Decision No. 920/QD-NHNN 2020 maximum short-term loan interest rate in VND

DECISION

On maximum short-term loan interest rate in Vietnam dong of credit institutions, foreign bank branches for borrowers to meet the capital demand in service of a number of economic sectors and industries as prescribed in the Circular No. 39/2016/TT-NHNN dated December 12, 2016

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THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law on amending and supplementing a number of Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 on defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Decree 39/2016/TT-NHNN dated December 12, 2016 of the Governor of the State Bank of Vietnam on prescribing lending transactions of credit institutions and/or foreign bank branches with customers;

At the proposal of the Director of the Monetary Policy Department.

DECIDES

Article 1. The maximum short-term loan interest rate in VND as prescribed in Clause 2, Article 13 of the Circular No. 39/2016/TT-NHNN dated December 12, 2016 is prescribed as follows:

1. Credit institutions, foreign bank branches (except for people’s credit fund and micro financial institution) shall apply the maximum short-term loan interest rate in VND of 5.0 % per annum.

2. People’s credit fund and micro financial institution shall apply the maximum short-term loan interest rate in VND of 6.0% per annum.

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