Vijaya Bank reduces lending rates

Bangalore, Feb 9 (UNI) Public Sector Vijaya Bank will reduce the interest rates on a wide range of its loan schemes from February 15.

It had effected a 25 basis points cut decline in floating rate on its housing loans up to Rs 20 lakh to nine per cent. For education loan, the rate of interest had been rationalized and brought down by 50 basis points to 11.5 per cent, a release said here today.

Interest rates on various schemes under the MSME and SGSY sectors had also been brought down in the range of 50-150 basis points. The bank had also rationalized interest rates on its corporate vehicle loans at 10.5 per cent.

Under agricultural advances, interest rates on loans above Rs 50 lakh had been revised downward by 100 basis points.

Interest rates on select deposit categories had also been rationalized in tune with the ALM requirements and for improving the core deposits further.

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