Regulations on the rate of withdrawal before the deposit term to ensure the fulfillment of obligations in Vietnam

Regulations on the rate of withdrawal before the deposit term to ensure the fulfillment of obligations in Vietnam
Diễm My

This is the content of the Circular 04/2022/TT-NHNN applying the rate of withdrawal before maturity of deposits at credit institutions in Vietnam, branches of foreign banks.

According to these contents, Circular 04/2022/TT-NHNN stipulates the application of the withdrawal interest rate, prepayment or advance payment of deposits as agreed by the organization (excluding credit institutions, foreign bank branches), individuals in Vietnam deposit money at credit institutions, foreign bank branches.

As for the deposit of time deposits at credit institutions in Vietnam and foreign bank branches to ensure the fulfillment of obligations in accordance with the law, the following shall be implemented:

- The application of the withdrawal rate before the deposit term shall comply with the provisions in separate documents of the Government and the State Bank of Vietnam.

- In case the separate documents of the Government and the State Bank of Vietnam do not stipulate the rate of withdrawal before the deposit term, it shall comply with the agreement between the parties in accordance with the provisions of Circular 04/2022/TT-NHNN.

Circular 04/2022/TT-NHNN takes effect from 01/8/2022 and replaces Circular 04/2011/TT-NHNN.


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