Date:10/02/2008 URL: http://www.thehindu.com/2008/02/10/stories/2008021050130600.htm

Karnataka - Bangalore

Vijaya Bank slashes lending rates

Special Correspondent

BANGALORE: Bangalore-based Vijaya Bank has reduced interest rates on a wide range of its loan schemes, effective from February 15 . The bank has given a 25 basic points reduction in the floating rate (nine per cent) on its housing loans up to Rs. 20 lakh.

For its education loans the rate of interest has been rationalised and brought down by 50 basic points to 11.5 per cent.

Interest rates on various schemes under Micro Small and Medium Enterprises (MSME) and Swarnajayanthi Grama Swarozgar Yojana (SGSY) sectors have been brought down in the range of 50-150 basic points.

The bank has rationalised interest rates on its corporate vehicle loans at 10.5 per cent. Under agricultural rates on loans above Rs. 50 lakh have been revised by 100 basic points.