State-owned Vijaya Bank has reduced home and car loans by up to 0.8 per cent (80 bps) to cash in on festive fervour.
The bank has also waived the processing fee for housing and car loans availed between October 1 and January 31, 2013.
Interest rates on home loans have been slashed by up to 0.8 per cent and prepayment and processing charges have been waived, Harideesh Kumar B, General Manager, Vijaya Bank said.
Besides, the interest rate on vehicle loans has been reduced by up to 0.30 per cent, he said.
Interest rate on home loan up to Rs 30 lakh with maturity period up to 10 years is available at 10.50 per cent against 10.75 per cent earlier.
The base rate or the minimum lending rate of the bank is 10.45 per cent.
Vehicle loan is available at the rate of 11 per cent for repayment period of 7 years, he said.
Besides, the bank has also introduced special fixed deposit scheme for one year period. The interest rate on V-Vaibhav is 9.30 per cent.
The bank has also launched V-Samman, a term deposit targeted at senior citizens with an interest rate of 9.95 per cent for one year period.