- Earn high returns in a short 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 and 12 months deposit in MNT or USD and enjoy the benefit of converting between these two currencies without reducing your interest rate or exposing yourself to exchange rate risks.
Benefits
Terms and conditions
Types of services |
Short-term |
Long-term |
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Term of deposit |
6 months |
12 months |
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Currency |
MNT |
USD |
MNT |
USD |
Nominal interest rate |
13.00% |
3.0% |
14.0% |
4.0% |
Effective interest rate |
13.65% |
3.04% |
14.75% |
4.06% |
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 |
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Interest payment conditions |
Quarterly |
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Credit conditions |
Quarterly |
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Debit conditions |
Possible. With the approval of the Chief Financial Officer |
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Conversion |
At any time during the contract period, the full amount of the savings will be made. |
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Dear Customer, by depositing the interest you received into your savings account on the same day, you will have the opportunity to earn a return based on the “Effective Interest Rate”. If the interest is not re-deposited into your savings account, your returns will be calculated based on the Nominal Interest Rate.
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 |
Not allowed |
Eligibility or required documents
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Customer application form; /download here/
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For Mongolian citizens: Citizens ID card;
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For Foreign citizens: Passport and Residence permit in Mongolia;
