Short-term lending interest rates at credit institutions from May 13, 2020

Nguyen Trinh

14:28, 10/07/2024

The State Bank of Vietnam has just issued Decision 920/QD-NHNN on the maximum short-term lending interest rate in Vietnamese dong by credit institutions and foreign bank branches to customers borrowing to meet capital needs for certain sectors and economic fields as stipulated in Circular 39/2016/TT-NHNN dated December 30, 2016.

from May 13, 2020, the maximum short-term lending interest rate in VND as stipulated in Clause 2, Article 13 of Circular 39/2016/TT-NHNN dated December 30, 2016, is as follows:

- Credit institutions, branches of foreign banks (excluding people's credit funds and microfinance institutions) apply a maximum short-term lending interest rate in VND of 5.0% per annum;- People's credit funds and microfinance institutions apply a maximum short-term lending interest rate in VND of 6.0% per annum.

For details, see: Decision 920/QD-NHNN effective from May 13, 2020, and replacing Decision 420/QD-NHNN dated March 16, 2020.

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