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Employees can make voluntary contributions;
- The account to which interest is credited will be determined by the employer’s policy;
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Interest will not be deducted;
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- Savings
Employer Incentive Deposit
Employer Incentive Deposit
We offer an employee savings product designed to enhance workplace benefits.
Benefits
Terms and conditions
Conditions |
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Account currency |
MNT, USD |
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Term of deposit |
36 months |
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Annual interest rate |
Terms |
12 months |
24 months |
36 months |
MNT |
13.5% |
14.0% |
14.0% |
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USD |
4.0% |
5.0% |
5.5% |
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Effective interest rate |
MNT |
14.37% |
14.93% |
14.93% |
USD |
4.07% |
5.12% |
5.64% |
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Interest payment on early termination |
Interest will not be deducted |
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Monthly income for the employer |
1% of salary – …% or a fixed amount |
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Monthly income for the employee |
1% of salary – …% or a fixed amount |
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The percentage of income to be returned to the employee from the savings made by the employer at the time of termination of the savings |
Determined by organizational policy. |
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Debit transactions |
Possible |
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Withdrawal condition |
At the end of the period |
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Method of interest |
Compound method |
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Interest payment conditions |
Monthly |
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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.
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/
