Vijaya Bank launches long-term deposit

Vijaya Bank has launched a long-term deposit scheme titled 'Vijaya platinum Jubilee term deposit'.

The scheme, which comes into effect from July 1, 2006, offers a higher return to the depositors who are willing to invest their funds for a minimum period of five years, the bank said in a release.

Opting for the scheme, a depositor is entitled for an additional interest of 0.50 per cent a year, over the base rate applicable on term deposits of five years and above.