- High interest return in comparativily 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;
- Home
- Organization
- Savings
Convertible term deposit
Convertible term deposit
Your organization can open a long or short-term deposit in MNT or USD, convert between these 2 currencies at any time, and get a return without reducing the interest rate and without being exposed to any exchange rate risk. Conversion transactions will be made at the non-cash exchange rate of USD and MNT specified in the contract
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% |
| 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 |
|||
|
Conversion
|
At any time during the contract period, the full amount of the savings will be made. | |||
|
Savings book
|
Free | |||
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 |
| Credit conditions |
End of the period |
| Debit conditions |
Impossible |
Eligibility or required documents
- Customer application form; /download here/
- Official letter; /Request to open an account/
- A copy the registration certificate issued by the State Registration authorities;
- Company charter;
- Authorized signature, stamp /must be authorized by notary/; /download here/
- Authorized person’s documents such as identification card.
