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Month: May 2022
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Customer application form; /download here/
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For Mongolian citizens: Citizens ID card;
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For Foreign citizens: Passport and Residence permit in Mongolia;
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2022
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2021
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Credit Ratings of TransBank
Transport Development Bank CJSC (TransBank) has been rated by Moody’s Investors Service since 2018.
Hong Kong, June 11 -12 Moody’s Ratings (Moody’s) has completed a periodic review of the ratings of TransBank and indicated the Bank’s “B3” local-and foreign-currency long term deposit ratings are at the same level as its Baseline Credit Assessment of “b3”.
The Moody’s also highlighted that the Bank’s capitalization is solid, with its tangible common equity (TCE)/risk-weighted assets (RWA) at 19.3% as of year -end 2023. The Bank had strong loan growth since the year 2020. Moody’s expects this trend to contine given the bank’s rapid loan growth target. Over the next few years, Moody’s forecasts TransBank’s capitalization to reach a level comparable with that of its commercial bank peers at mid-10%
| Outlook | Negative |
| Counterparty Risk Rating – Foreign currency | В3/NP |
| Counterparty Risk Rating – Domestic currency | B2/NP |
| Bank Deposits | B3/NP |
| Baseline Credit Assessment | b3 |
| Issuer Rating | B3 |
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Benefits
- Earn monthly interest on your deposits; ensuring a steady source of income;
- Additional deposits can be made at any time;
- Benefit from a higher than market average interest rate;
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Terms and conditions
Account currency |
MNT |
USD |
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Term of deposit |
Nominal interest rate |
Effective interest rate |
Nominal interest rate |
Effective interest rate |
3 – 6 months |
11.3% |
11.9% |
3.8% |
3.87% |
7 – 12 months |
12.5% |
13.24% |
3.8% |
3.87% |
Interest payment on early termination |
2.4%-4.8% |
1.2% |
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Minimum balance |
1,000,000 MNT |
1,000 USD |
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Interest payment conditions |
Every month |
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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.
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Other fees
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Customer application form; /download here/
- For Mongolian citizens: Citizen’s ID card;
- For Foreign citizens: Passport and Residence permit in Mongolia;
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Benefits
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Benefit from the highest deposit interest rates offered by the bank;
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Open a deposit account for children under 18 years of age, with the flexibility to extend it annually;
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Directly receive government child allowance into the account;