Decision No. 383/1999/QĐ-NHNN adjusts the ceiling interest rate for loans in Vietnamese dong by credit institutions to customers, reducing the interest rate level in urban and rural areas. This decision takes effect from October 25, 1999.
适用范围
Credit institutions and individual or business customers borrowing funds.
要点
- Credit institutions → Lower the ceiling interest rate for ordinary loans in urban areas from 1.05% per month to 0.85% per month; in rural areas from 1.05% per month to 1% per month.
- Credit institutions → Maintain the ceiling interest rate for loans by joint-stock commercial banks in rural areas, People's Credit Funds at the grassroots level, and Credit Cooperatives lending to members as stipulated in Decision No. 189/1999/QĐ-NHNN1.
- Credit institutions → Reduce preferential loan interest rates in three mountainous regions, coastal islands, and concentrated Khmer ethnic minority areas by 30% compared to the same type of loan interest rate.
- Credit institutions → The overdue interest rate shall not exceed 150% of the loan interest rate of the same type recorded in the Credit Contract.
- Credit institutions → Base the new ceiling interest rates to set specific deposit and loan interest rates.
🌐 本文件的社会影响
- Citizens and businesses will benefit from reduced loan interest rates, helping to save financial costs.
- However, credit institutions may face difficulties in adjusting interest rates in line with business conditions.
❓ 常见问题
What is the ceiling interest rate for ordinary loans in urban areas?
The ceiling interest rate for ordinary loans in urban areas has been lowered to 0.85% per month.
In which areas will preferential loan interest rates be reduced?
Preferential loan interest rates in three mountainous regions, coastal islands, and concentrated Khmer ethnic minority areas will be reduced by 30% compared to the same type of loan interest rate.
How can credit institutions adjust interest rates?
Credit institutions base the new ceiling interest rates to set specific deposit and loan interest rates appropriate to the loan term, customer policy, and operational conditions of each institution.
How is the overdue interest rate defined?
The overdue interest rate shall not exceed 150% of the loan interest rate of the same type recorded in the Credit Contract.
When does this decision take effect?
This decision takes effect from October 25, 1999.
全文
Pursuant to …;
Regarding the adjustment of the ceiling for interest rates on loans denominated in Vietnamese dong
for customers of credit institutions
________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank and the Law on Credit Institutions dated December 12, 1997;
Pursuant to Decree No. 15/CP dated February 3, 1993 of the Government regarding the tasks, powers, and responsibilities of state management of ministries and ministerial-level agencies;
Pursuant to the proposal of the Director of the Monetary Policy Department,
DECISION:
Article 1. Now, the ceiling for interest rates on loans denominated in Vietnamese dong for customers of credit institutions is adjusted as follows:
1. Lowering the ceiling for ordinary loan interest rates for customers in urban areas from 1.05% per month to 0.85% per month, applicable uniformly to all credit institutions, except those mentioned in Clause 3 of this Article.
2. Lowering the ceiling for ordinary loan interest rates of credit institutions for customers in rural areas from 1.05% per month to 1% per month;
3. Maintaining the ceiling for loan interest rates for rural commercial joint-stock banks, grassroots credit cooperatives, and credit cooperatives lending to members as stipulated in Decision No. 189/1999/QD-NHNN dated May 29, 1999 of the Governor of the State Bank on the ceiling for loan interest rates for credit institutions for customers.
Article 2. Regarding preferential loan interest rates, the following provisions apply:
1. Interest rates for loans in the three mountainous regions (as defined in Decision No. 42/UB/UB-QĐ dated May 23, 1997 recognizing the list of three mountainous regions and highland areas of the Ethnic Minorities Committee), islands, and areas with concentrated Khmer populations shall be reduced by 30% compared to the interest rates for similar loans;
2. Other preferential loan interest rates shall continue to be implemented according to the current regulations of the Prime Minister and the Governor of the State Bank.
Article 3. The interest rate for overdue loans shall be agreed upon in the credit agreement between the credit institution and the customer but shall not exceed 150% of the loan interest rate specified in the credit agreement.
Article 4. Credit institutions shall base the specific interest rates for deposits and loans on the ceilings set forth in Article 1 of this Decision, taking into account the loan term, customer policy, and operational conditions of each credit institution.
The outstanding balance of loans already granted and credit agreements signed but not yet disbursed or partially disbursed up to the date this Decision takes effect shall continue to be implemented at the previously agreed interest rate between the customer and the credit institution in the credit agreement; the review and possible reduction of interest rates for these loans according to the new ceiling shall be decided by the General Director (Director) of the credit institution.
Article 5This Decision shall take effect from October 25, 1999. The provisions on the ceiling for interest rates on loans denominated in Vietnamese dong in Decision No. 266/1999/QD-NHNN dated July 30, 1999 of the Governor of the State Bank on adjusting the ceiling for interest rates on loans denominated in Vietnamese dong for customers of credit institutions and in Directive No. 05/1999/CT-NHNN dated September 1, 1999 of the Governor of the State Bank on reducing the ceiling for interest rates on loans denominated in Vietnamese dong for state-owned commercial banks for customers in urban areas contrary to this Decision shall cease to be effective.
Article 6. Heads of units under the Central State Bank, directors of provincial and centrally-administered city branches of the State Bank; chairmen of boards of management, general directors (directors) of credit institutions are responsible for implementing this Decision./.
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