Categories
Prepaid interest deposit

Benefits

  • Receive interest monthly to your current account and earn passive income;
  • No restrictions are applied for deposit transactions;
  • The highest Interest rate offered on the market.
Categories
Prepaid interest deposit

Terms and conditions

   

Terms

MNT USD
Tenor

Annual Interest rates

3 – 6 months

11.30%

3.80%

7 – 12 months

12.50%

3.80%

Interest rate upon early termination of contract /annual/

2.4%-4.8%

1.20%

Minimum deposit

1,000,000 MNT

1,000 USD

Interest payments

Monthly

Account opening fee

Free

Savings book

Free

 

 

Categories
Prepaid interest deposit

Fees and charges

Other current and saving account fees

Categories
Prepaid interest 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.
Categories
“Golden coin” children's saving

Benefits

  • Enjoy the highest interest rate from our bank
  • Open your new savings account with the contract running until your child is 18, with the contract renewed every year to save you precious time
  • You can receive your child allowance directly into your children’s savings account
  • Earn interest annually and it can be credited to different accounts at your discretion
Categories
“Golden coin” children's saving

Terms and conditions

Terms

MNT USD EUR CNY

JPY

Annual Interest rates

14.00% 4.00% 3.60% 4.00%

3.30%

Interest rate upon early termination of contract /annual/

2.0%-4.8% 1.20% 0.60% 0.60%

0.60%

Minimum deposit

10,000 10 10 100

1,000

Interest payments

Per annum

Account opening fee

Free

Savings book

Free

Tenor

Contract expiry is 12 months and it can be renewed every year, up until your children is up to the age of 18.

Categories
“Golden coin” children's saving

Fees and charges

Other current and saving account fees

Categories
“Golden coin” children's saving

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy of your child’s birth certificate;
  • Documents required for parents or legal guardians of the child:
    • For Mongolian citizens: Citizens ID card;
    • For Foreign citizens: Passport and certificate of alien registration.
Categories
Home

List of correspondent banks:

BANK NAME CURRENCY ACCOUNT NUMBER SWIFT CODE LOCATION
AGRICULTURAL BANK OF CHINA CNY 6.00E+15 ABOCCNBJ050 HOHHOT, CHINA
ALFABANK RUB 3.01E+19 ALFARUMM MOSCOW, RUSSIA
USD 3.01E+19
GBP 3.01E+19
EUR 3.01E+19
BANK OF INNER MONGOLIA USD 1.16E+17 HSSYCNBH010 ERLIAN, CHINA
CNY 1.16E+17
CHINA CONSTRUCTION BANK CNY 1.50E+19 PCBCCNBJNME ERLIAN, CHINA
COMMERZBANK AG EUR 400878504000EUR COBADEFF FRANKFURT, GERMANY
GBP 400878504000GBP
INTERNATIONAL BANK FOR ECONOMIC COOPERATION EUR 3.01E+19 IBECRUMM MOSCOW, RUSSIA
USD 3.01E+19
RUB 3.01E+19
KEB HANA BANK USD 0963THR003000018 KOEXKRSE SEOUL, KOREA
OVERSEA-CHINESE BANKING CORPORATION /OCBC/ USD 503-558751-301 OCBCSGSG SINGAPORE
SGD 717-370571-001
HKD 503-295065-201
SUMITOMO MITSUI BANKING CORPORATION JPY 5402 SMBCJPJT TOKYO, JAPAN
TRANSKAPITALBANK USD 3.01E+19 TJSCRUMM MOSCOW, RUSSIA
RUB 3.01E+19
EUR 3.01E+19
CNY 3.01E+19
GBP 3.01E+19
KRW 3.01E+19
CHF 3.01E+19
Categories
Current Account

Fees and charges

Other fees and charges

Categories
Bank Guarantee

Domestic Bank Guarantee

Any procurement of goods and services financed by the state budget of Mongolia, typically require three types of bank payment guarantees. The Transport and Development Bank issues those guarantee services to the beneficiaries. These include:

  • Bid Bond
  • Performance Bond / Security 
  • Advance Payment Guarantee
Categories
Bank Guarantee

Payment Guarantee

In a business relationship, the parties are obliged to fulfill certain obligations under the contract, and in the event of failure to perform its obligations. The payment guarantee ensures the performance of the all parties in accordance with the terms and condition of the signed contract. 

Categories
Bank Guarantee

Advantages of the Bank Guarantee

Key advantages for the importer: 

  1. Reduce the risks of international trade across different countries
  2. Lower cost 
  3. Allows importer to avoid the advance payment or reduce the amount of advance payment (improving cash flow)
  4. To conduct the business in accordance with its plan while controlling all process including loading and transportation of goods. 
  5. Assure the importer’s credibility to the exporter side
  6. The exporter can get payment as soon as the goods are shipped while the importer can pay after receiving the goods. 
  7. Lower cost enables the importer to increase their trade turnover. 

Key advantages for exporter: 

  1. The exporter may receive payment after the goods are shipped, but the payment risk is very low because the importer’s payment risk is guaranteed 100% by Bank.
  2. The definite payment date allows the exporter to manage its cash flow effectively.
  3. If exporter fails to receive payment on  due date from importer, exporter has full right to provide demand to the Guarantor bank and payment shall be received within 5 banking days in according to the International Banking Practice. 
  4. You can transfer importer’s payment risk to your country’s any bank and able to receive payment from your account bank. 
Categories
Bank Guarantee

Bank Guarantee – Process Flow

/видео оруулна/

Categories
Bank Guarantee

Fees and Commission

BANK GUARANTEE 

Fees and commission

Issuance of Bank guarantee 

USD 100.0

Amendment on amount  /from increased amount/

USD 30.00

Amendment on terms and condition 

USD 30.00

Cancellation of guarantee 

USD 50.00

Advising of bank guarantee 

USD 20.00

Document check under the payment demand 

USD 50.00

Advising of amendment to terms and condition 

10.00 USD