From April 3rd, 2023, maximum interest rates applicable to deposits at banks shall be reduced by 0.5%. In which, the maximum interest rate applicable to demand deposits and deposits with term of less than one month shall be reduced from 1% to 0.5% per annum.
The maximum interest rate applicable to time deposits of between 1 month and less than 6 months shall be reduced from 6% per annum to 5.5% per annum. Particularly, with regard to people's credit Funds and microfinance institutions, the maximum interest rate shall be reduced from 6.5% per annum to 6.0% per annum.
This Decision comes into force from April 3rd, 2023 and replaces Decision No. 1812/QD-NHNN dated October 24th, 2022.
|Published||Vietlaw's Newsletter No. 605|