MAXIMUM INTEREST RATE APPLICABLE TO CALL DEPOSITS AT FOREIGN BANK BRANCHES IS 0.8% PER ANNUM
On November 18, 2019, the State Bank of Vietnam issues the Decisions No. 2415/QD-NHNN on maximum interest rate applicable to VND deposits of organizations and individuals at credit institutions, foreign bank branches as prescribed in the Circular No. 07/2014/TT-NHNN dated March 17, 2014
Accordingly, the maximum interest rate applicable to VND deposits of organizations and individuals at credit institutions, foreign bank branches as follows: Maximum of 0.8% per annum, regarding to call deposits and deposits with term of less than one month; Maximum interest rate applicable to deposits with term of one month to less than six months to be of 5.0% per annum; for People’s credit funds and micro-financial institutions, the maximum interest rate applicable to deposits with term of one month to less than six months shall be 5.5% per annum.
This Decision takes effect on November 19, 2019.
