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From August, depositors will be insured up to 75 million

 

Prime Minister Nguyen Xuan Phuc has just signed Decision No. 21/2017 / QD-TTg on insurance premiums.


Accordingly, the Decision provides for the limit of insurance payment under Clause 2, Article 24 of the Law on Deposit Insurance.

Objects of application include: insured deposit; Organization participating in deposit insurance; Deposit insurance institution; Other institutions, organizations and individuals involved in deposit insurance.

According to the decision, as of 5/8/2017, the sum insured is paid for all insured deposits in accordance with the Law on Deposit Insurance (including principal and interest) of an individual at one The maximum deposit insurance participating organization is VND 75 million.

Thus, the deposit insurance rate applied from August will increase 50% compared with current regulations.

Other relevant developments, according to updated data, are the current balance of deposits of organizations and individuals in the bank reached over 6 million billion. Thanks to this abundant capital, banks also get nearly VND 6 trillion in loans to the economy.

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