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blue-check Interest rate applicable to deposits with term of less than 6 months shall be increased to 5% per annum (increased by 1%)

Decision No. 1607/QD-NHNN dated September 22nd, 2022 of the State Bank of Vietnam on maximum interest rates applicable to deposits in Vietnam dong of organizations and individuals at credit institutions, branches of foreign banks in accordance with the provisions in Circular No. 07/2014/TT-NHNN dated March 17th, 2014
Posted: 23/9/2022 7:28:25 AM | Latest updated: 23/9/2022 2:33:20 PM (GMT+7) | LuatVietnam: 5543 | Vietlaw: 579
VietlawOnline

This Decision is to increase the interest rate applicable to deposits in Vietnam dong with term of less than 6 months from 4% per annum under Decision No. 1729/QD-NHNNstatus1 to 5% per annum. Particularly, people's credit Funds shall apply the interest rate of 5.5% per annum.

The interest rate of demand deposit and deposit with term of less than one month shall be also increased from 0.2% per annum to 0.5% per annum.

This Decision takes effect from September 23rd, 2022 and replaces Decision No. 1729/QD-NHNNstatus1 dated September 30th, 2020.

Lịch trình tăng/giảm lãi suất huy động vốn VND được thực hiện thông qua các văn bản sau:
- Thông tư số 30/2011/TT-NHNNstatus1 : 14,0 % (áp dụng từ 01/10/2011)
- Thông tư số 05/2012/TT-NHNN : 13,0 % (áp dụng từ 13/3/2012)
- Thông tư số 08/2012/TT-NHNN : 12,0 % (áp dụng từ 11/4/2012)
- Thông tư số 17/2012/TT-NHNN : 11,0 % (áp dụng từ 28/5/2012)
- Thông tư số 19/2012/TT-NHNN : 9,0 % (áp dụng từ 11/6/2012)
- Thông tư số 32/2012/TT-NHNN : 8,0 % (áp dụng từ 24/12/2012)
- Thông tư số 08/2013/TT-NHNN : 7,5 % (áp dụng từ 26/3/2013)
- Thông tư số 15/2013/TT-NHNN : 7,0 % (áp dụng từ 28/6/2013)
- Quyết định số 498/QĐ-NHNN ngày 17/3/2014: 6,0 % (áp dụng từ 18/3/2014)
- Quyết định số 2173/QĐ-NHNN ngày 28/10/2014: 5,5 % (áp dụng từ 29/10/2014)
- Quyết định số 2415/QĐ-NHNN ngày 18/11/2019: 5,0% (áp dụng từ 19/11/2019)
- Quyết định số 419/QĐ-NHNN ngày 16/3/2020: 4,75%/năm (áp dụng từ 17/3/2020)
- Quyết định số 919/QĐ-NHNN ngày 12/5/2020: 4,25%/năm (áp dụng từ 13/5/2020)
- Quyết định số 1729/QĐ-NHNN ngày 30/9/2020: 4,0%/năm (áp dụng từ 1/10/2020)
- Quyết định số 1607/QĐ-NHNN ngày 22/9/2022: 5,0%/năm (áp dụng từ 23/9/2022)
Ms Phuong Thao (VietlawOnline.com)
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Information

Effective date 23-Sep-2022
Expired date Unknown
Published Vietlaw's Newsletter No. 579

Files attachment

enflag pdficon QD1607-22092022NHNN[VLO].pdf

Timeline

Interest rate

blue-check From September 23rd, 2022: Refinancing interest rate, re-discount interest rate and interest rate on overnight loans shall be increased by 1%
blue-check Interest rate applicable to deposits with term of less than 6 months shall be increased to 5% per annum (increased by 1%)
blue-check New regulations on application of interest rates on premature withdrawal of deposits
blue-check From October 1st, 2020: The maximum interest rate applicable to short - term loans in Vietnamese dong shall be reduced to 4.5% per annum
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