Vijaya Bank revises rates

Vijaya Bank has revised the rate of interest on domestic term deposits and home loans with effect from Monday. Taking into account the prevailing market trend and bank's own requirement, the bank has taken this step forward.

According to Vijaya Bank, the interest rates on term deposits has been increased across the board from the current 4 per cent for 15-45 days maturity period to 5 per cent to a maximum of 6.5 per cent for a period of more than 5 years.

The bank has also increased the interest on home loans from the existing 7 per cent for a five year period to a maximum of 8.5 per cent for a tenure of more than 10 years under the floating interest rate.

Under the fixed interest rate, the interest has been increased to 7.75 per cent from 7.50 per cent to a maximum of 9 per cent for a tenure of more than 10 years.