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Vijaya Bank unveils deposit scheme ‘V-Abhivriddhi’

11 Jan 2013 Evaluate

Vijaya Bank, a public sector lender has launched a deposit scheme ‘V-Abhivriddhi’, offering higher returns to depositors. The scheme is for a three-month period from January 01, 2013 to March 31, 2013.

The minimum amount of deposit is Rs 10 lakh and the maximum amount Rs 100 crore with a maturity period ranging from seven days to 180 days. The scheme does not attract any pre-closure penalty charges.

The bank has reported a fall of 39.38% in its net profit at Rs 123.37 crore for second quarter ended September 30, 2012 as compared to Rs 203.53 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.69% to Rs 2301.72 crore for quarter under review as compared to Rs 2098.33 crore for the quarter ended September 30, 2011.

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