Central bank revises up interest rates by 1% from October 25

VNA -

Tuesday, October 25, 2022 | 12:51:10

(VOVWORLD) -The State Bank of Vietnam on Monday decided to revise up several interest rates by 1%, starting from Tuesday.

Central bank revises up interest rates by 1% from October 25 - ảnh 1

The headquarters of the State Bank of Vietnam (Photo: VNA)

The refinancing interest rate will be set at 6% per year, rediscount at 4.5%, and overnight inter-banking lending rate at 7%.

The maximum interest rate for non-term and one-month deposits in VND is capped at 1% annually and that for 1-6 month deposits, 6%. Deposits of 1-6 months at people’s credit funds and micro-finance organisations will enjoy an annual interest rate of 6.5%.

Meanwhile, the maximum short-term lending interest rate in VND at credit institutions for the capital demand for a number of economic sectors increased to 5.5%, and those at people’s credit funds and micro-finance organisations to 6.5%.

VNA