Private sector lender Vijaya Bank has announced a hike in interest rates of fixed deposits. The revised rates have come into effect from yesterday, June 07, 2011.

Along with the existing deposit tenors, some new deposits of various maturities have been introduced by the bank too.

For deposits having tenor in the range of 1 year to less than 2 years, the interest rate would be 9.25% while it would be 9.35% for those having maturity between 2 years to less than 3 years.

Short term deposits have seen interest rates being hiked in the range of 25 to 50 bps.

Senior citizens would receive 50bps increased interest on all maturities.