According to the Decision, regulations on maximum interest rates of organizations (except for credit institutions and foreign bank branches) and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TTNHNN are as follows:
- The maximum interest rate applicable to demand deposits and deposits with a term below 1 month is 1,0% per year (increased by 0,5% compared to Decision No. 1607/QD-NHNN 2022)
- The maximum interest rate applicable to deposits with a term from 1 to below 6 months is 6,0% per year (increased by 1% compared to Decision No. 1607/QD-NHNN 2022);
Particularly, regarding People's Credit Funds and microfinance institutions, the maximum interest rate applicable to deposits with a term from 1 to below 6 months is 6.5% per year (increased by 1% compared to Decision No. 1607/QD-NHNN 2022).
Attention: Interest rates generated before October 25, 2022 shall be implemented until the end of the specific term;
Upon the expiry of the agreed term, if organizations and individuals do not come to receive their deposits, the new interest rate shall be applicable according to Decision No. 1812/QD-NHNN 2022.
Decision No. 1812/QD-NHNN 2022 comes into force as of October 25, 2022 and replaces Decision No.1607/QD-NHNN dated September 22, 2022.
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