Dropped DEPOSIT INTEREST RATES, INTEREST LOAN

State Bank of Vietnam has issued Decision No. 2172 / QD-SB; Decision No. 2173 / QD-SB and Decision No. 2174 / QD-SB fixed interest rate for deposits in US dollars; interest rates for Vietnam dong deposits held by individuals and short-term interest rates in Vietnam dong at credit institutions and branches of foreign banks; replace the corresponding rate was announced in the middle of the past 03 months.

Specifically, the State Bank stipulated maximum interest rate applicable to deposits with terms from 1 month to 6 months in Vietnam dong at credit institutions and branches of foreign banks is 5, 5%; People's Credit Fund and microfinance institutions is 6.0% - 0.5% decrease compared to the past.

Maximum interest rates applicable to dollar deposits of individuals in credit institutions and branches of foreign banks decreased from 1% to 0.75%. As for deposits in US dollars of the organization, the interest rate remains 0.25%.

Similarly, short-term interest rates for Vietnam dong up in credit institutions and branches of foreign banks are defined as 7% and in people's credit funds, microfinance institutions is 8% ; instead of 8% and 9% as before.

The above rates are applicable from the date of 10/29/2014.

(LuatVietnam)