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blue-check From October 25th, 2022: Refinancing interest rate and re-discount interest rate shall be increased by 1%

Decision No. 1809/QD-NHNN dated October 24th, 2022 of the State Bank of Vietnam on refinancing interest rate, re-discount interest rate, interest rate on overnight loans in the interbank electronic payment and loans for making up capital deficits in clearing payment given to credit institutions, foreign banks' branches by the State Bank of Vietnam
Posted: 25/10/2022 7:03:33 AM | Latest updated: 25/10/2022 12:58:15 PM (GMT+7) | LuatVietnam: 5565 | Vietlaw: 584
VietlawOnline

From October 25th, 2022 the State Bank of Vietnam increases the following interest rates by 1%:

1. Refinancing interest rate: Increased from 5% to 6.0% per annum;

2. Re-discount interest rate: Increased from 3.5% to 4.5% per annum;

3. Interest rate applicable to overnight loans in the inter-bank electronic payment: Increased from 6.0% to 7.0% per annum.

This Decision takes effect from October 25th, 2022 and replaces Decision No. 1606/QD-NHNNstatus1 dated September 22nd, 2022.

Ms Phuong Thao (VietlawOnline.com)
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Information

Effective Date 25-Oct-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 584

Files attachment

enflag pdficon QD1809-24102022NHNN[VLO].pdf

Timeline

Interest rate

blue-check The maximum interest rate applicable to term deposits less than 6 months shall be increased to 6.0%/year
blue-check The maximum interest rate applicable to short - term loans denominated in VND shall be increased to 5.5% per annum
blue-check From October 25th, 2022: Refinancing interest rate and re-discount interest rate shall be increased by 1%
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
blue-check Base interest rate of VND on October, 2010
blue-check The medium and long-term loans at the VDB to be supported interest