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RBI policy rates, bank lending benchmarks and Maharashtra statutory charges (October 2026)

Updated for the RBI Monetary Policy Committee decision of 7 October 2026: the policy repo rate stands at 5.50%, the Bank Rate and MSF rate at 5.75%, the SDF rate at 5.25%, and the statutory MSMED Act delayed-payment interest rate (3× Bank Rate) at 17.25% p.a. Below are the current RBI policy history, indicative interest rate and margin bands across PSU banks, private banks and NBFCs/HFCs for 9 loan categories, and Maharashtra's statutory stamp duty, MODT and MSME guarantee rates.

Last reviewed 23 October 2026. · RBI (rbi.org.in)

RBI Policy Repo Rate

5.50%

+25 bps on 7 Oct 2026 · Calibrated tightening

Read MPC analysis →

RBI Bank Rate & MSF

5.75%

Up from 5.50% · Governs penal & statutory rates

MSME interest tool →

Standing Deposit Facility (SDF)

5.25%

25 bps below repo · LAF corridor floor

How repo links work →

MSMED Act Sec. 16 Interest

17.25% p.a.

3 × RBI Bank Rate (5.75%) · Compounded monthly

Calculate invoice dues →

CRR / SLR Reserve Ratios

4.00% / 18.00%

Cash Reserve Ratio & Statutory Liquidity Ratio

Transmission guide →

Maharashtra MODT Stamp Duty

0.30%

Article 6 on loans > ₹5L (0.10% up to ₹5L)

MODT calculator →

Interactive Repo Rate Reset & EMI Impact Simulator

Test how a repo rate hike or cut (such as the +25 bps move on 7 October 2026) changes your monthly EMI, stretches your loan tenure if you keep the EMI unchanged, or increases annual interest on a Cash Credit / Construction Finance limit.

Outstanding loan / limit (₹)

Current interest rate (% p.a.)

Remaining tenure (years)

Rate change (basis points, 25 bps = 0.25%)

Current monthly EMI

₹43,391

8.50% · 240 months

New monthly EMI (same tenure)

₹44,186

+₹795/month (8.75%)

Or tenure if EMI kept same

252 months

+12 months

Annual interest change on CC / OD limit

+₹12,500

/year

Check Balance Transfer savings → Check Under-Construction Pre-EMI →

1. RBI Monetary Policy & MSMED Act Statutory Rate History (2022–2026)

Floating-rate retail and MSME loans sanctioned by scheduled commercial banks since October 2019 are linked to an external benchmark — most commonly the RBI policy repo rate — and must be reset at least once every three months. The Bank Rate simultaneously determines the statutory compound interest payable to micro and small suppliers under Section 16 of the MSMED Act, 2006 (three times the Bank Rate).

RBI Repo Rate, SDF, MSF, Bank Rate and MSMED Act Section 16 penal interest rate timeline (2022–2026)
Effective Date	Repo Rate	Move	SDF Rate	MSF & Bank Rate	MSMED Sec. 16 Rate (3× Bank Rate)	MPC Stance
7 Oct 2026 (Current)	5.50%	+25 bps	5.25%	5.75%	17.25% p.a.	Calibrated Tightening
6 Aug 2025 – Aug 2026	5.25%	Hold (4 meetings)	5.00%	5.50%	16.50% p.a.	Neutral
Feb 2025 – Jun 2025	5.50% – 6.25%	−125 bps easing cycle	5.25% – 6.00%	5.75% – 6.50%	17.25% – 19.50% p.a.	Neutral
8 Feb 2023 – Dec 2024	6.50%	+25 bps (Peak hold)	6.25%	6.75%	20.25% p.a.	Withdrawal of Accommodation
4 May 2022 – Dec 2022	4.40% → 6.25%	+225 bps (5 hikes)	4.15% – 6.00%	4.65% – 6.50%	13.95% – 19.50% p.a.	Withdrawal of Accommodation

2. Indicative Lender Interest Rate, LTV, Margin & DSCR Matrix by Loan Facility (October 2026)

Actual sanction rates depend on credit score/rating, collateral coverage, cash-flow strength and lender spread over EBLR/RLLR or MCLR. Use the linked calculators to test your exact eligibility before approaching lenders.

Comparison of PSU Bank, Private Bank and NBFC/HFC interest rates, LTV/margin and DSCR norms across 9 loan products in India (October 2026)
Loan Facility	Primary Benchmark	PSU Banks (p.a.)	Private Banks (p.a.)	NBFCs / HFCs (p.a.)	Typical LTV / Margin / DSCR	Typical Tenor	Calculator & Advisory
Home Loan (Ready & Under-Construction)	Repo-linked (EBLR / RLLR)	8.35% – 9.15%	8.50% – 9.65%	8.75% – 11.50%	RBI tiered LTV: 90% (≤₹30L), 80% (₹30L–₹75L), 75% (>₹75L); FOIR 50%–65%	Up to 30 yrs	Eligibility Calculator → Home Loan Advisory
Loan Against Property (LAP — Resi / Comm / Ind)	EBLR (MSE/Retail) or 1-Yr MCLR	9.15% – 10.75%	9.50% – 11.75%	10.50% – 14.50%	LTV: 60%–70% (Residential), 50%–60% (Commercial/Industrial); FOIR 55%–65%	Up to 15 yrs	LAP vs LRD Tool → LAP Advisory
Lease Rental Discounting (LRD)	1-Yr MCLR or EBLR	8.75% – 9.75%	9.00% – 10.25%	9.75% – 11.50%	Net rent DSCR 1.15x–1.35x (after 10% Sec. 194-I TDS); Property LTV cap 65%–75%	Up to 12–15 yrs	LRD Calculator → LRD Advisory
MSME Cash Credit (CC) & Overdraft (OD)	Repo-linked EBLR (MSE) / MCLR	8.75% – 10.85%	9.25% – 11.75%	11.50% – 15.00%	20%–25% stock margin; 25%–40% debtor margin (≤90 days); 20% of turnover (Nayak ≤₹5 Cr)	12 mos (annual review)	Drawing Power Tool → Working Capital
Project Funding & Hospital / School Term Loans	1-Yr MCLR or EBLR (MSE)	8.85% – 10.75%	9.25% – 11.50%	10.50% – 13.50%	Promoter margin 25%–35%; Average DSCR ≥ 1.35x–1.75x, Minimum DSCR ≥ 1.20x	5–12 yrs (+ moratorium)	Project DSCR Tool → Project Funding
Construction Finance (Builders & Redevelopment)	1-Yr MCLR / Project Prime Rate	10.25% – 12.50%	10.75% – 13.50%	12.50% – 16.50%	1.50x–2.00x security & receivables cover; MahaRERA 70% Separate Account escrow	3–5 yrs (stage-linked)	CF Cash-Flow Tool → Construction Finance
Builder Ready-Inventory Funding (OC Received)	MCLR / NBFC Reference Rate	10.50% – 12.75%	11.00% – 13.25%	12.00% – 15.50%	60%–70% LTV against unsold OC flats; 70%–85% escrow sweep per flat sold for NOC	24–48 mos	Inventory vs Discount Tool → Inventory Funding
TReDS Factoring & Invoice Discounting	TReDS Bid Rate / MCLR	7.75% – 9.50%	8.00% – 10.25%	10.50% – 14.00%	90%–100% upfront payout (without recourse on TReDS for AAA/PSU buyers)	30–120 days	TReDS vs CC Tool → Trade Finance
Bank Guarantee (BG) & Surety Bonds	Non-Fund Based Tariff	0.75% – 2.00%	1.00% – 2.50%	1.25% – 2.75% (Surety)	Plus 18% GST; Bank BG requires 10%–25% FD cash margin (Surety bond: 0%–10% FD)	12–60 mos (+ claim)	BG vs Surety Tool → BG & Trade Limits

3. Maharashtra Statutory Property, Mortgage (MODT) & MSME Guarantee Rate Card (2026)

Government charges, tax deductions and statutory guarantee fees significantly affect the all-in cost of buying property or registering a mortgage in Maharashtra. Every figure below links to the calculator that works out your exact outlay.

Statutory stamp duty, registration, GST, TDS, MODT and CGTMSE fee rates in Maharashtra and India (October 2026)
Statutory Charge / Scheme	Governing Law / Circular	Current Statutory Rate / Cap	Key Rule & Exemption Notes	Calculator
Mumbai (BMC) Property Stamp Duty	Maharashtra Stamp Act (Art. 25)	6.00% (Men/Joint) · 5.00% (Women)	Includes 1% Metro Cess. 1% women's concession applies to residential units registered solely in female name(s) with 15-year female-transfer condition.	Stamp Duty Calculator →
Thane, Pune, Navi Mumbai, Nagpur & Urban MMR Stamp Duty	Maharashtra Stamp Act (Art. 25)	7.00% (Men/Joint) · 6.00% (Women)	5% base stamp duty + 1% Local Body Tax (LBT) + 1% Metro/Transport surcharge in municipal corporation limits.	Stamp Duty Calculator →
Property Agreement Registration Fee	Registration Act, 1908 (IGR Maharashtra)	1.00% (Capped at ₹30,000)	1% of higher of agreement value or Ready Reckoner (ASR) value up to ₹30 lakh; flat ₹30,000 above ₹30 lakh.	Stamp Duty Calculator →
Under-Construction Property GST	CGST / MGST Notification 3/2019	1.00% (Affordable) · 5.00% (Standard) · 0% (Ready OC)	1% affordable rate requires carpet area ≤ 60 sq m (MMR) / 90 sq m (non-metro) AND value ≤ ₹45 lakh. Commercial under-construction is 12%.	Stamp Duty Calculator →
Property Purchase TDS (Above ₹50 Lakh)	Section 194-IA, Income-tax Act	1.00% (20.00% without valid PAN)	Deducted by buyer on every instalment when total consideration or stamp duty value is ₹50 lakh or more. Deposit via Form 26QB within 30 days from month-end.	194-IA TDS Calculator →
Maharashtra Mortgage Stamp Duty (MODT)	Article 6, Maharashtra Stamp Act	0.10% (≤ ₹5L) · 0.30% (> ₹5L, cap ₹20L)	Payable on Memorandum of Deposit of Title Deeds (equitable mortgage) for new loans and balance transfers.	MODT Calculator →
Notice of Intimation (Equitable Mortgage)	Section 89B, Registration Act (Maharashtra)	0.50% of loan (Capped at ₹15,000)	Must be filed within 30 days of mortgage creation; plus ₹1,000 e-filing handling charge where filed online via bank.	MODT Calculator →
CERSAI Security Interest Registration	SARFAESI Act, 2002 (CERSAI)	₹50 (≤ ₹5L) · ₹100 (> ₹5L) + 18% GST	Mandatory central registry filing for all mortgages and hypothecation charges.	MODT Calculator →
MahaRERA Separate Account Deposit & Withdrawal	RERA Sec. 4(2)(l)(D) & MahaRERA Order 56/2024	70% Mandatory Deposit	Withdrawals restricted to proportional % of completion certified concurrently in Form 1 (Architect), Form 2 (Engineer) and Form 3 (CA).	RERA 70% Calculator →
CGTMSE Collateral-Free MSME Guarantee	CGTMSE Revised Circular (w.e.f. 1 Apr 2025)	75%–90% Cover · 0.37%–1.35% p.a. AGF	Eligible collateral-free limit up to ₹10 crore per MSE borrower; up to 90% cover for women entrepreneurs and ZED-certified units.	CGTMSE Fee Calculator →
PMAY-Urban 2.0 Interest Subsidy Scheme (ISS)	MoHUA PMAY-U 2.0 Operational Guidelines	4.00% Subsidy on first ₹8L (Max NPV ₹1.80L)	For EWS/LIG/MIG first-time buyers (income ≤ ₹9L, loan ≤ ₹25L, property value ≤ ₹35L); disbursed in 5 equal instalments of ₹36,000.	PMAY-U 2.0 Calculator →
Floating-Rate Loan Prepayment / Foreclosure Fee	RBI Pre-payment Charges Directions, 2025	0% (Nil Penalty)	Zero foreclosure charge on floating-rate loans to individuals for non-business purposes and eligible MSE floating-rate loans.	Balance Transfer Tool →

Questions people ask

What is the current RBI Repo Rate and Bank Rate in October 2026?

Following the Monetary Policy Committee (MPC) decision on 7 October 2026, the RBI policy repo rate is 5.50% (up 25 basis points from 5.25%), the Standing Deposit Facility (SDF) rate is 5.25%, and both the Marginal Standing Facility (MSF) rate and the RBI Bank Rate are 5.75%.

What is the current MSME delayed payment interest rate under Section 16 of the MSMED Act?

Under Section 16 of the MSMED Act, 2006, a buyer who delays payment beyond the statutory 15/45-day period owes compound interest with monthly rests at three times the RBI Bank Rate. With the Bank Rate at 5.75% from 7 October 2026, the statutory MSMED delayed-payment interest rate is 17.25% per annum (up from 16.50% previously).

How quickly do repo-linked home loans and MSME loans change after an RBI rate move?

Under the RBI Interest Rates on Advances Directions, banks must reset external-benchmark-linked (EBLR / RLLR / RBLR) floating-rate loans at least once every three months. Some banks reset on the 1st of the month following the MPC announcement, while others reset on the borrower's quarterly anniversary date.

What is the difference between EBLR/RLLR and MCLR for business and project loans?

EBLR/RLLR is directly tied to an external benchmark such as the RBI Repo Rate (5.50%) plus a fixed bank spread and credit risk premium, applying to all floating retail loans and MSE loans. MCLR (Marginal Cost of Funds based Lending Rate) is an internal benchmark based on the bank's deposit and borrowing costs, commonly used for medium/large corporate term loans, LRD and construction finance.

What are the mortgage stamp duty (MODT) and Notice of Intimation charges on a loan in Maharashtra?

Under Article 6 of the Maharashtra Stamp Act, equitable mortgage (Deposit of Title Deeds) attracts stamp duty of 0.10% of the loan amount up to ₹5 lakh and 0.30% of the loan amount above ₹5 lakh (capped at ₹20 lakh). In addition, a Notice of Intimation / registration fee of 0.50% of the loan amount (capped at ₹15,000) plus ₹100 + 18% GST CERSAI charge applies on loans above ₹5 lakh.

Can I cite or embed Biz Corp Solutions' rate tables and calculators?

Yes. Financial journalists, Chartered Accountants, housing societies and researchers may freely cite the figures on this page with attribution to https://bizcorps.in/rates/, and any of our 23 calculators can be embedded on external websites using the 'Embed on your site' button on each calculator page.

Sources

RBI Monetary Policy Statement — October 7, 2026 (Repo rate raised 25 bps to 5.50%) — Reserve Bank of India (via TaxGuru)
RBI (Commercial Banks – Interest Rates on Advances) Directions, 2025 — Reserve Bank of India
Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 — Reserve Bank of India
Micro, Small and Medium Enterprises Development Act, 2006 (Sections 15 & 16) — Office of the Development Commissioner (MSME)
Department of Registration and Stamps (IGR Maharashtra) — Stamp Duty & Ready Reckoner — Government of Maharashtra
MahaRERA Order No. 56/2024 — Designated Separate Account Directions — Maharashtra Real Estate Regulatory Authority

This article is general information, not financial, legal or tax advice. Lender policies, interest rates and regulations change; eligibility and terms are decided by the lender. Speak to our team about your specific situation.

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