Vietnam: Interest on loans granted to credit institutions placed under special control in 2018

Duy Thinh

08:30, 01/02/2018

The State Bank of Vietnam issued Circular No. 01/2018/TT-NHNN providing for loans granted to credit institutions placed under special control.

According to Circular No. 01/2018/TT-NHNN of the State Bank of Vietnam (SBV), interests on special loans granted by the SBV are as follows:

- Special loan interest rate is the interest rate on a refinancing loan as announced by the SBV in each period at the time the relevant special loan is disbursed or extended;

- The interest rate on the overdue principal of a special loan equals 130% of the undue loan interest rate applicable before the loan becomes delinquent, except the case specified in Point b Clause 1 Article 6 herein.

Interests on special loans granted by the Deposit Insurance of Vietnam, the Cooperative Bank of Vietnam and other credit institutions: Depending on each case, the interest rate can be agreed upon by both parties or discounted to 0%.

View details at Circular No. 01/2018/TT-NHNN of the State Bank of Vietnam, effective from January 29, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

43 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn