Month: May 2022

Categories
Working capital loan

Eligibility or required documents

  • Loan application letter;
  • Loan application /from Bank/;
  • Resolution of the Board of Directors/Shareholders’ Meeting/ on taking a loan. /The decision specifying the requested loan amount, interest rate, term, and collateral and appointing the person authorized to sign/;
  • A copy of the certificate and charter must be certified by a notary;
  • Copy of identity card of the person authorized to sign the loan agreement / founders, general director, executive director, etc., borrower’s resume;
  • Special licenses, business plans and other documents related to business activities;
  • References /in the name of Organization and major shareholders/
  • Other Required documents;
Categories
Regular term deposit

Benefits

  • Competitive interest rates;
  • No restrictions for deposit transactions;
  • Use as collateral for deposit-backed loans with a low interest rate;
  • Earn your interest income quarterly for term deposits with 12 to 24 month maturities;
  • Access and manage your account by using our online banking service
Categories
Regular term deposit

Terms and conditions

Terms

MNT

USD

EUR

CNY

JPY

Duration

Annual interest rate

1 month

 up to 10.50%

2.20%

1.20%

1.20%

1.20%

2 months

up to 10.50%

2.50%

1.20%

1.20%

1.20%

3 – 6 months

11.00%

4.00%

3.60%

4.50%

3.30%

7 – 9 months

11.50%

4.00%

3.60%

4.50%

3.30%

10 – 11 months

12.00%

4.00%

3.60%

4.50%

3.30%

12 months

Nominal interest rate

14.00%

4.00%

3.60%

4.50%

3.30%

Effective interest rate

14.75%

4.06%

3.65%

4.58%

3.34%

13 – 18 months

Nominal interest rate

14.00%

5.00%

3.60%

4.50%

3.30%

Effective interest rate

14.75%

5.09%

3.65%

4.58%

3.34%

19 – 24 months

Nominal interest rate

14.00%

5.50%

–

–

–

Effective interest rate

14.75%

5.61%

–

–

–

Early termination interest rate

2.4%-4.8%

1.2%

0.6%

0.6%

0.6%

Minimum balance requirement

10,000 MNT

10 USD

10 EUR

100 CNY

1,000 JPY

Interest payment conditions

  • Savings with a maturity of 1 to 11 months;

  • 12-24 month deposits will be given quarterly interest;

Withdrawal conditions

  • At the end of every 3 months for 12-month deposits;

  • For deposits with a term of 13 to 24 months, you are allowed to make one withdrawal during a 7-day calendar period at the end of every 6 months.
  • 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.
  • For clients with a stable financial relationship or of strategic importance, the interest rate and other terms of the deposit may be adjusted with the approval of the CEO
Categories
Regular term deposit

Eligibility or required documents

  • Customer application form; /download here/
  • Official letter; /Request to open an account/
  • A copy of 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;
Categories
Current account for Gold

Benefits

  • Placing your physical gold termless;
  • Secure and safe custodian service;
  • No charge fees for withdrawal and transaction;
Categories
Current account for Gold

Terms and conditions

Terms and conditions
Account currency XAU – Gold
Annual interest rate 0.0%
Minimum balance requirement –
Categories
Other fees for deposit accounts

Other fees

Service  MNT USD EUR CNY JPY RUB KRW GBP
Cash deposit Minor Bills* – 2.0% 2.0% 2.0% 0.3% 8.0% 1.5% –
Other bills – – – – 0.3% 5.0% –
Cash withdrawal Current and savings accounts

 

 200 MNT 200 MNT + additional fee for cash currency (see below)
0.5% 0.5% 0.5% 0.5% 3.0% 1.5% 0.5%
Transfer Transfer within the bank 100 MNT Currency equivalent to 200 MNT
Transfer to other bank
Up to 5,000,000₮ 200 MNT 1,500 MNT
Over 5,000,001₮ 500 MNT
Cash Deposit for Interbank Transfer 1,000 MNT
Opening an Account Free
Account Service Fee Active account (Monthly) Free
Inactive Account (Monthly) 2,000 MNT Currency equivalent to 2,000 MNT
Demand Deposit /At Year-End/ 1,000 MNT Currency equivalent to 1,000 MNT
Close account 1,000 MNT Currency equivalent to 1,000 MNT
Categories
Other fees for deposit accounts

Notes

*For USD small denominations include bills of 1, 2, 5, and 10, for EUR bills of 5 and 10, for CNY bills of 1, 5, 10, and 20, for RUB bills of 10, 50, and 100.

Categories
Other fees for deposit accounts

Interbank transfer

Interbank transfers can be made in the following currencies: MNT, USD, EUR, CNY, JPY, RUB, and GBP.

Categories
Other fees for deposit accounts

Cash currencies fee

  • A fee will be charged if small denominations are included when making cash transactions or deposits into a foreign currency account.

  • A fee will be charged if small denominations are included when paying loan interest or principal in cash.

  • A fee will be charged when making cash disbursements from a loan granted to a foreign currency account in non-cash form.

  • A fee will be charged if foreign currency cash is deposited into a current account and then transferred non-cash to another customer, and that customer withdraws the funds in cash.

  • A fee will be charged if non-cash transactions or deals are conducted in a foreign currency account and funds are withdrawn in cash.

  • If the amount of cash withdrawals exceeds the amount of cash deposits, a fee will be charged on the difference.