The State Bank of Vietnam (SBV) had just issued a decision on the interest rates applicable to mandatory reserve deposits and the one exceeding the compulsory reserves of credit institutions and foreign bank branches; dong deposits of Vietnam Development Bank (VDB), Vietnam Bank for Social Policies (VBSP), People’s Credit Funds, Microfinance Institutions; deposits of the State Treasury, Vietnam Deposit Insurance.
Accordingly, to match the macroeconomic developments and interest rates in the market, SBV stipulated the following.
For compulsory reserve deposits and the one in excess of mandatory reserves of credit institutions at SBV, the interest rate on required reserve deposits in dong was 0.8 percent per year, interest rates for the deposit in excess of the compulsory reserve in dong was zero percent per year, the interest rate on the mandatory reserve in foreign currency was zero percent per year, the interest on the deposit in excess of the compulsory reserve in foreign currency was 0.05 percent per year.
With dong deposits from VDB, VBSP, People’s Credit Funds, Microfinance Institutions at SBV, the interest rate was 0.8 percent per year.
The interest rate on dong deposits of the State Treasury was one percent per year, and on foreign currencies was 0.05 percent per year. The interest rate for dong deposits of Vietnam Deposit Insurance was 0.8 percent per year.
