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blue-check The maximum interest rate applicable to short-term loans denominated in VND shall be reduced to 5% per annum

Decision No. 314/QD-NHNN dated March 14th, 2023 of the State Bank of Vietnam on maximum interest rates applicable to short - term loans denominated in Vietnamese dong of credit institutions, branches of foreign banks provided for clients who need the loans to meet the capital demand for some economic fields, sectors under Circular No. 39/2016/TT-NHNNstatus2 dated December 30th, 2016
Posted: 15/3/2023 8:44:25 AM | Latest updated: 16/3/2023 3:11:55 PM (GMT+7) | LuatVietnam: 5658 | Vietlaw: 603
VietlawOnline

The maximum interest rates applicable to short-term loans denominated in Vietnamese dong shall be reduced by 0.5% from March 15th, 2023, to be specific: It is reduced from 5.5% to 5% per annum with regard to credit institutions and branches of foreign banks; reduced from 6.5% to 6.0% per annum with regard to People's credit Funds and microfinance institutions.

This Decision takes from March 15th, 2023 and replaces Decision No. 1813/QD-NHNNstatus1 dated October 24th, 2022.

Ms Phuong Thao (VietlawOnline.com)
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Information
Effective date 15-Mar-2023
Expired date Unknown
Published Vietlaw's Newsletter No. 603

Files attachment

vnflag wordicon QD314_14032023NHNN.docx
vnflag pdficon QD314_14032023NHNN.pdf
enflag wordicon QD314_14032023NHNN[VLO].docx

Timeline

Interest rate

blue-check Re-discount interest rate and interest rate on overnight loans shall be reduced from March 15th, 2023
blue-check The maximum interest rate applicable to short-term loans denominated in VND shall be reduced to 5% per annum
blue-check Interest rate on late payment of social insurance contributions in 2022: 4.19%/year
blue-check In 2023: The interest rate applicable to concessional housing loans shall be increased to 5%/year
blue-check The maximum interest rate applicable to term deposits less than 6 months shall be increased to 6.0%/year
blue-check New regulations on application of interest rates on premature withdrawal of deposits
blue-check Interest rates of deposits made by the State Treasury and Deposit Insurance of Vietnam at the SBV shall be reduced
blue-check Interest rates applicable to deposits of financial companies shall be reduced to 0.8%/year
blue-check Loan interest rate of the Small and Medium Enterprise Development Fund: 4.16% per annum
blue-check Methods for calculation of interest incurred from depositing and credit extension, applicable from 2018
blue-check From July 10th, 2017: Re-financing interest rate is reduced to 6.25% per annum
blue-check The SBV requests for tightening of adherence to the regulations on deposit interest rate
blue-check From December 18th, 2015: interest rate on USD deposits made by individuals is reduced to 0%/year
blue-check Interest rates of investment credit loans and export credit loans are further reduced from May 19th, 2015
blue-check The interest rate applicable to short - term loans in VND is reduced to 7%/year
blue-check The maximum interest rate of deposits in USD of individuals is reduced to 0.75%/year
red-check Guidelines for provision of interest rate support and subsidy on interest rate difference for implementation of supportive policies on reduction of agricultural losses
blue-check Floating interest rates of VND deposits with term from 6 months or more
blue-check The Bank will be suspended capital mobilization if violated interest rate ceiling
blue-check Not allowed to exceed 14% pa of mobilization interest rate covering all of promotional terms