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CareEdge Research Report
In February 2024, the spread of Scheduled Commercial Banks between the weighted average lending rate and weighted average domestic term deposit rate (the net interest rate spread) stood at 2.92% and 2.95% for fresh and outstanding rates, respectively.
Meanwhile, outstanding spreads of public sector banks touched a new 10-year low of 2.31%, while private banks continued to maintain a higher spread as compared to PSBs.
The lending rate on outstanding rupee loans of scheduled commercial banks decreased by 2 basis points sequentially to 9.81%. In comparison, the deposit rate on o/s rupee term deposits increased marginally by 1 bps to 6.86% in February 2024.
Meanwhile, the one-year median MCLR of SCBs remained flat month-on-month and stood at 8.80% as of March 2024.
The lending rate on fresh rupee loans of SCBs decreased sequentially by 7 basis points (bps) to 9.36% in February 2024, while the deposit rate (Fresh) of SCBs increased by 1 bps to 6.44% in February 2024.
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