THE STATE BANK OF VIETNAM

Circular No. 08/2014/TT-NHNN dated March 17, 2014 of the Vietnam State Bank promulgating the interest rate for VND short-term loans of the credit institutions for the customers to satisfy funds demand serving some economic areas and sectors
Pursuant to the Law No. 46/2010/QH12 dated June 16, 2010 of the National Assembly on the State Bank of Vietnam;
Pursuant to the Law No. 47/2010/QH12 dated June 16 2010 of the National Assembly on the Credit Institutions;
Pursuant to the Decree No. 156/2013/ND-CP dated November 11, 2013 of the Government defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of Department of Monetary Policy;
The Governor of the State Bank of Vietnam issues the Circular promulgating the interest rate for VND short-term loans of the credit institutions for the customers to satisfy funds demand serving some economic areas and sectors.
Article 1. Vietnam dong (VND) short-term loaning interest rates of credit institutions
1. Credit institutions and foreign bank’s branches (hereinafter referred to as credit institutions) applying the interest rate for VND short-term loans shall not be allowed to exceed the maximum interest rate decided by the Governor in each period and for each kind of credit institutions.
2. The short-term loans in VND that are eligible for the maximum interest rate prescribed in Clause 1 this Article are the loans that satisfy the demands for fund that is used for:
a) To service the development of agriculture and rural areas as prescribed in the Decree No. 41/2010/ND-CP dated April 12, 2010 of the Government on credit policies for agricultural and rural development;
b) To implement the plans, projects of production and trading of exports as prescribed in the Commercial Law;
c) To service the production and trading of medium and small enterprises as prescribed in the Decree No. 56/2009/ND-CP of June 30, 2009, on assistance to the development of small- and medium-sized enterprises;