to the previous month, August 2026. However, the WALR on fresh rupee loans showed a slight decrease to 8.51 percent in September 2026, down from 8.61 percent in August.
The 1-year median Marginal Cost of Funds based Lending Rate (MCLR) for SCBs also saw a decline, dropping to 8.55 percent in October from 8.61 percent in September.
On the deposit side, the weighted average domestic term deposit rate (WADTDR) for outstanding rupee term deposits of SCBs saw a marginal decline to 6.55 percent in September, from 6.56 percent in August. This trend continued with fresh rupee term deposits, where the WADTDR fell to 5.61 percent in September from 5.67 percent in August.
The mixed movement across sectors in the WALR on fresh and outstanding rupee loans highlighted varying impacts on different industries. Deputy General Manager (Communications) Ajit Prasad issued the Press Release on October 2026, detailing these findings under the designation 2026-2027/1416.
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