Trademark, Patent, Utility Solution, copyright, Anti Unfair Competition, Foreign Investment, Contract

THE MAXIMUM INTEREST OF CALL RATE APPLICABLE TO VIETNAM DONG LOAN BY PEOPLE’S CREDIT FUND IS 7%

On November 18, 2019, the State Bank of Vietnam issues the Decision No. 2416/QD-NHNN on maximum interest of call rate applicable to VND deposits at credit institutions, foreign bank branches for borrowers to meet the capital demand in service of a number of economic sectors and industries as prescribed in the Circular 39/2016/TT-NHNN dated December 12, 2016.

Accordingly, credit institutions, foreign bank branches shall apply the maximum interest of call rate applicable to VND deposits of 6.0 % per annum and People’s credit fund and micro financial institution shall apply the maximum interest of call rate applicable to VND deposits of 7.0 % per annum.

This Decision takes effect on November 19, 2019.