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Vijaya Bank Review

In the year 1931, Vijaya Bank was incorporated.in 1958, it acquired the status of scheduled bank.During the period of 1963-68, the bank got merged with other small nine banks thereby it became a nationalized bank in the year 1980 on April 15th .All over the country, it has 910 branches which are computerized.Among all these, 19 branches have ATM facilities.

OBJECTIVE:
The bank’s objective is to promote thrift, banking habit and entrepreneurship among the community of farming.

DEPOSIT SCHEME:
The bank offers the regular deposits such as current account, savings account.Apart from these deposits, it also provides a variety of term deposits to the customers of the bank. It also offers a scheme known as V-Star Savings Scheme which is an exclusive one.

V-Star Savings Scheme:
The bank provides two variety of loans under this scheme of saving.This scheme is for the depositors who have a monthly balance of minimum 5000 rupees during past 6 months.The interest rate is 1.5% lesser than the interest rate which is in the scheme.On the revolving basis, the current loans are extended.

Term Deposits:
1. Scheme of Recurring Deposit:Here the choice is left for the customers to choose whether it is variable or fixed monthly instalments.The period ranges from 6 months to 120 months with minimum of 10 rupees or its multiples.
2. VCC (Vijaya Cash Certificate):In this, with compound interest, it facilitates the customers to build capital.
3. Vijaya Stock Invest Deposit Scheme:In this account, by investing at 100 rupees, the customers are benefited by investing their money in shares and stocks.Partial amounts can be with drawn by the corresponding share holder.It is convenient, high-yielding and flexible.
4. Vijaya Shree units:The deposit amount is minimum 50 rupees. It ranges to a period of 15 days to 10 years.
5. Jeevan Nidhi:In this, collection of money is facilitated from door step.the deposit amount is minimum of 1 rupee.The deposit period may be 12 months or 39 months or 63 months.
6. Capital Gains Account Scheme:From Capital gains, to get the exemption benefit, this scheme helps a lot for an assessee of income tax.

CREDIT CARDS:
The credit cards offered by the bank are Classic, gold visa or master card, corporate card, international visa gold coins and global cards.

NRI SERVICES:
The services offered to the NRIs by the bank are NRE, non resident ordinary account, FCNR(B), RFC account.

LOANS PROVIDED FOR THE NRIs:
The loans given to the NRIs are loans against securities,shares and immovable properties and housing loan.