THE STATE BANK OF VIETNAM

Circular No. 09/2013/TT-NHNN of March 25, 2013, stipulating the maximum Vietnam dong short-term lending interest rates to be applied by credit institutions and foreign bank branches for borrowers to meet capital demands of a number of economic sectors and fields
Pursuant to June 16, 2013 Law No. 46/2010/QH2 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH2 on Credit Institutions;
Pursuant to the Government’s Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Monetary Policy Department;
The Governor of the State Bank of Vietnam promulgates the Circular stipulating the maximum Vietnam dong short-term lending interest rates to be applied by credit institutions and foreign bank branches for borrowers to meet capital demands of a number of economic sectors and fields.
Article 1. Maximum Vietnam dong short-term lending interest rates applied by credit institutions and foreign bank branches
1. The maximum Vietnam dong short-term lending interest rate is 11% per annum particularly; people’s credit funds and microfinance institutions may fix the maximum Vietnam dong short-term lending interest rate of 12% per annum.
2. Short-term loans in Vietnam dong provided with the maximum lending interest rate as stipulated in Clause 1 of this Article are loans to meet capital demands for:
a/ Agriculture and rural development as stipulated in the Government’s Decree No. 41/2010/ND-CP of April 12, 2010, on the credit policy to serve agricultural and rural development;
b/ Export production and business plans and projects as prescribed by the Commercial Law;

c/ Production and business activities of small- and medium-sized enterprises as specified in the Government’s Decree No. 56/2009/ND-CP of June 30, 2009, on supporting the development of small- and medium-sized enterprises;