Author: Batbayar

Categories
Certificate of Deposit (CD)

Terms and conditions

Terms

Annual Interest rate

Tenor

 MNT

USD
1 month

10.50%

2.20%
3, 6, 9 months

12.50%

4.00%
12 months

13.2%

4.00%
Interest rate upon early termination of contract /annual/

2.4%-4.8%

1.20%
Minimum deposit

100,000,000 MNT and 500,000,000 MNT.

100,000 USD and 500,000 USD.
Interest payments

At the end of the contract
Interest on ‘Repo’ financing

Annual interest rate + 4.00%

No repo financing
Other conditions

No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account)

 

 

 

Categories
Certificate of Deposit (CD)

Fees and charges

Other deposit account fees

Categories
Certificate of Deposit (CD)

Eligibility or required documents

  • Customer application form /download here/;
  • Documents required:
    • For Mongolian citizens: Citizen’s ID card;
    • For Foreign citizens: Passport and Certificate of Alien Registration.
Categories
Gold deposit

Benefits

  • Protection from all types of theft, fraud and gold price change risks;
  • Interest rate will be based on international gold prices and expressed in Troy ounces (OZ);
  • Receive interest payments every quarter;
Categories
Gold deposit

Terms and conditions

Gold deposit terms
Account currency XAU- GOLD /OZ/

Tenor

 1 – 3 months 6 months 9 months

12 months
Annual Interest rate

2.25%

 2.5% 2.75%

3.0%
Interest rate upon early termination of contract /annual/

1.0%
Fees for withdrawing cash from savings

1.5%
Minimum deposit

–
Interest payments

Quarterly
Savings book

Free
Categories
Gold deposit

Fees and charges

Other account fees

Categories
Gold deposit

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy and a copy of license from the Financial Regulatory Commission of Mongolia;
  • Documents required:
    • For Mongolian citizens: Citizen ID card.
Categories
Demand deposit

Benefits

  • Make withdrawal and deposit transactions at any time;
  • Open your account in 5 major currencies including Mongolian Tugriks (MNT), USD, EUR, CNY and JPY;
  • Access and manage your bank account using our online banking service.
Categories
Demand deposit

Terms and conditions

Terms MNT USD EUR CNY JPY
Interest rate /annual/ 8.00-10.0%* 1.50% 1.20% 1.20% 1.20%
Effective interest rate /annual/ 8.30-10.471% 1.51% 1.207% 1.207% 1.207%
Interest capitalization Monthly
Minimum deposit requirement 5,000 MNT 5 USD 5 EUR 50 CNY 500 JPY

*Incentive interest is granted depending on the balance for MNT deposits.

Categories
Demand deposit

Fees and charges

Other current and saving account fees

Categories
Demand deposit

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy and a copy of the agreement between the parties;
  • Documents required:
    • For Mongolian citizens: Citizen ID card;
    • For Foreign citizens: Passport and certificate of alien registration.
Categories
Convertible deposit

Benefits

  • Earn interest and profit from short-term investment (available for 6 months);
  • Protection against currency risk exposure (exchange-rate risk);
  • Allows you to make withdrawals from a deposit account every half-year for a calendar week.
Categories
Convertible deposit

Terms and conditions

Terms Short-term deposit Long-term deposit
Tenor 6 months 12 months
Currency MNT USD MNT USD
Annual interest rate 15.00% 5.00% 16.00% 6.00%
Effective rate 15.90%* 5.10% 17.00%* 6.10%
*Effective rate is possible to increase until 17.50% with the approval of the CEO.
Interest rate upon early termination of contract /annual/ 2.4%-4.8% 1.20% 2.4%-4.80% 1.20%
Minimum deposit 200,000,000 MNT or equivalent USD 500,000,000 MNT or equivalent USD
Interest payments Quarterly
Withdrawal condition Quarterly
Deposit condition Possible
Conversion between currencies Any time during the contract, at principal amount only.
Account opening fee Free
Savings book Free
Categories
Convertible deposit

Fees and charges

Other current and saving account fees

Categories
Convertible deposit

Eligibility or required documents

  • Customer application form /download here/;
  • Documents required:
    • For Mongolian citizens: Citizens ID card;
    • For Foreign citizens: Passport and certificate of alien registration.