![]() Gap between outstanding loan and fresh loan rates reversed to 55 bps. M B Mahesh, Nischint Chawathe, Dipanjan Ghosh and Shrey Singh analysts at Kotak Institutional Equities said, "Term deposits have started to stabilize around 6.9% post increasing at a slow pace in the past few months. As rate cut helps bank to depend more upon RBI for borrowing funds, the banks will be least bothered to increase deposit interest rates. On the other hand, this is not the scenario for deposit interest rates. ![]() Recently, lenders like HDFC Bank, Bank of Maharashtra and ICICI Bank have already cut their MCLR rate which is a benchmark for home loan, personal loan and car loan interest rates. This creates an accessibility of low credit cost, which gives the lenders a chance to reduce lending rates of customers. In a rate cut scenario, it becomes easier to depend upon RBI for borrowing as their lending interest rate will be cheaper.
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