Savings

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

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;

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
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.

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Benefits

Terms and conditions

Eligibility or required documents