VietnameseThe State Bank of Vietnam has issued Circular No. 29/2026/TT-NHNN dated June 30, 2026, amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN prescribing the provision of loans by credit institutions and foreign bank branches to clients.
Previously, under Clause 13, Article 2 of Circular No. 39/2016/TT-NHNN, as amended by Circular No. 12/2024/TT-NHNN, a small-value loan meant a loan prescribed in Clause 2, Article 102 of the Law on Credit Institutions with a maximum value of VND 100 million.
However, under Article 2 of Circular No. 29/2026/TT-NHNN, a small-value loan means a loan prescribed in Clause 2, Article 102 of the Law on Credit Institutions, which does not exceed VND 200,000,000 (two hundred million Vietnam dong) in the case of people's credit funds, or VND 400,000,000 (four hundred million Vietnam dong) in the case of other credit institutions.
Accordingly, instead of applying a uniform ceiling of VND 100 million as previously prescribed, from August 24, 2026, the ceiling for small-value loans will vary depending on the type of credit institution.
Accordingly, loans provided by banks, finance companies and other credit institutions may be regarded as small-value loans if they do not exceed VND 400 million, while the maximum amount applicable to people's credit funds is VND 200 million.
This is a notable change for individuals, business households, small-sized enterprises and other customers with relatively small borrowing needs.
Lending by electronic means
Besides raising the ceiling for small-value loans, the Circular also supplements regulations on lending by electronic means.
Specifically, under Point h, Clause 2, Article 22 of Circular No. 39/2016/TT-NHNN, as supplemented by Circular No. 29/2026/TT-NHNN, in case of lending by electronic means, the credit institution shall prescribe specific limits on the outstanding loan balance for each client, in accordance with the Law on Credit Institutions, this Circular and other relevant laws.
In addition, the Circular amends regulations on the identification of customers and verification of know-your-customer information for lending by electronic means.
Accordingly, a credit institution shall identify customers and verify know-your-customer information in the same manner as the identification of customers and verification of know-your-customer information prescribed by the State Bank of Vietnam regarding the opening and use of payment accounts at payment service providers.
For individual customers who establish a first-time relationship with a credit institution, customer identification and verification must comply with the above regulations.
For customers who have established a relationship with a credit institution and have undergone customer identification and know-your-customer information verification, the credit institution may decide to apply measures, forms and technologies to verify know-your-customer information serving online lending, ensuring consistency with the known customer information.
Circular No. 29/2026/TT-NHNN takes effect from August 24, 2026.
