DECISION

REGARDING COMMERCIAL BANKS’ INTEREST RATES APPLIED IN 2022 TO OUTSTANDING HOME LOANS UNDER THE PROVISIONS OF CIRCULAR NO. 11/2013/TT-NHNN DATED MAY 15, 2013, CIRCULAR NO. 32/2014/TT-NHNN DATED NOVEMBER 18, 2014 AND CIRCULAR NO. 25/2016/TT-NHNN DATED JULY 29, 2016  

STATE BANK’S GOVERNOR

Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010;

Pursuant to the Law on Amendments and Supplements to the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government's Decree No. 16/2017/ND-CP dated February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Resolution No. 02/NQ-CP dated January 7, 2013 pertaining to several measures to relieve business and production difficulties, support market and treat bad debts;

Pursuant to the Government's Decree No. 61/NQ-CP dated August 21, 2014 on amendments and supplements to the Government’s Resolution No.02/NQ-CP dated January 7, 2013;

Pursuant to the Circular No. No. 11/2013/TT-NHNN dated May 15, 2013 of the Governor of the State Bank of Vietnam, prescribing home loans under the Government’s Resolution No. 02/NQ-CP dated January 7, 2013;

Pursuant to the Circular No. 32/2014/TT-NHNN dated November 18, 2014 of the Governor of the State Bank of Vietnam, amending and supplementing several Articles of the Circular No. No. 11/2013/TT-NHNN dated May 15, 2013;

Pursuant to the Circular No. 25/2016/TT-NHNN dated July 29, 2016 of the Governor of the State Bank of Vietnam, amending and supplementing several Articles of the Circular No. No. 11/2013/TT-NHNN dated May 15, 2013;

Upon the request of the Director of the Monetary Policy Department,

HEREIN DECIDES

Article 1. Commercial banks’ interest rate applied in 2022 to outstanding home loans under the provisions of the Circular No. 11/2013/TT-NHNN dated May 15, 2013, the Circular No. 32/2014/TT-NHNN dated November 18, 2014 and the Circular No. 25/2016/TT-NHNN dated July 29, 2016 shall be 4.8%/year.

Article 2. This Decision shall enter into effect as from January 1, 2022 and replace the Decision No. 2196/QD-NHNN dated December 24, 2020 of the Governor of the State Bank of Vietnam regarding commercial banks’ interest rate applied in 2022 to outstanding home loans under the provisions of the Circular No. No. 11/2013/TT-NHNN dated May 15, 2013, the Circular No. 32/2014/TT-NHNN dated November 18, 2014 and the Circular No. 25/2016/TT-NHNN dated July 29, 2016.

Article 3. The Chief of the Office, the Director of the Financial Policy Department and Heads of units affiliated to the State Bank of Vietnam, Directors of the State Bank branches located in centrally-affiliated cities and provinces; Chairs of Management Boards, Boards of Members and General Directors (Directors) of commercial banks providing home loans shall be responsible for implementing this Decision./.

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