Vijaya Bank cuts term deposit rates by 5-50 bps

Bangalore-based public sector lender Vijaya Bank today announced 5-50 basis points reduction in interest rates on domestic term deposits in a move to bring down its cost of deposits.

The reduction is effected on six slabs of different maturity period starting from 46 days to 1 year in respect of deposits of Rs 1 crore and above with effect from July 3, 2014, the Bank said in a statement.