New regulations on deposit interest rates will be applied from November 20

DNVN - On November 13, the State Bank officially announced the issuance of decisions on deposit interest rates. Accordingly, the State Bank only revised the legal basis for issuance and did not change the deposit interest rates.

According to the State Bank, on September 30, this agency issued circulars regulating deposit interest rates, effective from November 20.

These are Circular No. 46/2024/TT-NHNN regulating the application of interest rates on USD deposits of organizations and individuals at credit institutions and foreign bank branches; Circular No. 48/2024/TT-NHNN regulating the application of interest rates on VND deposits of organizations and individuals at credit institutions and foreign bank branches.

To ensure consistency in legal basis during implementation, on November 1, the State Bank issued decisions regulating deposit interest rates. In particular, the State Bank only revised the legal basis for issuance and did not change the deposit interest rates.

Since November 20, the State Bank has not changed deposit interest rates.

Specifically, Decision No. 2410/QD-NHNN on maximum interest rates for USD deposits of organizations and individuals at credit institutions and foreign bank branches as prescribed in Circular No. 46/2024/TT-NHNN. The interest rate applied to organizational deposits is 0%/year; the interest rate applied to individual deposits is 0%/year.

Decision No. 2411/QD-NHNN on maximum interest rates for deposits in Vietnamese Dong of organizations and individuals at credit institutions and foreign bank branches as prescribed in Circular No. 48/2024/TT-NHNN. The maximum interest rate applied to demand deposits and deposits with terms of less than 1 month is 0.5%/year; the maximum interest rate applied to deposits with terms from 1 month to less than 6 months is 4.75%/year.

The maximum interest rate for deposits in Vietnamese Dong at people's credit funds and microfinance institutions is 5.25%/year; the interest rate for deposits with terms of 6 months or more is determined by credit institutions and foreign bank branches based on market capital supply and demand.

These decisions take effect from November 20.

Galaxy

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/se-ap-dung-quy-dinh-moi-ve-lai-suat-tien-gui-tu-ngay-20-11/20241113041724983