Reduction of Bank Interest Rates Effective July 10, 2017

13:19, 11/07/2024

This is the notable content of Decision 1424/QD-NHNN and Decision 1425/QD-NHNN issued by the State Bank of Vietnam on July 07, 2017.

From July 10, 2017, the banking interest rates for various types of loans were adjusted as follows:

- Refinancing rate: Reduced from 6.5% to 6.25% per annum;- Rediscount rate: Reduced from 4.5% to 4.25% per annum;- Overnight lending rate in interbank electronic payments: Reduced from 7.5% to 7.25% per annum;- Maximum short-term lending rate in VND for capital needs in agriculture, rural areas, export, and industry: Reduced from 7.0% to 6.5% per annum;- Maximum short-term lending rate in VND for People's Credit Funds and Microfinance Institutions: Reduced from 8.0% to 7.5% per annum.

More details can be found in:

- Decision 1424/QD-NHNN replacing Decision 496/QD-NHNN dated March 17, 2014;- Decision 1425/QD-NHNN replacing Decision 277/QD-NHNN dated March 3, 2017.

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