The National Assembly has passed the Deposit Insurance Law consisting of 8 Chapters and 41 Articles. This Law takes effect from May 1, 2026.
This Law stipulates deposit insurance activities; the rights and obligations of depositors, deposit insurance participants, deposit insurance organizations and state management of deposit insurance.
In addition, this Law also applies to people insured for deposits, organizations participating in deposit insurance, deposit insurance organizations, agencies, organizations and other individuals related to deposit insurance activities.
In particular, this Law stipulates measures to handle acts of late or late payment of deposit insurance premiums.
Accordingly, organizations participating in deposit insurance that violate the deadline for paying deposit insurance premiums according to the provisions of this Law, in addition to having to pay the remaining premiums, must bear a daily late payment fee equal to 0.05% of the unpaid amount, except for cases of late payment of deposit insurance premiums due to force majeure events according to the provisions of law or falling into cases of temporary suspension of payment of deposit insurance premiums paid insufficiently or late according to the provisions of this Law.
In case the deposit insurance organization detects inaccuracy in the calculation and payment of deposit insurance premiums, the deposit insurance organization is responsible for notifying and recovering the remaining premiums or recovering excess premiums within 15 days from the date of detection.
After 30 days from the date of payment of deposit insurance premiums, if the organization participating in deposit insurance does not pay or does not fully pay deposit insurance premiums and late payment interest, the deposit insurance organization shall have a written request to the State Bank of Vietnam to handle it according to the provisions of law.
