Vietnamese
Today - April 03, 2023, a number of interest rates are changed in accordance with new Decisions of the State Bank of Vietnam.
1. Maximum interest rate applicable to deposits in Vietnamese dong
In accordance with Decision No. 575/QD-NHNN, the maximum interest rate applicable to demand deposits and deposits with a term of less than one month shall be from 1.0% per annum to 0.5% per annum.
- Increase the maximum interest rate applicable to deposits with a term of one month to less than six months shall be from 6.0% per annum to 0.6% per annum;
People's credit funds and micro-financial institutions apply the maximum interest rate to deposits with a term of one month to less than six months shall be reduced from 6.5% per annum to 6.0 %/per annum.
2. Maximum loan interest rate
In accordance with Decision No. 576/QD-NHNN, the short-term loan interest rate in Vietnam dong for the credit institution to satisfy the capital demands in the economic sectors and industries are reduced from 5.0%/per annum to 4.5%/ per annum.
People’s credit funds and micro-financial institutions shall apply the maximum short-term loan interest rate in VND which is 5.5 % per annum instead of 6.0% per annum.
3. Refinancing interest rate, re-discount interest rate
Decision No. 574/QD-NHNN prescribes the refinancing interest rate, re-discount interest rate, the overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions and foreign bank branches as follows:
- The refinancing interest rate is 5.5% per annum (instead of 6% per annum);
- The refinancing interest rate is 3.5% per annum;
- The overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, and foreign bank branches is 6.0% per annum as before.
4. Interest rate applicable to deposits of the State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam
In accordance with Decision No. 577/QD-NHNN, the interest rate applicable to deposits of the State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam as follows:
- The interest rate of deposits in VND made by the State Treasury: 0.5 %/ per annum.
- The interest rate of deposits in foreign currencies made by the State Treasury: 0%/ per annum.
- The interest rate 0.5%/ per annum.
5. Interest rates of deposits made by people’s credit funds and micro-finance institutions at the State Bank of Vietnam
Decision No. 578/QD-NHNN on prescribing interest rates of deposits in Vietnam Dong made by Vietnam Development Bank, Vietnam Bank for Social Policies, people’s credit funds, and micro-finance institutions at the State Bank of Vietnam as follows:
- The interest rate of deposits made by Vietnam Development Bank: 0.8%/ per annum.
- The interest rate of deposits made by Vietnam Bank for Social Policies: 0.5%/ per annum.
- The interest rate of deposits made by people’s credit funds: 0.5%/ per annum.
- The interest rate of deposits made by microfinance institutions: 0.5%/ per annum.
