Officially lowered the ceiling interest rate to 11%/year from May 28

The State Bank also reduced the refinancing interest rate from 13%/year to 12%/year, the interbank electronic payment lending interest rate from 14%/year to 13%/year, and the rediscount interest rate from 11%/year to 10%/year..

According to the announcement of the State Bank, under the direction of the Government, the macro-economic situation has changed positively, CPI in May increased by 0.18%, only increased by 8.34% compared to the same period. However, production and business activities still face many difficulties, market purchasing power has decreased, interest rates have decreased but capital costs are still high.

Based on the practical developments of the macro economy and the monetary market, the State Bank of Vietnam has issued a document adjusting the operating interest rate, effective from May 28, 2012. Specifically:

- Reduce refinancing interest rate from 13%/year to 12%/year, interbank electronic payment lending interest rate from 14%/year to 13%/year, rediscount interest rate from 11%/year to 10%/year.

- Maximum interest rate for VND deposits with no term and term of less than 1 month is reduced from 4%/year to 3%/year, and for term of more than 1 month from 12%/year to 11%/year; only the grassroots People's Credit Fund sets the maximum interest rate for deposits with term of 1 month or more reduced from 12.5%/year to 11.5%/year.

- Lending interest rates for encouraged sectors such as rural agriculture, export, supporting industry, small and medium enterprises will be reduced to 14%/year from the current 15%/year.

According to TTVN-M