Decision No. 1103-TC/HCSN adjusts the interest rate for loans from the National Fund for Employment Resolution under small projects, effective from January 1, 1997. The basic interest rate is 0.6% per month and 0.4% per month for projects of war invalids and disabled persons. Interest is paid in full at the end of the loan period, without capitalizing interest.
适用范围
Organizations and individuals approved to borrow funds from the National Fund for Employment Resolution under small projects.
要点
- As of January 1, 1997, the interest rate for loans from the National Fund for Employment Resolution is 0.6% per month (except for projects of war invalids and disabled persons, which is 0.4% per month).
- Interest is paid in full at the end of the loan period.
- The overdue interest rate is 200% of the basic interest rate.
- No additional charges may be added to the interest rate when lending and collecting debts.
- Previous provisions regarding interest rates that conflict with this Decision cease to be enforceable.
🌐 本文件的社会影响
- Positive impact: Reduces borrowing costs, helping small project enterprises save on financial costs.
- Negative impact: May cause difficulties for organizations and individuals who have borrowed before this Decision takes effect.
❓ 常见问题
What is the interest rate for loans from the National Fund for Employment Resolution?
As of January 1, 1997, the basic interest rate is 0.6% per month. For projects of war invalids and disabled persons, it is 0.4% per month.
When is interest paid?
Interest is paid in full at the end of the loan period.
How is the overdue interest rate defined?
The overdue interest rate is 200% of the basic interest rate.
Can any additional charges be included in the interest rate when lending and collecting debts?
Not permitted. The Decision strictly prohibits this.
From what date does this Decision take effect?
This Decision takes effect from January 1, 1997.
全文
Pursuant to …;
DECISION NO. 1103 TC/HCSN OF DECEMBER 2, 1996, ISSUED BY THE MINISTER OF FINANCE ON ADJUSTING INTEREST RATES FOR LOANS FROM THE NATIONAL EMPLOYMENT FUND FOR SMALL PROJECTS
THE MINISTER OF FINANCE
- Pursuant to Resolution No. 120/HĐBT dated April 11, 1992 of the Council of Ministers (now the Government) on the policy, direction, and measures for job creation in the coming years;
WHEREAS Decree No. 15/CP dated March 2, 1993, of the Government on the authorities and responsibilities for state management of ministries and ministerial-level agencies;
Following the agreement of the Minister of Labor, War Invalids and Social Affairs (Letter No. 3899/LDTBXH-VL dated November 19, 1996) and the Minister of Planning and Investment (Letter No. 6065 BKH/LDVX dated November 19, 1996);
Pursuant to …;
Article 1.As of January 1, 1997, interest rates for loans from the National Employment Fund for small projects shall be regulated as follows:
All approved loan projects with different terms shall uniformly apply an interest rate of 0.6% per month. For loans to production and business establishments of war invalids and disabled persons (including projects of the blind association), the interest rate shall be 0.4% per month.
Interest shall be paid once at maturity along with the principal. The interest on the loan shall be calculated based on the actual amount borrowed and the actual term of the loan, without compounding interest into the principal.
The interest rate for overdue loans shall be set at 200% of the basic interest rate mentioned above.
Article 2.The aforementioned interest rates shall be uniformly applied throughout the country and directly affect the borrowing entities. Any additional charges beyond the stipulated interest rates when granting loans and collecting debts are strictly prohibited.
Article 3.- This Decision shall take effect from January 1, 1997, and all previous regulations on interest rates for loans that conflict with this Decision shall cease to be effective.
Loans granted before January 1, 1997, shall continue to be governed by the interest rates specified in Circular No. 03/TT-LB dated February 3, 1996, issued jointly by the Ministries of Labor, War Invalids and Social Affairs, Finance, and Planning and Investment. The outstanding balance of such loans as of January 1, 1997, shall be subject to the interest rates under this Decision.
The State Treasury of Vietnam shall be responsible for guiding and implementing this Decision.
关系图
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