ABOUT VIJAYA BANK
Vijaya Bank, was established on 23rd October 1931 by late Shri.A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. The objective behind establishment of the Bank was essentially to promote banking habit, thrift and entrepreneurship among the farming community of Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958.
During 1963-68, nine smaller banks merged with Vijaya Bank and the Bank steadily grew into a large All India bank. Vijaya Bank was nationalized on April 15, 980 and today the bank has a network of 913 branches that span all 28 states and 3 union territories in the country. Vijaya bank has been constantly focusing on technological upgradation. As on October 2005 ,all the 913 branches have been computerised, covering 97% of the bank's total business.
The Bank has diversified into new areas such as credit card, merchant banking, hire purchase and leasing, and electronic remittance services. Vajiya Bank is one of the few banks in the country to take up principal membership of VISA International and master card international.
Vijaya Bank has expertised at understanding customer needs and mapping them against its wide range of superior products, which given the Vijaya Bank a comprehensive edge in the market place. It has offered and continues to offer innovation banking options coupled with value added services in the Indian banking industry.
Vajaya Bank's mission is to generate consistent and sustainable returns for its customers. To achieve this objective Bank continues to practice the values that stand at the core of its professional philosophy. Excellence in banking techniques along with the best of personnel in the industry allows it to achieve consistent top quality in all its endeavors.
HISTORICAL BACKGROUND OF VIJAYA BANK:
YEAR EVENTS 1980 - The Bank came into existence on 15th April as a consequence of the Government of India taking over the undertaking of Vijaya Bank Ltd. The Bank is engaged it transacts all types of banking business including foreign exchange and it is a Government undertaking.
In the year 1984 - Capital worth Rs.10 lakhs was subscribed by Government of India.
In1985 - The Bank sponsored its first Regional Rural Bank under the name and style "Visweswaraya Grameena Bank" in March. This Regional Rural Bank would cater to the needs of the target group belonging to Mandya district of Karnataka State. The government has subscribed Vijaya Bank capital worth Rs.772 lakh in the year 1985 and Rs.1000 lakh in the year 1986 and Rs.800 lakh in 1989 and Rs.2500 lakh in the year 1991 and Rs.2500 lakh in 1992. The novel scheme of `Vijaya Vichar Vihar' was introduced by the Bank in 1989 and is now flourishing in 25 centres as on March. In October a new and unique scheme viz. 'VIJAYASHREE UNITS DEPOSIT SCHEME' combining the features of term deposit and the flexibility of savings bank deposit was launched.
The Bank introduced ‘Vijaya Stockinvest’ scheme in May. To make it more investor friendly the special features of Vijaya Shree Units Scheme were incorporated to this scheme and the scheme is gaining in popularity among the investing public.
The Government has subscribed Rs 5000 lakhs in the year 1993. The Bank has installed 68 ALPMs in 25 branches. The 'Vijaya Bank Diamond Jubilee Scholarship Scheme' was introduced as a part of Diamond Jubilee Celebrations of the Bank with the objective of awarding scholarships to its permanent employees children.
1994 - Rs 6500 lakhs subscribed by Government. The Bank had entered into the Memorandum of Understanding with the Reserve Bank of India undertaking to fulfill definite performance commitments. The Bank introduced the new schemes viz. Vijaya Gift Bond Scheme and Vijaya Service Card for enlarging its services to its business clientele. The Bank introduced three new loan schemes viz. V-Cash meant for salaried class V-Equip for professionals and V-Stock for individual investors.
The Bank launched its "V-Invest" Scheme in January. 1995. Vijaya Bank introduced three new loan schemes namely 'Vijaya Nivruthi' 'Vijaya Krishi Vikas' and 'Vijaya Mangala' to cater to the credit needs of pensioners farmers and working women respectively.
1997 - Vijaya Bank has introduced a novel way to improve customer service. Vijaya Bank has launched a special agriculture credit plan targeted specifically at agriculture and other rural advances. The bank launched the ‘special loan recovery motivation scheme’.
1998 - Vijaya bank has introduced a jewel scheme under which loans are granted by the bank to fund the purchase of Jewellery by keeping the purchased item as collateral till the loan has been repaid. The Bank has entered into domestic correspondent Banking arrangements with various private sector banks and foreign banks.
1999 - Vijaya Bank has entered into a Rs.200-crore take-out financing agreement with the and Urban Development Corporation (Hudco) for funding infrastructure projects. The Housing and Urban Development Corporation (Hudco) has entered into a three-year reversible securitisation deal with the public sector Vijaya Bank to raise funds for meeting some of its infrastructure financing commitments.
2000 - Vijaya Bank has introduced a new scheme named V-Star savings bank account scheme. Vijaya Bank is increasing its focus on technology and given the VRS pressure on its HR the bank set up more networked ATMs.
2003 -Vijaya Bank signs a pact with LIC to offer Life insurance cover to all its existing as well as its new deposit-holders. -Vijaya Bank has named its merchant bankers for its public issue amounting to Rs.100cr and slated to be released from the next month.
Bank has decided to amalgamate its own subsidiary VIBANK Housing Finance Ltd. Vijaya Bank has opened a Kiosk that is exclusively for retail lending at its Ashoknagar Branch in Mangalore. Bank has signed MoU with Punjab National Bank and Principal Financial Group of USA for a joint venture participation in Asset Management Company. Vijaya Bank decides to open training centre for employees in Bangalore. The Union government has bought back Rs.240-crore high-yielding government securities from Vijaya Bank.
2004 - Vijaya Bank has entered into a memorandum of understanding (MoU) with two tractor manufacturers International Tractors and Mahindra Gujarat Tractors to provide finance on softer terms to farmers for purchase tractors and power tillers VIJAYA Bank signs pact with Nabard to co-finance agriculture agro processing hi-tech agriculture and rural development projects. Vijaya Bank launched the bank's second city specific credit card - the 'Hyderabad Card'. The branch of Bangalore-based Vijaya Bank has launched a new credit facility for farmers who are caught up in the clutches of private money-lenders and help them to improve their financial status.
Vijaya Bank ties up with New Holland Tractors .and also Vijaya Bank ties up with National Insurance company.
In the year 2005 Vijaya Bank ties up with TAFE.
In the year 2008 Vijaya Bank signed a memorandum of understanding with credit rating agency Crisil for rating its corporate customers.
Vijaya Bank has inked a pact with Credit Analysis & Research Ltd (CARE) one of the RBI accredited rating agency to provide bank loan ratings to its corporate clients at a concessional fee.
VIJAYA BANK VARIOUS SCHEMES
V-EQUIP Scheme:
A convenient finance scheme, the V-Equip loan can be availed to purchase consumer durables such as Computers, Refrigerators, Televisions, Air conditioners, equipments, domestic appliances, etc.
Purpose For purchase of consumer durables like Refrigerator, Air-conditioner, Furniture, Kitchen appliances, Vacuum cleaner, Electrical appliances, Home appliances, Solar water heater, Sound system, Television, CD/VCD Players, Personal computer, Portable generator, Electric motor etc. and Equipments required for professional and self employed persons.
Eligibility
Salaried persons satisfying the following conditions
Individual aged between 21 years and 60 years
He / She is a permanent employee of :
State / Central Government, the Defence / Police force or Autonomous Body.
A public sector / joint sector undertaking or a Corporation.
Reputed Public Limited Company.
An established education institution / aided college / school.
Any private establishment
V Swashakti
Objective
To expand the employment and Income Generating Schemes and Programme so as to make women Self-reliant and economically independent.
Purpose
Offering assistance to Women Entrepreneurs for economic pursuits in Small Business, Professional or Self Employment and Retail Trade and Credit facilities to Women Entrepreneurs (Term Loan / Working capital) for like Tailoring, Canteen and Catering, Pickle and Masala Making, Clinics, Papad Making, Beauty Parlous, Crèche and Playschool, Tuitions and Coaching Class, Library, Ceramics, Departmental Stores, Handicrafts, Medical Shop, Counseling, Doctors / Chartered Accountants, Candle Making, Health Center, Laundry, Bakery, florist, Travel Agency and Milk Booth.
Eligibility
Women above 18 years are eligible
Only to Resident individuals who are customers. In case of non-customers of our bank, the applicant /s should open an account with our bank by complying with the norms required for opening the account.
Loans can be availed by women for both proprietary / partnership firms.
If the business is on partnership basis the contribution of the women should be more than 51 percent.
V-Rakshak Scheme
V-Rakshak scheme is for serving and retired Defense personnel
Objective
An honour in recognition and appreciation of the role of Defence Personnel to the nation. The purpose of the scheme is to meet the credit needs of the Defence Personnel (serving / retired) for purchase of consumer durable/ motor vehicles, for meeting any type of household expenses such as repairs/ renovations of the house, educational / marriage/ medical expenses/ family functions, etc/ traveling expenses in India and abroad, etc.
Eligibility
Defence Personnel above the age of 21 years are eligible.
All retired and in service Defence Personnel not more than 65 years of age.
Pension/ salary should be routed through the account with Vijaya Bank.
Trade Finance
Eligibility
Individuals / proprietary concerns / partnership firms, private limited companies or any legal entity engaged in business - retail trade, distributors, stockiests, commission agents, etc., are eligible for finance under this scheme, for a period of 1 year, with the provision for yearly renewal.
Quantum of finance
Need based credit limit subject to a maximum of Rs 25 lakhs.
Nature of Loan: Cash credit
Guarantor
A guarantor acceptable to the bank. Repayment scheme will before a period of 3years subject to review every year.
Vijaya Tax Savings Scheme
Tax benefit scheme the term deposit In the light of the Notification issued by the Government of India, treating the bank Term Deposit as an approved form of investment to get qualified for benefits U/s.80C of the Income Tax Act 1961, Vijaya Bank now launches a new term deposit scheme called ‘VIJAYA TAX SAVINGS SCHEME’ effective form 18.8.2006. The highlights of the scheme are as follows:
Deposits are accepted for a period of 5 years only
Rate of interest is 8.50% p.a. Senior citizens are entitled for an interest rate of 9.00% p.a.
Depositor can opt for either cumulative or non-cumulative way of crediting periodical interest.
Depositor gets benefit U/s.80C of the Income Tax Act. 1961
Minimum deposit is Rs.100 and in multiples thereof
Maximum deposit in a Financial Year Rs.1,00,000/- [i.e., 1st April to 31st March of the following calendar year]
Deposits cannot be withdrawn prematurely
Deposits cannot be pledged to secure loan or as security
V-RENT
Eligibility
Owners of the property who have let out the same to reputed Companies, Commercial / Industrial, Software, Multinational companies, Banks, reputed institutions, etc. This loan is available to the owners (lessors) of the property only. Loan Amount above Rupees One lakh - In the case of immovable property, a margin of 25 % be maintained, whereas in respect of other liquid securities, it should cover the loan amount.
V-Reverse Mortgage Loan Scheme
Objective
To meet the financial needs of senior citizens owning self acquired and self occupied house property
Purpose of Loan
For generating cash flow/to supplement pension/other income for day to day requirements, renovation/up gradation of house, to meet medical expenses, and for repayment of outside institutional liabilities.
Eligibility for loan
Should be a Senior Citizen of India, (above 60 years of age) as on the date of application. Married couples will be eligible as joint Borrowers, subject to at least one of them being 'above 60 years of age' and the age difference not being more than 10 years between them.
Should be the owner of a self-acquired, self-occupied residential property (house or flat) located in India, with clear, marketable title and free from any encumbrances. Loan is not available against ancestral property or commercial property.
V Wheels
The purpose of this scheme is for the purchase of new two-wheeler / motorcar of any make for private use or professional or business use. For the purchase of second hand / used two-wheeler / motorcar of not more than 5 years old.
Eligibility
Salaried persons satisfying the following conditions
Individual aged between 21 years and 60 years
He / She is a permanent employee of :
State / Central Government, the Defence / Police force or Autonomous Body.
A public sector / joint sector undertaking or a Corporation.
Reputed Public Limited Company.
An established education institution / aided college / school.
Any private establishment
He / She has a minimum service, so as to ensure that the entire liability is liquidated at least one year prior to his / her retirement.
He / She should have sufficient net take home salary to serve the present loan applied for corporate Clients & Partnership Firms
V-Arogya Bima Policy
V-Arogya Bima Policy is an ATTRACTIVE HEALTH CUM ACCIDENT POLICY EXCLUSIVELY FOR VIJAYA BANK ACCOUNT HOLDERS; Health Care is important in every one's life and "Health Care for All" is one of the most important priorities of the Government of India. With this in view, we have devised a unique insurance product by name "V-Arogya Bima Policy in association with National Insurance Company Ltd.
Features:
Hospitalization Expenses of Account Holder and family members (self, spouse and 2 dependent children below 21 years) under the floater policy.
Floater policy means any one or all family members can avail hospitalization benefits during the policy period upto the sum insured opted.
Sum Insured: Rs.50,000/- to Rs.5,00,000/-.
Ambulance Charges payable.
Out of Pocket Expenses payable for hospitalization of children below 12 years.
Out of Pocket Expenses payable for hospitalization of children below 12 years.
Pre existing Diseases covered from 4th year onwards.
No medical examination.
Premium eligible for relief under Sec. 80 D of Income Tax Act.
Cashless access through Third Party Administrators in over 1500 hospitals all over India .
Personal Accident cover for entire family against payment of Rs.22.00 (for Rs.1.00 lakh per Year) for each individual.
Age of the insured: 5 years to 65 years.
Vijaya Raksha policy
A Life Insurance Scheme for Vijaya Bank Deposit Holders.
Life cover – Rs.1 lakh
Death due to accident – Rs. 2 lakhs
Cost effective and convenient
Life insurance cover up to 55 years of age
No medical examination (only declaration of good health)
Premium payment by debit to your account
Premium for 18 – 44 years of age Rs. 325/- per annum
Premium payment for 45-54 years of age Rs. 575/-per annum
Simple claim settlement process
Benefits payable to the nominee as given in the consent letter
Tax rebate under section 88 of Income Tax Act
Vijay Bank offers life insurance cover namely Vijaya Raksha to its deposit holders under a tie-up arrangement with Life Insurance Company of India
Nature of the Scheme
The scheme offers Pure Term Insurance Cover under One Year Renewal Term Assurance Plan. The scheme covers risk of death only. Eligibility Any person who holds a personal account (including Fixed Deposit, Savings and Current accounts) and aged between 18 to 54 years is eligible for this scheme. The cover begins on completion of 18 years of age and ends at 55 years of age. Members suffering from critical illness* are not eligible to join the scheme. * Critical illness is defined as follows : The applicant should not have suffered from AIDS, cancer, conditions requiring open heart surgery, history of typical chest pain, kidney failure, brain stroke, paralysis or having undergone a major organ transplantation such as heart, lung, liver or kidney. If the applicant had suffered from any of the above critical illnesses, he /she is not eligible to join the scheme.
Government Sponsored Scheme:
Golden Jubilee Rural Housing Scheme
The salient features of the scheme are outlined below Objective
The objective of the scheme is to address the problems of Rural Housing through improved access of housing credit which would enable an individual to build a modest new house or improve or add to his existing dwelling unit in rural area. Operational Area is Rural area for the purpose of the scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50,000 as per 1991 census.
Quantum of Loan
Up to Rs. 5.00 lakhs for construction of new dwelling unit and up to Rs.50,000/- for up-gradation / major repairs.
Prime Minister's Rozgar Yojana (PMRY)
The gist of PMRY Scheme guidelines is given below
All educated unemployed youth in the age group of 18-35 years in general (40 years for North-Eastern Region); 10-years relaxation in the age group for SC/STs, ex-servicemen, physically handicapped and women. i.e., up to the age of 45 years. Those who have passed 8th standards and preference is given to those who have been trained for any trade in Government recognized / approved institutions for a duration of at least six months. The Family income of the beneficiary along with that of his spouse and parents shall not exceed Rs.1,00,000/- p.a.
Swarna Jayanti Gram Swarozgar Yojana (SGSY)
The gist of SGSY Scheme guidelines is given below Launching
A new programme known as Swarnjayanthi Gram Swarozgar Yojana has been launched from 1.4.99.This is a holistic programme covering all aspects of self employment such as organisation of the poor into Self Help Groups, training, credit, technology, infrastructure and marketing. With the introduction of this scheme, the earlier programmes viz., IRDP, TRYSEM, DWCRA, SITRA, GKY and MWS are discontinued.
Eligibility
The list of Below Poverty Line (BPL) households identified through BPL census, duly approved by the Gram Sabha will form the basis for identification of families for assistance under this scheme. The beneficiaries are known as ‘SWAROZGARIS”. The Swarozgaris may either be individuals or groups. SGSY lays emphasis on the group approach, under which the rural poor are organised into SGSY Groups. The Swarozgar is would be selected from the BPL families by a three-member team consisting of BDO, Banker and Sarpanch.
These are the facilities available in Vijaya Bank in Karnataka Please meet your nearest Vijaya Bank and get the all facilities from bank, because the interest rates are very low and facilities are more.
Vijaya Bank, was established on 23rd October 1931 by late Shri.A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. The objective behind establishment of the Bank was essentially to promote banking habit, thrift and entrepreneurship among the farming community of Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958.
During 1963-68, nine smaller banks merged with Vijaya Bank and the Bank steadily grew into a large All India bank. Vijaya Bank was nationalized on April 15, 980 and today the bank has a network of 913 branches that span all 28 states and 3 union territories in the country. Vijaya bank has been constantly focusing on technological upgradation. As on October 2005 ,all the 913 branches have been computerised, covering 97% of the bank's total business.
The Bank has diversified into new areas such as credit card, merchant banking, hire purchase and leasing, and electronic remittance services. Vajiya Bank is one of the few banks in the country to take up principal membership of VISA International and master card international.
Vijaya Bank has expertised at understanding customer needs and mapping them against its wide range of superior products, which given the Vijaya Bank a comprehensive edge in the market place. It has offered and continues to offer innovation banking options coupled with value added services in the Indian banking industry.
Vajaya Bank's mission is to generate consistent and sustainable returns for its customers. To achieve this objective Bank continues to practice the values that stand at the core of its professional philosophy. Excellence in banking techniques along with the best of personnel in the industry allows it to achieve consistent top quality in all its endeavors.
HISTORICAL BACKGROUND OF VIJAYA BANK:
YEAR EVENTS 1980 - The Bank came into existence on 15th April as a consequence of the Government of India taking over the undertaking of Vijaya Bank Ltd. The Bank is engaged it transacts all types of banking business including foreign exchange and it is a Government undertaking.
In the year 1984 - Capital worth Rs.10 lakhs was subscribed by Government of India.
In1985 - The Bank sponsored its first Regional Rural Bank under the name and style "Visweswaraya Grameena Bank" in March. This Regional Rural Bank would cater to the needs of the target group belonging to Mandya district of Karnataka State. The government has subscribed Vijaya Bank capital worth Rs.772 lakh in the year 1985 and Rs.1000 lakh in the year 1986 and Rs.800 lakh in 1989 and Rs.2500 lakh in the year 1991 and Rs.2500 lakh in 1992. The novel scheme of `Vijaya Vichar Vihar' was introduced by the Bank in 1989 and is now flourishing in 25 centres as on March. In October a new and unique scheme viz. 'VIJAYASHREE UNITS DEPOSIT SCHEME' combining the features of term deposit and the flexibility of savings bank deposit was launched.
The Bank introduced ‘Vijaya Stockinvest’ scheme in May. To make it more investor friendly the special features of Vijaya Shree Units Scheme were incorporated to this scheme and the scheme is gaining in popularity among the investing public.
The Government has subscribed Rs 5000 lakhs in the year 1993. The Bank has installed 68 ALPMs in 25 branches. The 'Vijaya Bank Diamond Jubilee Scholarship Scheme' was introduced as a part of Diamond Jubilee Celebrations of the Bank with the objective of awarding scholarships to its permanent employees children.
1994 - Rs 6500 lakhs subscribed by Government. The Bank had entered into the Memorandum of Understanding with the Reserve Bank of India undertaking to fulfill definite performance commitments. The Bank introduced the new schemes viz. Vijaya Gift Bond Scheme and Vijaya Service Card for enlarging its services to its business clientele. The Bank introduced three new loan schemes viz. V-Cash meant for salaried class V-Equip for professionals and V-Stock for individual investors.
The Bank launched its "V-Invest" Scheme in January. 1995. Vijaya Bank introduced three new loan schemes namely 'Vijaya Nivruthi' 'Vijaya Krishi Vikas' and 'Vijaya Mangala' to cater to the credit needs of pensioners farmers and working women respectively.
1997 - Vijaya Bank has introduced a novel way to improve customer service. Vijaya Bank has launched a special agriculture credit plan targeted specifically at agriculture and other rural advances. The bank launched the ‘special loan recovery motivation scheme’.
1998 - Vijaya bank has introduced a jewel scheme under which loans are granted by the bank to fund the purchase of Jewellery by keeping the purchased item as collateral till the loan has been repaid. The Bank has entered into domestic correspondent Banking arrangements with various private sector banks and foreign banks.
1999 - Vijaya Bank has entered into a Rs.200-crore take-out financing agreement with the and Urban Development Corporation (Hudco) for funding infrastructure projects. The Housing and Urban Development Corporation (Hudco) has entered into a three-year reversible securitisation deal with the public sector Vijaya Bank to raise funds for meeting some of its infrastructure financing commitments.
2000 - Vijaya Bank has introduced a new scheme named V-Star savings bank account scheme. Vijaya Bank is increasing its focus on technology and given the VRS pressure on its HR the bank set up more networked ATMs.
2003 -Vijaya Bank signs a pact with LIC to offer Life insurance cover to all its existing as well as its new deposit-holders. -Vijaya Bank has named its merchant bankers for its public issue amounting to Rs.100cr and slated to be released from the next month.
Bank has decided to amalgamate its own subsidiary VIBANK Housing Finance Ltd. Vijaya Bank has opened a Kiosk that is exclusively for retail lending at its Ashoknagar Branch in Mangalore. Bank has signed MoU with Punjab National Bank and Principal Financial Group of USA for a joint venture participation in Asset Management Company. Vijaya Bank decides to open training centre for employees in Bangalore. The Union government has bought back Rs.240-crore high-yielding government securities from Vijaya Bank.
2004 - Vijaya Bank has entered into a memorandum of understanding (MoU) with two tractor manufacturers International Tractors and Mahindra Gujarat Tractors to provide finance on softer terms to farmers for purchase tractors and power tillers VIJAYA Bank signs pact with Nabard to co-finance agriculture agro processing hi-tech agriculture and rural development projects. Vijaya Bank launched the bank's second city specific credit card - the 'Hyderabad Card'. The branch of Bangalore-based Vijaya Bank has launched a new credit facility for farmers who are caught up in the clutches of private money-lenders and help them to improve their financial status.
Vijaya Bank ties up with New Holland Tractors .and also Vijaya Bank ties up with National Insurance company.
In the year 2005 Vijaya Bank ties up with TAFE.
In the year 2008 Vijaya Bank signed a memorandum of understanding with credit rating agency Crisil for rating its corporate customers.
Vijaya Bank has inked a pact with Credit Analysis & Research Ltd (CARE) one of the RBI accredited rating agency to provide bank loan ratings to its corporate clients at a concessional fee.
VIJAYA BANK VARIOUS SCHEMES
V-EQUIP Scheme:
A convenient finance scheme, the V-Equip loan can be availed to purchase consumer durables such as Computers, Refrigerators, Televisions, Air conditioners, equipments, domestic appliances, etc.
Purpose For purchase of consumer durables like Refrigerator, Air-conditioner, Furniture, Kitchen appliances, Vacuum cleaner, Electrical appliances, Home appliances, Solar water heater, Sound system, Television, CD/VCD Players, Personal computer, Portable generator, Electric motor etc. and Equipments required for professional and self employed persons.
Eligibility
Salaried persons satisfying the following conditions
Individual aged between 21 years and 60 years
He / She is a permanent employee of :
State / Central Government, the Defence / Police force or Autonomous Body.
A public sector / joint sector undertaking or a Corporation.
Reputed Public Limited Company.
An established education institution / aided college / school.
Any private establishment
V Swashakti
Objective
To expand the employment and Income Generating Schemes and Programme so as to make women Self-reliant and economically independent.
Purpose
Offering assistance to Women Entrepreneurs for economic pursuits in Small Business, Professional or Self Employment and Retail Trade and Credit facilities to Women Entrepreneurs (Term Loan / Working capital) for like Tailoring, Canteen and Catering, Pickle and Masala Making, Clinics, Papad Making, Beauty Parlous, Crèche and Playschool, Tuitions and Coaching Class, Library, Ceramics, Departmental Stores, Handicrafts, Medical Shop, Counseling, Doctors / Chartered Accountants, Candle Making, Health Center, Laundry, Bakery, florist, Travel Agency and Milk Booth.
Eligibility
Women above 18 years are eligible
Only to Resident individuals who are customers. In case of non-customers of our bank, the applicant /s should open an account with our bank by complying with the norms required for opening the account.
Loans can be availed by women for both proprietary / partnership firms.
If the business is on partnership basis the contribution of the women should be more than 51 percent.
V-Rakshak Scheme
V-Rakshak scheme is for serving and retired Defense personnel
Objective
An honour in recognition and appreciation of the role of Defence Personnel to the nation. The purpose of the scheme is to meet the credit needs of the Defence Personnel (serving / retired) for purchase of consumer durable/ motor vehicles, for meeting any type of household expenses such as repairs/ renovations of the house, educational / marriage/ medical expenses/ family functions, etc/ traveling expenses in India and abroad, etc.
Eligibility
Defence Personnel above the age of 21 years are eligible.
All retired and in service Defence Personnel not more than 65 years of age.
Pension/ salary should be routed through the account with Vijaya Bank.
Trade Finance
Eligibility
Individuals / proprietary concerns / partnership firms, private limited companies or any legal entity engaged in business - retail trade, distributors, stockiests, commission agents, etc., are eligible for finance under this scheme, for a period of 1 year, with the provision for yearly renewal.
Quantum of finance
Need based credit limit subject to a maximum of Rs 25 lakhs.
Nature of Loan: Cash credit
Guarantor
A guarantor acceptable to the bank. Repayment scheme will before a period of 3years subject to review every year.
Vijaya Tax Savings Scheme
Tax benefit scheme the term deposit In the light of the Notification issued by the Government of India, treating the bank Term Deposit as an approved form of investment to get qualified for benefits U/s.80C of the Income Tax Act 1961, Vijaya Bank now launches a new term deposit scheme called ‘VIJAYA TAX SAVINGS SCHEME’ effective form 18.8.2006. The highlights of the scheme are as follows:
Deposits are accepted for a period of 5 years only
Rate of interest is 8.50% p.a. Senior citizens are entitled for an interest rate of 9.00% p.a.
Depositor can opt for either cumulative or non-cumulative way of crediting periodical interest.
Depositor gets benefit U/s.80C of the Income Tax Act. 1961
Minimum deposit is Rs.100 and in multiples thereof
Maximum deposit in a Financial Year Rs.1,00,000/- [i.e., 1st April to 31st March of the following calendar year]
Deposits cannot be withdrawn prematurely
Deposits cannot be pledged to secure loan or as security
V-RENT
Eligibility
Owners of the property who have let out the same to reputed Companies, Commercial / Industrial, Software, Multinational companies, Banks, reputed institutions, etc. This loan is available to the owners (lessors) of the property only. Loan Amount above Rupees One lakh - In the case of immovable property, a margin of 25 % be maintained, whereas in respect of other liquid securities, it should cover the loan amount.
V-Reverse Mortgage Loan Scheme
Objective
To meet the financial needs of senior citizens owning self acquired and self occupied house property
Purpose of Loan
For generating cash flow/to supplement pension/other income for day to day requirements, renovation/up gradation of house, to meet medical expenses, and for repayment of outside institutional liabilities.
Eligibility for loan
Should be a Senior Citizen of India, (above 60 years of age) as on the date of application. Married couples will be eligible as joint Borrowers, subject to at least one of them being 'above 60 years of age' and the age difference not being more than 10 years between them.
Should be the owner of a self-acquired, self-occupied residential property (house or flat) located in India, with clear, marketable title and free from any encumbrances. Loan is not available against ancestral property or commercial property.
V Wheels
The purpose of this scheme is for the purchase of new two-wheeler / motorcar of any make for private use or professional or business use. For the purchase of second hand / used two-wheeler / motorcar of not more than 5 years old.
Eligibility
Salaried persons satisfying the following conditions
Individual aged between 21 years and 60 years
He / She is a permanent employee of :
State / Central Government, the Defence / Police force or Autonomous Body.
A public sector / joint sector undertaking or a Corporation.
Reputed Public Limited Company.
An established education institution / aided college / school.
Any private establishment
He / She has a minimum service, so as to ensure that the entire liability is liquidated at least one year prior to his / her retirement.
He / She should have sufficient net take home salary to serve the present loan applied for corporate Clients & Partnership Firms
V-Arogya Bima Policy
V-Arogya Bima Policy is an ATTRACTIVE HEALTH CUM ACCIDENT POLICY EXCLUSIVELY FOR VIJAYA BANK ACCOUNT HOLDERS; Health Care is important in every one's life and "Health Care for All" is one of the most important priorities of the Government of India. With this in view, we have devised a unique insurance product by name "V-Arogya Bima Policy in association with National Insurance Company Ltd.
Features:
Hospitalization Expenses of Account Holder and family members (self, spouse and 2 dependent children below 21 years) under the floater policy.
Floater policy means any one or all family members can avail hospitalization benefits during the policy period upto the sum insured opted.
Sum Insured: Rs.50,000/- to Rs.5,00,000/-.
Ambulance Charges payable.
Out of Pocket Expenses payable for hospitalization of children below 12 years.
Out of Pocket Expenses payable for hospitalization of children below 12 years.
Pre existing Diseases covered from 4th year onwards.
No medical examination.
Premium eligible for relief under Sec. 80 D of Income Tax Act.
Cashless access through Third Party Administrators in over 1500 hospitals all over India .
Personal Accident cover for entire family against payment of Rs.22.00 (for Rs.1.00 lakh per Year) for each individual.
Age of the insured: 5 years to 65 years.
Vijaya Raksha policy
A Life Insurance Scheme for Vijaya Bank Deposit Holders.
Life cover – Rs.1 lakh
Death due to accident – Rs. 2 lakhs
Cost effective and convenient
Life insurance cover up to 55 years of age
No medical examination (only declaration of good health)
Premium payment by debit to your account
Premium for 18 – 44 years of age Rs. 325/- per annum
Premium payment for 45-54 years of age Rs. 575/-per annum
Simple claim settlement process
Benefits payable to the nominee as given in the consent letter
Tax rebate under section 88 of Income Tax Act
Vijay Bank offers life insurance cover namely Vijaya Raksha to its deposit holders under a tie-up arrangement with Life Insurance Company of India
Nature of the Scheme
The scheme offers Pure Term Insurance Cover under One Year Renewal Term Assurance Plan. The scheme covers risk of death only. Eligibility Any person who holds a personal account (including Fixed Deposit, Savings and Current accounts) and aged between 18 to 54 years is eligible for this scheme. The cover begins on completion of 18 years of age and ends at 55 years of age. Members suffering from critical illness* are not eligible to join the scheme. * Critical illness is defined as follows : The applicant should not have suffered from AIDS, cancer, conditions requiring open heart surgery, history of typical chest pain, kidney failure, brain stroke, paralysis or having undergone a major organ transplantation such as heart, lung, liver or kidney. If the applicant had suffered from any of the above critical illnesses, he /she is not eligible to join the scheme.
Government Sponsored Scheme:
Golden Jubilee Rural Housing Scheme
The salient features of the scheme are outlined below Objective
The objective of the scheme is to address the problems of Rural Housing through improved access of housing credit which would enable an individual to build a modest new house or improve or add to his existing dwelling unit in rural area. Operational Area is Rural area for the purpose of the scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50,000 as per 1991 census.
Quantum of Loan
Up to Rs. 5.00 lakhs for construction of new dwelling unit and up to Rs.50,000/- for up-gradation / major repairs.
Prime Minister's Rozgar Yojana (PMRY)
The gist of PMRY Scheme guidelines is given below
All educated unemployed youth in the age group of 18-35 years in general (40 years for North-Eastern Region); 10-years relaxation in the age group for SC/STs, ex-servicemen, physically handicapped and women. i.e., up to the age of 45 years. Those who have passed 8th standards and preference is given to those who have been trained for any trade in Government recognized / approved institutions for a duration of at least six months. The Family income of the beneficiary along with that of his spouse and parents shall not exceed Rs.1,00,000/- p.a.
Swarna Jayanti Gram Swarozgar Yojana (SGSY)
The gist of SGSY Scheme guidelines is given below Launching
A new programme known as Swarnjayanthi Gram Swarozgar Yojana has been launched from 1.4.99.This is a holistic programme covering all aspects of self employment such as organisation of the poor into Self Help Groups, training, credit, technology, infrastructure and marketing. With the introduction of this scheme, the earlier programmes viz., IRDP, TRYSEM, DWCRA, SITRA, GKY and MWS are discontinued.
Eligibility
The list of Below Poverty Line (BPL) households identified through BPL census, duly approved by the Gram Sabha will form the basis for identification of families for assistance under this scheme. The beneficiaries are known as ‘SWAROZGARIS”. The Swarozgaris may either be individuals or groups. SGSY lays emphasis on the group approach, under which the rural poor are organised into SGSY Groups. The Swarozgar is would be selected from the BPL families by a three-member team consisting of BDO, Banker and Sarpanch.
These are the facilities available in Vijaya Bank in Karnataka Please meet your nearest Vijaya Bank and get the all facilities from bank, because the interest rates are very low and facilities are more.
0 comments:
Post a Comment