THE STATE BANK OF VIETNAM

Circular No. 10/2013/TT-NHNN dated May 10, 2013 of the State Bank of Vietnam promulgating the maximum interest rate for VND short-term loans of the credit institutions and foreign bank’s branches for the customers to satisfy funds demand serving some economic areas and sectors
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 June 16, 2010;
Pursuant to the Decree No. 96/2008/ND-CP dated August 26, 2008 of the Government defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of Director of Department of Monetary Policy;
The Governor of the State Bank of Vietnam issues the Circular promulgating the maximum interest rate for VND short-term loans of the credit institutions and foreign bank’s branches for the customers to satisfy funds demand serving some economic areas and sectors,
Article 1. Vietnam dong (VND) short-term loaning interest rates foreign bank’s branches and credit institutions
1. The maximum short-term loaning interest rate in VND is 10% per annum; people's credit funds and microfinance institutions may impose the maximum interest rate of 11% per annum on short-term loans in VND. 
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;