Lending rules: Vietnam
What the published rules require for unsecured consumer loans in Vietnam, in the order a loan is made, and how TS LMS handles each step.
Last reviewed 22 October 2026 · Email me when these rules change
Lender type covered Finance company (non-bank credit institution licensed by the SBV, incl. specialised consumer-credit finance companies)
- 01
What licence do you need to lend in Vietnam?
Licence and conduct rules
What the rules require
Under the Law on Credit Institutions No. 32/2024/QH15 (effective 1 July 2024), finance companies are non-bank credit institutions, and a specialised finance company focuses on factoring, consumer credit or financial leasing. The State Bank of Viet Nam (SBV) grants, amends and revokes licences under the Law. Consumer lending by finance companies is governed by SBV Circular 43/2016/TT-NHNN as amended by Circular 18/2019/TT-NHNN, while SBV Circular 39/2016/TT-NHNN sets general lending rules for credit institutions, including non-bank credit institutions and microfinance institutions.
Effective 1 July 2024 · Rules as of 1 July 2024 · Source: Luật Các tổ chức tín dụng số 32/2024/QH15 (Law on Credit Institutions No. 32/2024/QH15) · Luật số 32/2024/QH15 – Công báo record (effective 01/07/2024) · Văn bản hợp nhất 86/VBHN-NHNN: Thông tư 39/2016/TT-NHNN quy định về hoạt động cho vay của tổ chức tín dụng (consolidated incl. Circulars 06/2023, 10/2023, 12/2024, 52/2025, 29/2026) · Thông tư 18/2019/TT-NHNN sửa đổi, bổ sung Thông tư 43/2016/TT-NHNN quy định cho vay tiêu dùng của công ty tài chính
How TS LMS handles it
Products, credit rules and limits are set up for each lender and country. Changes to credit policy and to products need a second person's approval, and every change is kept in the audit log.
- 02
Is there an interest rate cap in Vietnam?
Interest rate cap
What the rules require
Under SBV Circular 39/2016/TT-NHNN, credit institutions and customers agree lending interest rates according to market supply and demand for funds. Interest on overdue principal may not exceed 150% of the in-term lending rate, and late-payment interest on unpaid interest may not exceed 10% per year on the overdue interest balance.
Effective 15 March 2017 · Rules as of 15 August 2026 · Source: Văn bản hợp nhất 86/VBHN-NHNN: Thông tư 39/2016/TT-NHNN quy định về hoạt động cho vay của tổ chức tín dụng (consolidated incl. Circulars 06/2023, 10/2023, 12/2024, 52/2025, 29/2026)
How TS LMS handles it
Each product can carry an annual rate ceiling and always carries a ceiling on the total cost of credit; a quote above either is refused.
- 03
How are loan fees regulated in Vietnam?
Fees and disclosure of cost
What the rules require
Under Circular 39/2016, credit institutions and customers may agree only on the lending-related fee types listed in the Circular, which include early repayment, standby credit line, syndication arrangement and drawdown commitment fees. Under Circular 43/2016 as amended, a finance company must publicly post its consumer loan interest-rate range, fee types and interest calculation method at its head office, branches, service points and website, and report its rate range within 10 working days of issuing or amending it.
Effective: being checked against the official text · Rules as of 15 August 2026 · Source: Văn bản hợp nhất 86/VBHN-NHNN: Thông tư 39/2016/TT-NHNN quy định về hoạt động cho vay của tổ chức tín dụng (consolidated incl. Circulars 06/2023, 10/2023, 12/2024, 52/2025, 29/2026) · Thông tư 18/2019/TT-NHNN sửa đổi, bổ sung Thông tư 43/2016/TT-NHNN quy định cho vay tiêu dùng của công ty tài chính
How TS LMS handles it
Every charge on a product counts towards the rate check, each product carries a ceiling on the total cost of credit, and staff cannot set a charge above the product's.
- 04
What affordability checks are required in Vietnam?
Assessment of ability to repay
What the rules require
Circular 39/2016 makes financial capacity to repay a condition for a loan and requires the credit institution to appraise whether the customer meets the loan conditions, for which it may use internal credit ratings together with data from the National Credit Information Centre (CIC). Under Circular 43/2016 as amended by Circular 18/2019 (effective 1 January 2020), a finance company may disburse consumer loans directly to the customer only if the latest CIC report shows no bad debt.
Effective: being checked against the official text · Rules as of 15 August 2026 · Source: Văn bản hợp nhất 86/VBHN-NHNN: Thông tư 39/2016/TT-NHNN quy định về hoạt động cho vay của tổ chức tín dụng (consolidated incl. Circulars 06/2023, 10/2023, 12/2024, 52/2025, 29/2026) · Thông tư 18/2019/TT-NHNN sửa đổi, bổ sung Thông tư 43/2016/TT-NHNN quy định cho vay tiêu dùng của công ty tài chính
How TS LMS handles it
Income and the debt-to-income ratio are assessed and kept with the credit decision; a limit above the suggested amount needs a written reason.
- 05
Can loan contracts be signed electronically in Vietnam?
Loan agreement and electronic signature
What the rules require
How TS LMS handles it
Where loans are signed electronically, the agreement is stored unchanged and signed only after approval, and the signature record keeps who signed, when, the agreement's fingerprint and the device. Money is released by a second staff member who is not the approver, and not if the payout account differs from the one approved.
- 06
What identity checks and anti-money laundering duties apply in Vietnam?
KYC and AML/CFT
What the rules require
How TS LMS handles it
ID document and face checks, and sanctions and PEP screening, are built in. A sanctions match blocks approval and release until compliance clears it with a second officer's confirmation, and a PEP match needs a written enhanced due-diligence note before staff approval.
- 07
What are the data protection and credit bureau rules in Vietnam?
Personal data and credit bureau
What the rules require
How TS LMS handles it
Personal data is kept for set periods by type and then removed, and a borrower's request to access their data can be answered from the system. Contacting a borrower's emergency contact requires the borrower's recorded consent.
- 08
How is debt collection regulated in Vietnam?
Debt collection
What the rules require
How TS LMS handles it
Calls and messages are limited to set hours, and calls to a set number a day. Contact with third parties can be switched off entirely, or allowed only as an exception with the borrower's consent and, where set, compliance approval, using a script that never mentions the debt. Every contact is logged.
This page summarises published rules for general information; it is not legal advice. Rules change: check the current text with the authority before acting.