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blue-check Re-discount interest rate and interest rate on overnight loans shall be reduced from March 15th, 2023

Decision No. 313/QD-NHNN dated March 14th, 2023 of the State Bank of Vietnam on refinancing interest rate, re-discount interest rate, interest rate on overnight loans in the interbank electronic payment and loans for making up capital deficits in clearing payment given to credit institutions, foreign banks' branches by the State Bank of Vietnam
Posted: 15/3/2023 8:46:59 AM | Latest updated: 16/3/2023 2:57:39 PM (GMT+7) | LuatVietnam: 5657
VietlawOnline

From March 15th, 2023, re-discount interest rate, interest rate on overnight loans in the interbank electronic payment shall be reduced by 1% per annum. To be specific: the re-discount interest rate shall be reduced from 4.5% to 3.5% per annum; the interest rate on overnight loans shall be reduced from 7.0% to 6.0% per annum

Particularly, the re-financing interest rate is remained unchanged at 6.0% per annum.

This Decision takes effect from March 15th, 2023 and replaces Decision No. 1809/QD-NHNNstatus1 dated October 24th, 2022.

Ms Phuong Thao (VietlawOnline.com)
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Information
Effective date 15-Mar-2023
Expired date Unknown

Files attachment

vnflag wordicon QD313_14032023NHNN.docx
vnflag pdficon QD313_14032023NHNN.pdf
enflag wordicon QD313_14032023NHNN[VLO].docx

Timeline

Interest rate

blue-check Re-discount interest rate and interest rate on overnight loans shall be reduced from March 15th, 2023
blue-check The maximum interest rate applicable to short-term loans denominated in VND shall be reduced to 5% per annum
blue-check Interest rate on late payment of social insurance contributions in 2022: 4.19%/year
blue-check In 2023: The interest rate applicable to concessional housing loans shall be increased to 5%/year
blue-check The maximum interest rate applicable to term deposits less than 6 months shall be increased to 6.0%/year
blue-check New regulations on application of interest rates on premature withdrawal of deposits
blue-check Interest rates of deposits made by the State Treasury and Deposit Insurance of Vietnam at the SBV shall be reduced
blue-check Interest rates applicable to deposits of financial companies shall be reduced to 0.8%/year
blue-check Loan interest rate of the Small and Medium Enterprise Development Fund: 4.16% per annum
blue-check Methods for calculation of interest incurred from depositing and credit extension, applicable from 2018
blue-check From July 10th, 2017: Re-financing interest rate is reduced to 6.25% per annum
blue-check The SBV requests for tightening of adherence to the regulations on deposit interest rate
blue-check From December 18th, 2015: interest rate on USD deposits made by individuals is reduced to 0%/year
blue-check Interest rates of investment credit loans and export credit loans are further reduced from May 19th, 2015
blue-check The interest rate applicable to short - term loans in VND is reduced to 7%/year
blue-check The maximum interest rate of deposits in USD of individuals is reduced to 0.75%/year
red-check Guidelines for provision of interest rate support and subsidy on interest rate difference for implementation of supportive policies on reduction of agricultural losses
blue-check Floating interest rates of VND deposits with term from 6 months or more
blue-check The Bank will be suspended capital mobilization if violated interest rate ceiling
blue-check Not allowed to exceed 14% pa of mobilization interest rate covering all of promotional terms