Vijaya Bank cuts farm loan rates

Vijaya Bank on Monday said it has reduced interest rates on agricultural loans by 0.5 per cent with interest for loans up to Rs 25,000 at 8.5 per cent.

The bank said the new interest rates have been effective from April 1 and the revised rates on agricultural loans are one of the lowest interest rates in the industry.

"The revised rates are applicable to all agricultural loans, other short term loans and term loans, both in respect of fresh sanctions and renewals from April 1," it said.