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blue-check The maximum interest rate applicable to short - term loans denominated in Vietnamese dong shall be reduced to 4.5% per annum

Decision No. 576/QD-NHNN dated March 31st, 2023 of the Governor 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: 3/4/2023 7:08:22 AM | Latest updated: 4/4/2023 11:34:35 AM (GMT+7) | LuatVietnam: 5671 | Vietlaw: 605
VietlawOnline

From April 3rd, 2023, the maximum interest rate applicable to short-term loans denominated in Vietnamese dong shall be further reduced by 0.5% by the State Bank of Vietnam, reduced from 5% to 4.5% per annum. Particularly, with regard to people's credit Funds and microfinance institutions, the maximum interest rate shall be reduced from 6% to 5.5% per annum

This Decision takes effect from April 3rd, 2023 and replaces Decision No. 314/QD-NHNNstatus1 dated March 14th, 2023.

Ms Phuong Thao (VietlawOnline.com)
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Effective Date 3-Apr-2023
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 605

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Interest rate

blue-check From May 25th, 2023: The maximum interest rate applicable to deposits shall be reduced to 5% per annum
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