Accordingly, the credit institution and foreign bank’s branches shall impose deposit’s interest rates in VND of organizations (excluding credit institutions and foreign bank’s branches) and individuals, including the expenditure on promotion in all form shall impose the maximum interest rate of deposits with term one month and less than 12 months is 7.5% per annum (8% per annum in previous regulations); People's Credit Funds and Microfinance Organizations may fix the maximum interest rate applicable to deposits with term one month and less than 12 months to be of 8% per annum (8.5% per annum in previous regulations).
Besides, this Decree also remains the maximum interest rate of demand deposits and deposits with term of less than one month is 2% per annum. Credit institutions and foreign bank’s branches shall fix the interest rates of the deposits with terms of 12 months or more on the basis of market capital demand and supply.
This Circular takes effect on March 26, 2013 and replaces the Circular No. 32/2012/TT-NHNN dated December 21, 2012.
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