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What the RBI rate snapshot shows
The Reserve Bank of India’s official rate page showed the following India-wide figures in its snapshot as of October 6, 2026. These are system-level indicators, not offers from a particular bank or promises about how a customer’s rate will change.
| Rate | RBI snapshot |
|---|---|
| Policy repo rate | 5.25% as of October 6, 2026 |
| Standing deposit facility rate | 5.00% as of October 6, 2026 |
| Marginal standing facility rate and bank rate | 5.50% each as of October 6, 2026 |
| Savings deposit rate | 2.50% in the RBI rate snapshot |
| Term deposit rate above one year | 6.00%–6.75% in the RBI rate snapshot |
| Overnight MCLR | 7.80%–8.00% in the RBI rate snapshot |
| Base rate | 8.40%–10.00% in the RBI rate snapshot |
The RBI notice lists an MPC meeting for October 5–7, 2026, so the October 6 snapshot predates the end of that meeting. It should not be treated as the meeting’s final decision. Check the latest RBI resolution and your bank’s current rate card for subsequent updates: RBI current rates and RBI monetary-policy notice.
How a repo-rate change reaches a floating loan
The repo rate is an RBI policy rate, not the rate charged on every loan. For a floating-rate loan linked to an external benchmark such as the RBI repo rate, a benchmark change can affect the loan’s rate when the lender applies the contractual reset. The lender’s spread and the reset schedule also matter, so the loan rate—and any resulting EMI or tenure change—may not move immediately or by exactly the repo-rate change.
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Repo or other external benchmark
Check the benchmark named in your loan agreement, the lender’s spread, and the reset date or frequency. The applicable rate is determined under those terms, not by assuming that each policy move passes through one-for-one. The RBI handbook extract identifies the repo rate and specified FBIL Treasury-bill yields as examples of external benchmarks: RBI Handbook of Statistics on the Indian Economy, February 27, 2025. The handbook page redirected to the RBI homepage when opened; its detailed benchmark mechanics are therefore based on the displayed search-result extract.
MCLR-linked loan
MCLR is calculated by the bank rather than being another name for the repo rate. The RBI handbook extract describes components that include the marginal cost of funds, negative carry on account of CRR, operating costs and a tenor premium. Because these inputs are bank-specific, MCLR need not change in lockstep with the repo rate. For an MCLR-linked loan, check the applicable MCLR, spread and reset terms in the loan documents.
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What a repo-rate change means for fixed deposits
Banks set fixed-deposit rates, so a repo-rate change does not require every bank to change its offers immediately or by the same amount. The RBI snapshot’s term-deposit range above one year is a broad indicator, not a quote for a particular bank, customer category or tenure.
An existing fixed deposit earns according to its contracted terms; a new deposit may be offered at a different rate. Before booking or breaking a deposit, check the bank’s current rate card, eligible customer category, tenure, payout or compounding method and premature-withdrawal rules. The RBI rate snapshot does not establish the terms of an individual deposit.
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What a repo-rate change means for savings accounts
Savings-account rates are also set by banks. The RBI snapshot listed a savings deposit rate of 2.50%, but that figure does not guarantee that a particular bank will change its rate after an RBI decision, or specify when or by how much it might change. Check the rate and terms for your own account with the bank.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to check what changes for you
For a loan
- Find the benchmark in your loan agreement: an external benchmark, such as the repo rate, or MCLR.
- Check the current applicable benchmark and the lender’s spread.
- Confirm the reset date or frequency and how the lender applies a change to your rate and repayment schedule.
- Review any relevant charges or eligibility conditions before comparing another loan offer.
For a deposit
- Check the bank’s current rate for your tenure and customer category.
- Compare payout or compounding terms as well as the headline rate.
- For a fixed deposit, read the premature-withdrawal conditions before committing funds.
There is no single pass-through amount or timing that applies to all banks and products. The RBI’s published figures help show the broader rate environment; your bank’s current terms and your contract determine the rate that applies to you.
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