Circular No. 20/2012/TT-NHNN stipulates the maximum interest rate for short-term loans in Vietnamese dong granted by credit institutions and foreign bank branches to borrowers for certain economic sectors. The maximum interest rate is 13% per annum and 14% per annum for grassroots Credit Cooperatives.
적용 범위
Credit institutions, foreign bank branches; borrowers for capital needs serving certain economic sectors; grassroots Credit Cooperatives.
핵심 사항
- Credit institutions, foreign bank branches → are allowed to grant short-term loans with a maximum interest rate of 13% per annum (14% per annum for grassroots Credit Cooperatives).
🌐 이 문서의 사회적 영향
- Positive impact: Reduces financial burden for borrowing customers, encourages investment in favored economic sectors.
- Negative impact: May reduce income for credit institutions, affecting their ability to provide credit services.
❓ 자주 묻는 질문
What is the maximum short-term loan interest rate?
The maximum short-term loan interest rate in Vietnamese dong is 13% per annum, except for grassroots Credit Cooperatives at 14% per annum.
When does this Circular take effect?
This Circular takes effect from June 11, 2012.
How is the interest rate applied to credit contracts signed before this Circular takes effect?
The interest rate applied to credit contracts signed before the effective date of this Circular will continue to be implemented according to the terms of the signed credit contract in compliance with the law at the time of contract signing.
Who is responsible for implementing this Circular?
The Director of the Office, Heads of the Monetary Policy Department and other units under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and centrally-administered cities; Chairmen of the Board of Directors, Chairmen of the Board of Members and General Directors (Directors) of credit institutions and foreign bank branches, other organizations and individuals related to this Circular are responsible for its implementation.
For which sectors is the maximum short-term loan interest rate applicable?
This Circular stipulates the maximum interest rate for short-term loans in Vietnamese dong for borrowers for certain economic sectors, but does not specify the specific sectors.
전문
CIRCULAR
Amending and supplementing certain provisions of Circular No. 14/2012/TT-NHNN dated May 4, 2012 on interest rates for short-term loans in Vietnamese dong by credit institutions and foreign bank branches to borrowers to meet capital needs for certain economic sectors and industries INTEREST RATES FOR SHORT-TERM LOANS IN VIETNAMESE DONG BY CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES TO BORROWERS TO MEET CAPITAL NEEDS FOR CERTAIN ECONOMIC SECTORS AND INDUSTRIES TO MEET CAPITAL NEEDS FOR CERTAIN ECONOMIC SECTORS AND INDUSTRIES
_____________________________
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;
Pursuant to the Law on Credit Organizations No. 47/2010/QH12 dated June 16, 2010;
Pursuant to Decree No. 96/2008/NĐ-CP dated August 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Upon the proposal of the Director of the Monetary Policy Department;
The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain provisions of Circular No. 14/2012/TT-NHNN dated May 4, 2012 on interest rates for short-term loans in Vietnamese dong by credit institutions and foreign bank branches to borrowers to meet capital needs for certain economic sectors and industries,
Article 1. Amend and supplement Clause 1, Article 1 of Circular No. 14/2012/TT-NHNN dated May 4, 2012 on interest rates for short-term loans in Vietnamese dong by credit institutions and foreign bank branches to borrowers to meet capital needs for certain economic sectors and industries as follows:
"1. The maximum interest rate for short-term loans in Vietnamese dong is 13% per annum; for People's Credit Funds, the maximum interest rate for short-term loans in Vietnamese dong is 14% per annum."
Article 2. Implementation
1. This Circular takes effect from June 11, 2012.
2. Interest rates applied to credit contracts signed before the date this Circular takes effect shall continue to be implemented according to the signed credit contracts in compliance with the laws at the time of signing the contracts.
3. The Heads of the Office, the Director of the Monetary Policy Department, and the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam branches in provinces and centrally-administered cities; the Chairmen of the Management Boards, the Chairmen of the Member Councils, and the General Directors (Directors) of credit institutions and foreign bank branches, other organizations, and individuals related to this matter are responsible for implementing this Circular./.
DEPUTY DIRECTOR
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