The Bangalore headquartered Vijaya Bank has introduced a new deposit scheme, ‘V-Abhivriddhi'.

The deposit scheme offers higher returns to depositors and is for a three month period from January 1 to March 31st, a press release said.

The minimum amount of deposit is Rs 10 lakh and the maximum amount Rs 100 crore with a maturity period ranging from seven days to 180 days. The new deposit scheme does not attract any pre-closure penalty charges.

Vijaya bank has also changed the interest rates that it is offering on FCNR (B) fixed deposits. The revised rates have been made effective from January 1, 2013.