DECISION

On the maximum short-term loan interest rate in Vietnam Dong of credit institutions and foreign bank branches for borrowers to satisfy the capital requirements for certain economic fields and sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016

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 No. 47/2010/QH12 dated June 16, 2010 and the Law on amendments to the Law on Credit Institutions No. 17/2017/QH14 dated November 20, 2017;

- Pursuant to Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government on function, tasks, powers and organizational structures of the State Bank of Vietnam;

- Pursuant to Circular No. 39/2016/TT-NHNN dated December 12, 2016 of the Governor of the State Bank of Vietnam on loan operations of credit institutions and foreign bank branches for borrowers;

- At the request of the Director General of the Monetary Policy Department,

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Article 1. The maximum short-term loan interest rates in Vietnam dong according to clause 2 Article 13 of Circular No. 39/2016/TT-NHNN dated December 30, 2016 are as follows:

1. Credit institutions and foreign bank branches (except for People's Credit Funds and microfinance institutions) shall apply a maximum short-term loan interest rate of 5,5% per year.

2. People's Credit Funds and microfinance institutions shall apply a maximum short-term loan interest rate in Vietnam Dong of 6,5% per year.

Article 2.

1. This Decision comes into force from October 25, 2022 and replaces Decision No. 1730/QD-NHNN dated September 30, 2020 of the Governor of the State Bank of Vietnam on the maximum short-term loan interest rate in Vietnam dong of credit institutions and foreign bank branches for borrowers to satisfy the capital requirements for certain economic fields and sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016.

2. The interest rates stipulated by credit contracts or loan agreements concluded before the date on which this Decision comes into force shall continue to be applied according to such contracts and agreements in compliance with regulations of the law applicable at the time of their conclusion.

Article 3. Chief of the secretariat, Director General of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, credit institutions and foreign bank branches are responsible for implementation of this Decision./.

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