- High interest return in shorter period of time;
- Hedging against exchange rate risk;
- Earn your interest on quarterly basis;
- Withdrawals are allowed for 7 calendar days in each quarter
Convertible deposit
Open a 6-month term deposit in MNT or US dollars and freely convert between the two currencies. With our /Convertible Deposit/ service, you can earn interest returns with no reduction in the interest rate or facing exchange rate risks.
Benefits
Terms and conditions
|
Types of services |
Short-term | Long-term | ||
| Term of deposit | 6 months |
12 months |
||
|
Currency |
MNT | USD | MNT | USD |
| Annual Interest | 15.00% | 5.0% | 16.0% |
6.0% |
|
Effective interest rate |
15.9% | 5.1% | 17.0% |
6.1% |
|
Interest payment on early termination |
2.4%-4.8% | 1.20% | 2.4%-4.8% | 1.20% |
| Minimum balance | 200,000,000 MNT and equivalent USD |
500,000,000 MNT and equivalent USD |
||
|
Interest payment conditions |
Quarterly | |||
| Credit conditions |
Quarterly |
|||
|
Debit conditions |
Possible. With the approval of the Chief Financial Officer | |||
| Conversion |
At any time during the contract period, the full amount of the savings will be made. |
|||
Foreign currency convertible savings
|
Currency |
USD |
| Terms |
12 months |
|
Annual Interest |
4.0% |
|
Interest payment on early termination |
1.2% /annual/ |
|
Minimum balance |
100,000,000 MNT and equivalent USD |
|
Interest payment conditions |
End of the period |
| Withdrawal condition |
End of the period |
| Deposit transactions |
Impossible |
Eligibility or required documents
-
Customer application form; /download here/
-
For Mongolian citizens: Citizens ID card;
-
For Foreign citizens: Passport and certificate of alien registration;
