RBI Data Shows Scheduled Commercial Banks Reduce One-Year Median MCLR to 8.50% in June 2026

The Reserve Bank of India (RBI) has published the latest lending and deposit rate data for Scheduled Commercial Banks (SCBs), excluding Regional Rural Banks (RRBs) and Small Finance Banks (SFBs), highlighting changes in benchmark lending rates and deposit rates for June 2026.

According to the RBI, the one-year median Marginal Cost of Funds-based Lending Rate (MCLR) of Scheduled Commercial Banks declined to 8.50% in June 2026, compared to 8.65% in May 2026, indicating a reduction in benchmark lending rates used for pricing several floating-rate loans.

The data further shows that the Weighted Average Lending Rate (WALR) on fresh rupee loans increased marginally to 8.51% in May 2026, from 8.50% in April 2026. In contrast, the WALR on outstanding rupee loans eased slightly to 8.97%, down from 8.98% during the previous month.

RBI's statistics also reflect the continued expansion of External Benchmark-based Lending Rate (EBLR) linked lending. The share of EBLR-linked loans in the total outstanding floating-rate rupee loan portfolio of Scheduled Commercial Banks increased to 67.6% as of March 31, 2026, compared with 65.5% at the end of December 2025. During the same period, the proportion of MCLR-linked loans declined to 30.2%, from 32.0%.

On the deposit side, the Weighted Average Domestic Term Deposit Rate (WADTDR) on fresh rupee term deposits rose to 5.84% in May 2026, compared with 5.79% in April 2026. However, the WADTDR on outstanding rupee term deposits moderated marginally to 6.57%, down from 6.59% in the previous month.

The latest RBI data provides an overview of prevailing lending and deposit rate trends across Scheduled Commercial Banks and indicates the ongoing transition towards external benchmark-linked lending while reflecting recent movements in funding costs and deposit pricing.