Lending rates ease, deposit rate firm up in December
The weighted average lending rate (WALR) on fresh rupee loans of commercial banks s declined to 9.25 per cent in December 2024 from 9.40 per cent in November 2024.
The WALR on outstanding rupee loans moderated to 9.87 per cent in December 2024 from 9.89 per cent in November 2024.
The one year median Marginal Cost of fund-based Lending Rate (MCLR) remained unchanged at 9 per cent in January 2025.
The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits stood at 6.57 per cent in December 2024 as compared to 6.46 per cent in November 2024.
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The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits was 7 per cent in December 2024 (6.98 per cent in November 2024).In response to the 250 basis points (bps) increase in the policy repo rate since May 2022, banks have revised their repo linked external benchmark-based lending rates (EBLRs) up by a similar magnitude. The 1-year median marginal cost of funds-based lending rate (MCLR) increased by 175 bps during May 2022 to December 2024.