New Delhi, Aug. 31 -- Interest rates offered by banks on fresh term deposits declined in July, while rates charged on new loans remained largely unchanged, according to Reserve Bank of India (RBI) data released on Monday.

The average interest rate on fresh rupee term deposits fell to 5.90 per cent in July from 5.99 per cent in June, a decline of 0.09 percentage points.

At the same time, the average lending rate on fresh rupee loans declined marginally to 8.52 per cent from 8.53 per cent in June.

However, the average rate on loans already outstanding edged up to 8.97 per cent in July from 8.96 per cent in June.

RBI said lending rates on fresh as well as existing rupee loans "exhibited a mixed movement across sectors in July 2026."

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