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MEKONG COUNSEL

Circular regulating the maximum interest rates on short-term loans in Vietnam Dong of credit institutions, branches of foreign banks for borrowers to satisfy capital demands serving some economic fields, sectors

On March 15, 2013, the State Bank of Vietnam (“SBV”) issued Circular No. 09/2013/TT-NHNN regulating the maximum interest rates on short-term loans in Vietnam Dong of credit institutions, branches of foreign banks for borrowers to satisfy capital demands serving some economic fields, sectors.

 

Accordingly, the maximum short-term loan rates in Vietnam Dong shall be 11% per year; People's Credit Funds and Microfinance Institutions may impose the short-term loan rates in Vietnam Dong at 12% per year.

 

Eligible borrowers shall be permitted to borrow the loans as regulated by the SBV.

 

 

This Circular shall be effective from March 26, 2013 and supersede Circular No. 33/2012/TT-NHNN dated December 21, 2012 of the Governor of the SBV.