Vijaya Bank eyes Rs 800 cr business from festival schemes

Public sector Vijaya Bank today said it is eyeing business mobilisation of Rs 800 crore from its festival bonanza scheme from its Chandigarh region. "We are targeting deposit mobilisation of Rs 500 crore and lending to the tune of Rs 300 crore in festival bonanza scheme which is valid till January next year," bank's DGM Pradeep Naik told reporters here. 

Vijaya bank's Chandigarh region has 62 branches across Punjab, Haryana, Chandigarh, Jammu and Kashmir, Uttarakhand and Himachal Pradesh with total business size of Rs 5,500 crore. The bank is offering 9.30 per cent rate of interest and 9.75 per cent to senior citizens on deposits up to the deposits of Rs 10 crore for one year.

It is also offering advances to doctors and schools at lending rate of 12 per cent and 12.70 per cent respectively for loan up to Rs 1 crore. Apart from this, housing and vehicle loans are being offered at 10.50 per cent and 11 per cent respectively, he said.

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