- 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;
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.
Benefits
Terms and conditions
Types of services |
Short-term |
Long-term |
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Term of deposit |
6 months |
12 months |
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Currency |
MNT |
USD |
MNT |
USD |
Annual Interest |
13.00% |
3.0% |
14.0% |
4.0% |
Effective interest rate |
13.6% |
3.04% |
14.8% |
4.1% |
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 |
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Interest payment conditions |
Quarterly |
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Credit conditions |
Quarterly |
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Debit conditions |
Possible. With the approval of the Chief Financial Officer |
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Conversion |
At any time during the contract period, the full amount of the savings will be made. |
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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.
