Report
Bank deposit rates fell as rates on new loans rose in August
The Economic Times reports that banks’ weighted average rate on fresh rupee term deposits fell to 5.67% in August, while the average lending rate on new loans rose to 8.61%.
TLDR
The Economic Times reports that deposit rates declined at both public- and private-sector banks in August. The weighted average rate on fresh rupee term deposits fell to 5.67%, while the average lending rate on new loans rose to 8.61%. Lending rates varied by loan type, with personal loans seeing a significant increase.
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