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The weighted average rate on fresh rupee term deposits fell 18 basis points to 5.67% in August from 5.85% in July. The weighted average lending rate on fresh rupee loans rose nine basis points to 8.61% from 8.52%. Both public and private sector banks paid less for new deposits. The average rate at public sector banks declined 15 basis points to 6.20%, while that at private banks fell 14 basis points to 5.82%. The increase in fresh lending rates was concentrated at private banks, where the average rose 10 basis points to 9.19%. It edged up one basis point to 7.99% at public sector banks. The divergence has widened since March, when banks raised deposit rates sharply. The average rate on fresh deposits has fallen 40 basis points from 6.07% in March, while the average rate on fresh loans has risen 21 basis points from 8.40%. The rise in lending rates was not uniform across borrowers. The average rate on fresh other personal loans increased 17 basis points to 10.41% in August, while that on education loans rose 16 basis points to 9.30%. Fresh vehicle loan rates, however, fell 19 basis points to 9.57%, while housing loan rates eased two basis points to 7.61%. Rates on existing business moved only marginally. The weighted average rate on outstanding loans declined one basis point to 8.96% in August, while the rate on outstanding term deposits fell two basis points to 6.56%. Separately, the one-year median marginal cost of funds-based lending rate declined to 8.61% in September from 8.70% in August. The share of external benchmark-based lending rate (EBLR)-linked loans in total outstanding floating-rate rupee loans of banks was 68.2% at the end of June 2026, while that of MCLR-linked loans was 29.6%. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-10-01 03:04