| Sakura term deposit | |||
| Tenor |
MNT |
USD |
JPY |
| 12 month | 15.5% p.a | 7.0% p.a | 6.0% p.a |
| Penalty interest rate (annual) | 4.8% | 1.2% | 0.6% |
| Tenor of the term deposit can be extended only at the date of maturity | |||
| Minimum balance requirement | No minimum balance requirement | ||
| Interest capitalization | Interest on the deposit is paid to the customer’s current account on quarterly basis | ||
| Deposits | It is possible to deposit into the term deposit account | ||
| Withdrawals | On the date of maturity, to the customer’s own specified bank account | ||
| Issuance of deposit-backed loans and credit cards | N/A | ||
| Co-account holder | N/A | ||
| Features:
· Customer can make deposit and withdraw transactions only between customer’s own bank accounts which is either a saving account or an account in a foreign bank under his/her title (Foreign remittance fees and charges related to the transaction shall be borne by the customer). · Interest on the deposit is paid quarterly to the customer’s current account and relevant taxes will be deducted. · At the end of term deposit contract, if no extension of the contract is requested, the deposit will be transferred to the demand deposit. · If the customer does not deposit the fund within 30 days after the bank account opening, the customer will be contacted to clarify whether the account should be closed. |
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