Press release on issuance of Circular No. 04/2022/TT-NHNN
Hanoi, June 16, 2022 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 04/2022/TT-NHNN providing for the application of interest rates for premature withdrawals of deposits at the credit institutions and the foreign bank branches.
Circular No. 04/2022/TT-NHNN comprises of 07 Articles, namely: Scope of application; Subjects of application; Forms of deposits that are withdrawn prematurely; Premature withdrawals of fixed deposits; The interest rates applied to cases of premature withdrawals; Enforcement; Implementation arrangements.
Circular No. 04/2022/TT-NHNN shall replace Circular No. 04/2011/TT-NHNN dated March 10, 2011 providing for the application of interest rates for premature withdrawals of deposits at the credit institutions.
The new Circular will take effect from August 01, 2022.
Translated by LK.