Decision No. 315/2000/QĐ-NHNN stipulates that the lending interest rate of the Training Credit Fund for students and trainees is 0.45% per month starting from October 1, 2000. This document replaces previous decisions and provides guidance on handling loans contracted before its effective date.
Scope of application
Students and trainees at universities, colleges, vocational high schools, and technical training centers; the State Bank of Vietnam; credit institutions assigned by the Governor of the State Bank to lend from the Training Credit Fund.
Key points
- Students and trainees at universities, colleges, vocational high schools, and technical training centers → are eligible for loans with an interest rate of 0.45% per month starting from October 1, 2000 (Article 1).
- The State Bank of Vietnam and credit institutions assigned by the Governor of the State Bank to lend → must implement the conversion of interest rates on outstanding or undisbursed loans as of the date this Decision takes effect (Article 2).
- Loans contracted before the effective date of this Decision → shall be handled according to specific guidance provided in Article 2 regarding interest rate conversion.
- The Training Credit Fund → does not apply the new interest rate to disbursements made prior to the effective date of this Decision (Article 2).
- The State Bank of Vietnam and credit institutions assigned by the Governor of the State Bank to lend from the Training Credit Fund → are responsible for implementing this Decision.
🌐 Social impact of this document
- To alleviate financial burdens on students when accessing loans for education.
- Credit institutions and the State Bank of Vietnam have additional responsibilities in converting interest rates on loans contracted before the effective date of this Decision.
❓ Frequently asked questions
What is the lending interest rate of the Training Credit Fund?
The lending interest rate is 0.45% per month starting from October 1, 2000.
How are loans contracted before the effective date of this Decision handled?
The remaining outstanding balance shall apply the new interest rate from the date this Decision takes effect. Portion disbursed after the effective date of this Decision shall also apply the new interest rate.
Does the Training Credit Fund have to apply the new interest rate to the portion disbursed before the effective date of the Decision?
No, only the portion disbursed after the effective date of this Decision shall apply the new interest rate.
The State Bank of Vietnam and credit institutions assigned by the Governor of the State Bank to lend from the Training Credit Fund must perform what actions?
Must implement the transition to the new interest rate for outstanding loans or undisbursed amounts as of the date this Decision takes effect.
This Decision replaces which previous decision?
Replaces Decision No. 53/1999/QĐ-NHNN1 dated February 10, 1999 issued by the Governor of the State Bank.
Full text
DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
Regarding the adjustment of lending interest rates for the Education Credit Fund
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Institutions dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government regarding tasks, powers, and responsibilities for state management by ministries and ministerial-level agencies;
Pursuant to Decision No. 51/1998/QĐ-TTg dated March 2, 1998 of the Prime Minister on establishing the Education Credit Fund;
Upon the proposal of the Director of the Monetary Policy Department, after consultation with the Minister of Education and Training,
DECIDES:
Article 1. The lending interest rate for the Education Credit Fund to high school students, college students, university students, and vocational training students is set at 0.45% per month.
Article 2. This Decision takes effect from October 1, 2000, replacing Decision No. 53/1999/QĐ-NHNN1 dated February 10, 1999 of the Governor of the State Bank regarding the lending interest rate for the Education Credit Fund to high school students, college students, university students, and vocational training students. The treatment of loans already contracted by the Education Credit Fund before this Decision takes effect is as follows:
1. For outstanding loan balances on the date this Decision takes effect, the remaining balance will be subject to the new interest rate from the effective date of this Decision;
2. For credit contracts signed before the effective date of this Decision but not yet disbursed or partially disbursed, any disbursements made after the effective date of this Decision shall apply the new interest rate.
Article 3. The Director of the State Bank of Vietnam’s Office, the Director of the Monetary Policy Department, Heads of units under the State Bank of Vietnam, Governors of provincial and centrally-administered city branches of the State Bank of Vietnam, Chairmen of Management Boards and General Directors (Directors) of credit institutions assigned tasks by the Governor of the State Bank of Vietnam are authorized to implement this Decision./.
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