• Vijaya Bank Fixed Deposit Schemes

    Vijaya Bank has now merged with Bank of Baroda and offers fixed deposit schemes with attractive interest rates and short-term to long-term tenures. There are no processing fees charged. Loan and overdraft facility is also available. Interest rates range from 2.90% p.a. to 5.30% p.a. for deposits up to Rs.2 crore. Senior citizens are offered an additional interest of 0.50% p.a.

    Vijaya Bank Fixed Deposits

    The term deposits of Vijaya Bank have the following features:

    • Loan or overdraft facility can be availed for up to 95% of the deposit amount
    • Deposit is accepted as security by the Government of India
    • Deposit is accepted as margin for non-fund based facilities
    • No penalty for premature payment for up to Rs.5 lakh deposit with a minimum 12-month period in the bank
    • Nomination facility available

    Fixed Deposit Schemes Offered By Vijaya Bank

    Vijaya Bank offers Short Deposits, Long Deposits, and Capital Gain Account Scheme 1988 under the fixed deposit category.

    Short Deposits:

    • High returns for tenures less than 1 year
    • Loan provided against 95% of deposit amount without processing fee, guarantor, or application forms
    • Loans against deposit provided starting from the 1-day tenure up to the maturity period
    • Recognised as security by government departments
    • Accepted for non-fund based facilities as margin
    • Nomination facility available

    Long Deposits

    Under Long Deposits, for a tenure ranging from 1 year to 10 years, the following schemes are available:

    • Advantage Fixed Deposits
      • Non-callable FDs
      • Minimum deposit amount of Rs.15,01,000
      • No maximum limit
      • Can be an individual, joint, or minor account
      • Can be opened by organisations or institutions deemed eligible as per the bank
    • Suvidha Fixed Deposit Scheme
      • Minimum amount of Rs.5,000 to open the account
      • For deposits above Rs.10,000 senior citizens get 0.50% additional interest
      • Loans against 95% of FD amount
      • Nomination facility available
      • Interest compounded quarterly and credited half-yearly
    • Regular Income Plan
      • Minimum Rs.1,000 to open the account
      • Interest credited quarterly
      • Nomination facility available
      • Withdrawals of up to 95% of deposit amount permitted
      • Easy liquidity
    • Monthly Income Plan
      • Minimum Rs.1,000 to open the account
      • Interest credited monthly
      • Additional 0.5% interest for senior citizens
      • Withdrawals of up to 95% of deposit amount permitted
      • On submission of Form 15G/15H, no TDS deducted
      • Can be auto-renewed for minimum of 12 months
    • Tax Saving Term Deposit
      • Individuals and HUFs are eligible
      • Tenure from 5 years to 10 years
      • Principal amount eligible for maximum tax deduction of Rs.1.5 lakh in a financial year
      • Interest earned is taxable
      • If income is not liable to tax, submission of Form 15G/15H ensures no TDS is deducted
      • Senior citizens get 0.5% extra interest
    • Capital Gain Account Scheme, 1988
      • Avail tax exemptions from your capital gains
      • Two types of accounts-savings and term deposit
      • Term deposit with minimum deposit amount of Rs.1,000
      • Term deposit with nomination facility
      • Tax exemption under Section 54 (F) (4) of Income Tax Act, 1961

    Main features of Vijaya Bank fixed deposit Schemes

    Fixed deposits held in Vijaya Bank offer many features to the customers like:

    • Nomination facility
    • Loans against fixed deposits
    • Attractive interest rates
    • Facility for invest in amounts greater than ₹ 200 Cr.
    • Tax benefits under section 80C
    • Tax benefits under section 54 (54B, 54D, 54F, or 54G)

    Vijaya Bank FD Eligibility

    Any individual who is a resident of India can open an FD account with Vijaya Bank. Certain institutions are also allowed to invest in FD schemes with Vijaya Bank.

    Vijaya Bank Fixed Deposits Interest Rates

    The interest rates offered by Vijaya Bank depend on the duration of the fixed deposit and can range from 2.90% per annum to 5.30% per annum. Apart from this they also provide special interest rates for senior citizens which is 0.50% above the prescribed rates.

    Vijaya Bank Fixed Deposits FAQ's

    1. What is the minimum amount required to open an FD account with Vijaya Bank?

      The minimum amount that can be deposited in an FD with Vijaya Bank depends on the scheme the depositor opts for but the minimum is Rs.1,000.

    2. What is the maximum amount that can be deposited in a Vijaya Bank FD account?

      There is no prescribed upper limit to how much can be deposited in an FD with Vijaya Bank.

    3. What is the minimum / maximum period for which funds can be held in as fixed deposits with Vijaya Bank?

      The minimum period for which funds can be held in an FD with the bank is 7 days and the maximum is 10 years.

    4. Does Vijaya Bank offer tax saver fixed deposits?

      Yes, the bank does offer tax saver fixed deposits. Deposits made under this scheme are eligible for tax benefits under section 80C of the Income Tax Act.

    5. Are FD accounts with Vijaya Bank taxable?

      Yes, interest earned on FDs held with the bank may incur tax deductions based on the prevailing IT rules. In case you are exempt from paying taxes, you can provide the appropriate supporting documents.

    6. Are loans provided against FDs at Vijaya Bank?

      Yes, Vijaya Bank does offer loans against term deposits held with the bank. These loans can be provided in the form of overdrafts also.

    7. Does Vijaya Bank offer senior citizens special rates on their fixed deposits?

      Yes, the bank offers senior citizens an extra interest rate of 0.50% above the applicable rates.

    8. Does Vijaya Bank issue credit cards against fixed deposits held at Vijaya Bank?

      Yes. The bank does offer credit cards against term deposits but the issuance of the card may depend on the type of term deposit you hold.

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    Vijaya Bank Fixed Deposit Reviews

    • Vijaya Bank
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a fixed deposit with the Vijaya Bank. I deposited 2 Lacs, the interest rate is 7.6 %, the tenure of the FD is 2 years. Comparatively the interest ate is low. I never faced any issues with their services.
      Was this review helpful? 12
      , ahmedabad
      Reviewed on Jul 28, 2018
    • Vijaya Bank
      Vijaya Bank
      "Happy service"
      0.5 4.0/5 "Great!"
      My fixed deposit account was maintained with Vijaya Bank. Its a one time investment of 3L. The branch is near to my place and they send the statements to my email address. They have guided me on online facilities, they were really helpful to me.
      Was this review helpful? 4
      , chennai
      Reviewed on Jan 02, 2018
    • Vijaya Bank
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Vijaya bank and the interest rate is around 6.5% and the customer service is good one , also they are nearby my locality and also the access is really friendly. Online services are good one with the Vijaya bank.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 09, 2017
    • Vijaya Bank
      "Better returns"
      0.5 4.0/5 "Great!"
      I have a Fixed deposit with Vijaya Bank. Their interest rates are good since its a nationalised bank. They gave me an interest rate of 9% before tax deductions and it is a one year scheme. Its highly recommendable being secure and yielding good returns.
      Was this review helpful? 4
      , secunderabad
      Reviewed on Mar 17, 2016
    • Vijaya Bank
      "Good Rate "
      0.5 3.0/5 "Satisfactory"
      Interest rate offer by viajay bank for the fixed deposit is 8.86% for the minimum lock in period of 12 months. In case the tenure is increased the interest rate will also increase. There is no activation charges. In case we break the tenure in between then interest will not be calculated. . Online facility is available.
      Was this review helpful? 14
      , mumbai
      Reviewed on Dec 31, 2015
    • Vijaya Bank
      "It is good"
      0.5 4.0/5 "Great!"
      Vijaya bank is the best one to have the fixed deposit because of the service like they used to listen customers properly. Rate of interest got reduced up to 8% as around, which is low. The minimum lock in period is around 24 months of time. Rather than rate of interest they are good.
      Was this review helpful? 8
      , lucknow
      Reviewed on Nov 04, 2015
    • Vijaya Bank
      0.5 4.0/5 "Great!"
      I have a Fixed deposit with Vijaya Bank and the rate of interest has been excellent. The services are always good. Prompt response I get in regards to this account as I have this account with them for the last 31 years.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 16, 2015
    • Vijaya Bank
      "Overall friendly services"
      0.5 4.0/5 "Great!"
      Vijaya bank services is good in terms of fixed deposit. I did approach this bank for my flexibility as the branch is nearby. For a year, the interest rate is 9.50% which is a compound interest rate. Through branch, i do the deposit and the returns are quite good. Overall it is a friendly services.
      Was this review helpful? 6
      , hubli
      Reviewed on Sep 06, 2014
    • Vijaya Bank
      "Fully Satisfied with Service"
      0.5 4.0/5 "Great!"
      Vijaya Bank Fixed Deposit i am using from past 10 years, best part is interest rate is good, i got my fixed deposit slip on time, i am having break up facility, customer service was very polite, they have good facilities, everything is fine with in 2 days i opened my fixed deposit account, there was no extra charges for opening fixed deposit.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jul 05, 2014
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