- 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.
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- Corporate Banking
- Deposit account
Certificate of Deposit (CD)
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
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/.