State Bank revises up interest rates by 1% from September 23

State Bank revises up interest rates by 1% from September 23. (Photo: VNA)

Under the Decision No. 1606/QĐ-NHNN dated September 22, the refinancing interest rate will be set at 5% per year, rediscount at 3.5%, and overnight inter-banking lending rate at 6%.

Under another decision, the interest rate for non-term and one-month deposits in Vietnamse dong is capped at 0.5% annually while that for 1-6 month deposits is 5%.

Deposits of 1-6 months at people’s credit funds and micro-finance organisations will enjoy an annual interest rate of 5.5%.

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