Pursuant to the law the State Bank of Vietnam the number 46/2010/QH12 16 June 2010;
Pursuant to the law on credit institutions the number 47/2010/QH12 16 June 2010;
Pursuant to Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and structure of the State Bank of Vietnam;
Proposal of the Director of monetary policy;
The Governor of the State Bank of Vietnam issued a circular regulating interest rates for short-term loans in Vietnam's maximum credit institutions, branches of foreign banks for borrowers to meet demand which served a number of areas, the economic sector, article 1. Short-term lending rate in Vietnam's credit institutions, branches of foreign banks 1. Short-term lending rate maximum by Vietnam bronze (=) the maximum interest rate for deposit in Vietnam from term 1, and over by the State Bank of Vietnam stipulates plus (+) 3% per year.
2. short-term loans in Vietnam applied the maximum lending rate as defined in paragraph 1 of this article is the loans to meet capital needs: a) serves the areas of agriculture, rural development as stipulated in Decree No. 41/2010/ND-CP dated 12 April 2010 by the Government on credit policy of agricultural development rural enterprises;
b) implementation plan, the project production-export business under the provisions of the commercial law;
c) production-business of the small and medium enterprise as stipulated in Decree No. 56/2009/ND-CP dated 30 June 2009, the Government's support for small and medium enterprise development;
d) industry development support as defined in decision No 12/2011/QD-TTg dated 24 February 2010 by the Prime Minister on the development of a number of industry support.
Article 2. The responsibilities of the borrower 1. Loan clients of credit institutions, branches of foreign banks apply for loan interest rate specified in article 1 of this circular is the customer eligible for loans under the rules of the State Bank of Vietnam about the lending activity of credit institutions and to customers are credit institutions foreign bank branches, the transparency financial situation, healthy.
2. The borrower is responsible for providing information, documents proving the purpose of loans in these sectors, the field are apply for loan interest as prescribed in this circular and responsible before the law about the truthfulness, accuracy of the information, the materials were provided.
Article 3. The responsibility of the credit institutions, branches of foreign banks 1. Credit institutions, foreign bank branches listed for loan interest rates; the criteria determining the client as specified in paragraph 2 to article 1 and article 2 paragraph 1 of this circular.
2. Credit institutions, branches of foreign banks make loans for the clients specified in this circular under the provisions of the law on rate, lending operations guaranteed safety in the business activities of the credit institution and the provisions of the relevant legislation; not collect fees related to loans to customers, excluding some charges as specified in circular No. 5/2011/TT-NHNN dated Jan. 10, 2011 of the Governor of the State Bank of Vietnam stipulates a fee for the loan of the credit organization for the client.
Article 4. Implementation 1. This circular effect since May 8, 2012.
2. loan interest rate applicable to the credit contract is concluded before the date of this circular have the effect was continued under the credit contracts concluded in accordance with the law at the time of signing the contract.
3. With regard to the loan in addition to the provisions of this circular, credit institutions, branches of foreign banks perform as specified in circular No. 12/2009/TT-NHNN on April 14, 2010 by Governor of the State Bank of Vietnam guide lending credit institutions in Vietnam to the customer according to the interest rate agreement.
4. Office, Director of monetary policy and the heads of the units of the State Bank of Vietnam, the Director of the State Bank of Vietnam branch of the province, central cities; Chairman of the Board, the Chairman of the Board members and the ceo (Director) credit institutions, branches of foreign banks, other organizations and individuals concerned is responsible for the implementation of this circular.