ANNOUNCEMENT On the interest rate support in 2023 according to Decree No. 31/2022/ND-CP and Circular No. 03/2022/TT-NHNN

Pursuant to Notice No. 611/TB-NHNN dated December 30th, 2022 of the State Bank of Vietnam (SBV) on the expected interest rate support limit in 2023 according to Decree No. 31/2022/ND-CP and Circular No. 03/2022/TT-NHNN on the official letter of registration of interest rate support plan of Indovina Bank Limited (IVB) dated June 2nd, 2022, Indovina Bank Limited informs all customers about information on interest rate support as follows:

  • Object of interest rate support:

Enterprises, cooperatives, and household businesses receiving interest subsidies which:

+Loan purpose belonging to one of registered sectors mentioned under Decision No. 27/2018/QD-TTg dated July 6th, 2018 of the Prime Minister on Vietnam's economic sectors, including: transport and storage (H); travel (N79); accommodation and food services activities (I); education and training (P); agriculture, forestry and fishing (A); manufacturing (C); software publishing (J582); computer programming, consultancy and related activities (J62); information service activities (J63); including construction activities serving the above mentioned economic sectors but excluding construction activities serving real estate trading mentioned under code (L) according to Decision No. 27/2018/QD-TTg; or

+Loan purpose to execute projects for the construction of social houses, houses for workers, renovation of old apartment buildings on the lists of projects consolidated and announced by the Ministry of Construction.


  • Conditions for interest rate support:

Customers at IVB must simultaneously satisfy the following conditions to enjoy interest rate support:

  1. Customers have request for interest rate support according to IVB’s form.
  2. The loan agreement between the customer and IVB was signed and disbursed during the period from January 1st, 2022 to December 31st , 2023.
  3. The loan has not been supported by interest rates from the state budget according to other policies.
  4. The loan currency is Vietnam dong (not applicable to products specified in Decision No. 410/IVB-BOE/2016 and related amendments, supplements and replacements from time to time).
  5. Customers using loan funds are entitled to interest rate support for the right purposes as prescribed in Object of interest rate support.
  6. At the time of interest rate support consideration, customer does not have loans with overdue principal balance and/or overdue interest balance. The time to determine the overdue principal balance and late payment interest balance is the time of collection of principal debt and interest as agreed between IVB and the customer recorded in the loan agreement/loan contract/credit line contract/debt repayment commitment.
  7. Loans of customers in the case of debt extension are not supported with interest rates for the debt extension period (including the case of debt extension according to Circular No. 01/2020/TT-NHNN dated March 13th, 2020 and related amendments, supplements (if any) on credit institutions and foreign bank branches restructure debt repayment terms, exempt or reduce interest and fees, and maintain debt groups to support customers affected by Covid-19).
  • Support interest rate: The support interest rate shall be 2%/year of the loan outstanding balance and the actual interest rate support loan term.
  • Methods of subsidizing interest rate: IVB will collect the entire loan interest from the customer within the period and refund the customer the supported amount of loan interest on the next working day of interest collection.
  • Application reception time: From January 01st, 2023 to December 31st, 2023 or until the funding (interest rate support limit) runs out that IVB was notified by SBV, whichever comes first.

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