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Directions for Displaying Interest Rate by Financial Institutions

Prescribed on October 21, 1994
Amended on January 21, 1995
Amended on July 17, 1995
Renamed and amended on March 8, 2001; effective from March 12, 200

1. Except where otherwise provided by law or regulation, 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 accounts, 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 accounts, the applicable interest rate for each account shall be determined monthly on the basis of the average daily balance for the month.

4. Depending on the type of customer and the nature of the deposit, financial institutions may post different interest rates for deposits falling under a single category (demand deposits, demand savings accounts, time deposits, time savings deposits), provided that the financial institution shall file a written report with the Central Bank of China.

5. The provisions of Directions 2 to 4 shall be waived with respect to acceptance of redeposits from grassroots financial institutions and the Directorate General of Postal Remittances & Savings Banks, and for deposits from other banks and deposits of treasury.

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.

7. Financial institutions shall post the prime lending rate, the revolving credit card interest rate, and other lending rates that must be posted in accordance with the regulations of the Central Bank of China.

8. Posted interest rates on New Taiwan Dollar deposits and loans shall be one interest rate.

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

(Remarks : This Act is made in Chinese which shall prevail in case of any discrepancy between the English translation and the Chinese original.)