THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 01/2009/TT-NHNN
Hanoi, January 23, 2009
 
CIRCULAR
GUIDING NEGOTIABLE INTEREST RATES APPLIED BY CREDIT INSTITUTIONS TO CONSUMER LOANS AND LOANS PROVIDED THROUGH THE CREDIT CARD ISSUANCE AND USE OPERATION
Pursuant to the Government's Resolution No. 30/2008/NQ-CP of December 11, 2008. on urgent measures to curb economic decline, maintain economic growth and assure social welfare;
Based on the Prime Minister's directions in the Government Office's Document No. 627/ VPVP-KTTH of January 23, 2009, on the application of negotiable lending interest rates by credit institutions;
The State Bank of Vietnam guides negotiable interest rates applied by credit institutions to consumer loans and loans provided through the credit card issuance and use operation as follows:
 
1. Credit institutions shall apply negotiable interest rates to consumer loans and loans provided through the credit card issuance and use operation in compliance with the State Bank of Vietnam's regulations on the provision of loans by credit institutions to their clients and on the basis of the market capital supply-demand and borrowers' creditworthiness.
 
2. Credit institutions shall determine credit limits for a client and domains in which they will provide consumer loans and loans through the credit card issuance and use operation in accordance with the State Bank of Vietnam's regulations on safety ratios and business operation conditions of credit institutions.
 
3. Credit institutions shall strictly control credit limits and quality of consumer loans and loans provided through the credit card issuance and use operation.