Certificate of Deposit (CD)
Our CD (Certificate of deposit) is a very special product where a bank gives you a certificate for owning a deposit account, which you can later use it for selling, gifting, inheriting, or transferring it to someone else. We are offering CD accounts available in both MNT and USD currencies to be opened.
Benefits
  • Interest rates are higher than deposit accounts on the market;
  • CDs are often considered as good as securities;
  • Allows the owner of the CD to inherit, sell, gift or transfer;
  • Can be used as collateral for savings-backed loans with a low interest rate.
Terms and conditions

 

Terms

Annual Interest rate

Tenor

MNT

USD

1 month

10.50%

2.20%

3, 6, 9 months

12.50%

4.00%

12 months

13.2%

4.00%

Interest rate upon early termination of contract /annual/

4.80%

1.20%

Minimum deposit

100,000,000 MNT and 500,000,000 MNT.

100,000 USD and 500,000 USD.

Interest payments

At the end of the contract

Interest on ‘Repo’ financing

Annual interest rate + 4.00%

No repo financing

Other conditions

No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account)

 

 

Fees and charges
Eligibility or required documents
  • Application form for legal entities /download here/;
  • An official letter for opening a new bank account on company headed notepaper;
  • An original copy and a copy of license from the Financial Regulatory Commission;
  • Notarized copy of the Company’s ‘State Registration Certificate’;
  • Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
  • Notarized signature of applicant /download here/;
  • Declaration of Beneficial Ownership /download here/;
  • Copy of ID card of the authorized personnel to dispose with an account;
  • Additional documents /if necessary/.