Employer’s Incentive Savings

Our bank offers the new product “Employer’s Incentive Savings” with the most flexible and favorable conditions for the needs of the organization to create savings in order to encourage and activate its employees to work stably and settle down.

Advantages

The organization opens an account for the employee, earns regular income, and the employee has the right to dispose of it with the permission of the organization;
It is possible to determine the amount of income at the request of employees and organizations;
If the employee cancels the deposit before the end of the term, with the permission of the organization, the accrued interest can be paid in full, excluding the interest for late payment.
No account closing fees.

Terms and conditions

Employer’s Incentive Savings			Conditions
Account currency			MNT, USD
Terms			12 months	24 months	36 months
Annual interest rate	MNT	Nominal	13.50%	14.00%	14.00%
		Effective	14.37%	14.93%	14.93%
	USD	Nominal	4.00%	5.00%	5.50%
		Effective	4.07%	5.12%	5.64%
Interest rate upon early termination of contract			–
A fixed monthly income for the employer			1% of basic salary – …% /Decided within the framework of the organization’s policy./
A fixed monthly income for the employee			1% of basic salary – …% /Decided within the framework of the organization’s policy./
The percentage of earnings returned to the employee from the savings contributed by the employer at the time of termination of the savings			Decided within the framework of the organization’s policy.
Deposit condition			Possible
Withdrawal condition			End of the term
Interest capitalization			Monthly

Employer’s Incentive Savings

Advantages

Terms and conditions