THE STATE BANK OF VIETNAM
Decision No. 2172/QD-NHNN dated October 28, 2014 of the State Bank of Vietnam providing for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions in accordance with the Circular No. 06/2014/TT-NHNN dated March 17, 2014
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
Pursuant to the Decree No. 156/2013/ND-CP dated 11 November 2013 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;
Pursuant to the Circular No. 06/2014/TT-NHNN dated 17 March 2014 of the State Bank of Vietnam providing for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions;
Upon proposal by the Director of Monetary Policy Department
The Governor of the State Bank of Vietnam hereby provides for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions as follows:
DECIDES:
Article 1. Organizations and individual shall apply the maximum interest rate applicable to USD deposits prescribed at the Circular No. 06/2014/TT-NHNN dated March 17, 2014 as follows:
1. The maximum interest rate applicable to the deposits of organization (excluding credit institutions, foreign bank branches): 0.25% per annum.
2. The maximum interest rate applicable to the deposits of individual: 0.75% per annum
Article 2.
1. This Decision takes effect on October 29, 2014 and replaces the Decision No. 497/QD-NHNN dated 17 March 2014 of the State Bank of Vietnam on the maximum interest rate applicable to USD deposits of entities, individuals at credit institutions, foreign bank branches under the Circular no. 06/2014/TT-NHNN dated March 17, 2014.
2. For interest rates applicable to term USD deposits of entities, individuals at credit institutions arising prior to the effective date of this Decision shall be implemented until the expiry of the term; in the event where at the end of the agreed term, if the entities, individuals do not come for withdrawal, then the credit institutions shall apply interest rates for deposits in accordance with provisions of this Decision
Article 3. Director of the State Bank’s Office, Director of Monetary Policy Department, Heads of units of the State Bank of Vietnam, General Managers of State Bank's branches in provinces, cities under the Central Government’s management; Chairman of Board of Directors, Board of Members and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.
For the Governor of the State Bank of Vietnam
Deputy Governor
Nguyen Dong Tien
Vietnamese
Decision 2172/QĐ-NHNN DOC (Word)
Decision 2172/QĐ-NHNN PDF (Original)
