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.

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Circular No. 01/2018/TT-NHNN

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