Directions for Displaying Interest Rate by Financial Institutions

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Title：

Directions for Displaying Interest Rate by Financial Institutions

Announced Date： October 21, 1994

Amended Date： Amended on October 2, 2019

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1 Except where otherwise provided by laws or regulations, the posting of interest rates by financial institutions on New Taiwan dollar deposits and loans shall be handled in accordance with these Directions.

2 In accepting any of the various types of New Taiwan dollar deposits (demand deposits, demand savings deposits, time deposits, time savings deposits), financial institutions may freely post tiered interest rates that vary depending on the amount deposited (e.g. in units of million New Taiwan dollar).

3 For time deposits and time savings deposits, the applicable interest rate for each account shall be determined on the basis of the amount deposited. For demand deposits and demand savings deposits, the applicable interest rate for each account shall be determined monthly on the basis of the average daily balance for the month.

[Authorized Circulars]

4 For deposits falling under a single category (demand deposits, demand savings deposits,time deposits, time savings deposits), a financial institution may post different interest rates according to the type of customers and the nature of deposits, provided that the financial institution notifies the Central Bank of the Republic of China (Taiwan) (hereafter referred to as“the Bank”) for recordation in advance.

The procedure for recordation is deemed completed if the Bank does not object thereto within ten business days from the receipt of the aforementioned notice.

5 The provisions of Directions 2 to 4 shall not apply to the acceptance of redeposits from grassroots financial institutions and the Chunghwa Post Company Limited.

6 The provisions of Directions 1 to 4 above shall apply mutatis mutandis to the posting of interest rates by an investment and trust company accepting funds for deposit in a discretionary trust.

[Authorized Circulars]

7 Financial institutions shall, depending on their business activities, post the base lending rate, the benchmark interest rate of adjustable rates mortgages,the revolving credit card interest rate, the cash card interest rate and other benchmark lending rates specified by the Bank.

8 8.Posted interest rates on New Taiwan dollar deposits and loans shall be single interest rate.

9 9.When a financial institution changes its posted interest rates for New Taiwan dollar deposit interest rates and lending rates, it shall notify the Bank.