Vijaya Bank slashes lending rates
Bangalore, Feb 9: Public Sector Bank, Vijaya Bank, has reduced interest rates on a wide range of its loan schemes effective from February 15.
It
has
effected
a
25
bps
decline
in
floating
rate
on
its
housing
loans
up
to
Rs
20
lakh
to
nine
per
cent,
under
education
loan,
the
rate
of
interest
has
been
rationalized
and
brought
down
by
50
bps
to
11.5
per
cent,
a
bank
press
release
said
here
today.
Interest
rates
on
various
schemes
under
the
MSME
and
SGSY
sectors
have
also
been
brought
down
in
the
range
of
50-150
bps.Further,
the
Bank
has
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
have
been
revised
downward
by
100
bps.
Interest
rates
on
select
deposit
categories
have
also
been
rationalized
in
tune
with
the
ALM
requirements
and
for
improving
the
core
deposits
further.
UNI