Banks' 1-year median MCLR rose to 8.60% in July 2026

The 1-year median marginal cost of funds based lending rate (MCLR) of scheduled commercial banks rose to 8.60 per cent in July 2026 from 8.50 per cent in June, while the weighted average lending rate on fresh rupee loans stood at 8.53 per cent in June 2026. The weighted average domestic term deposit rate on fresh rupee deposits was 5.99 per cent that month. The figures cover scheduled commercial banks excluding regional rural banks and small finance banks.

Key facts

• The weighted average lending rate (WALR) on fresh rupee loans of scheduled commercial banks stood at 8.53 per cent in June 2026.
• The 1-Year median Marginal Cost of Funds based Lending Rate (MCLR) of scheduled commercial banks stood at 8.60 per cent in July 2026.
• The 1-Year median MCLR of scheduled commercial banks was 8.50 per cent in June 2026.
• The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of scheduled commercial banks stood at 5.99 per cent in June 2026.
• The data on lending and deposit rates covers scheduled commercial banks (SCBs) excluding regional rural banks and small finance banks, and was received during July 2026.

Sources

• Lending and Deposit Rates of Scheduled Commercial Banks – July 2026