- Perfect for those who do not want to lose time coming physically to the bank;
- The service is free;
- Easy for those who are saving;
- The timing and amount of the transaction can be adjusted as per customer request.
Author: Batbayar
This service does not charge any admission fee or transaction fee.
- Customer application form /download here/;
- Documents required:
- For Mongolian citizens: Citizen ID card;
- For Foreign citizens: Passport and certificate of alien registration.
Categories
Fees and charges
Categories
Other fees
| Services | MNT | USD | EUR | CNY | JPY | RUB | KRW | GBP | |
| Cash deposit | Smaller banknotes* | – | 2.0% | 2.0% | 2.0% | 8.0% | 0.3% | 1.5% | – |
| Other | – | – | – | – | 1.5% | – | |||
| Cash withdrawal | Current account and deposit accounts | 200 | 200 MNT + Additional charges mentioned below depending on currency. | ||||||
| 0.5% | 0.5% | 0.5% | 3.0% | 0.5% | 1.5% | 0.5% | |||
| Non-cash transactions | Intra-Bank (within same bank accounts) transactions: | 100 | Foreign currency equivalent to 200 MNT | ||||||
| Inter-Bank transactions: | |||||||||
| Up to 5,000,000 MNT | 200 | 1,500 MNT | |||||||
| Over 5,000,001 MNT | 500 | ||||||||
| Tranfer cash to other bank accounts | 1,000 | ||||||||
| Account opening fee | Free | ||||||||
| Account service fee | For active accounts /monthly/ | No fee | |||||||
| Temporary inactive or suspended account fee /monthly/ | 2,000 | Foreign currency equivalent to 2000 MNT | |||||||
| Demand deposit fee /annually/ | 1,000 | Foreign currency equivalent to 1000 MNT | |||||||
| Dormant account fee /monthly/ | 2,000 | Foreign currency equivalent to 2000 MNT | |||||||
| Account closure fee | 1,000 | Foreign currency equivalent to 1000 MNT | |||||||
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Notice
*- Smaller banknotes: USD 1, 2, 5, 10, 20, 50 banknotes; CNY 1, 5, 10, 20 banknotes; RUB 10, 50, 100 banknotes.
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Inter-bank transactions
- Inter-bank transactions are made in MNT, USD, EUR, CNY, JPY, RUB, GBP, HKD and SGD currencies.
- Fees charged for cash deposits into an account to make any non-cash transactions including foreign exchange, deposit, loan repayment, transfer etc.;
- Fees charged for cash withdrawals from an account unless cash deposits made into an account previously;
- Smaller banknote fees may apply for using the specific banknotes mentioned above;
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Бүтээгдэхүүний нөхцөл
|
Terms |
Annual Interest rate |
|
Tenor |
MNT |
|
Duration |
12 Months |
|
Annual Interest Rate |
13.20% |
|
Minimum deposit |
100,000,000 MNT |
|
Interest rate upon early termination of contract /annual/ |
4.80% |
|
Interest payments |
Quarterly |
|
Withdrawal Condition |
Quarterly |
|
Deposit Condition |
Possible |
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Benefits
- Earn bigger high-yields in the short-term
- Protection against currency risk exposure (exchange-rate risk)
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Terms and conditions
| Terms |
Hedge deposit |
Hedge deposit /High balance/ |
|||
| Currency |
MNT |
||||
| Tenor |
6 months |
12 months | 6 months | 9 months |
12 months |
| Annual interest rate |
6.00% |
7.00% | 7.50% | 8.50% |
9.00% |
| Interest rate upon early termination of contract /annual/ |
2.00% |
3.50% |
|||
| Minimum deposit |
USD equavant to 200,000,000 MNT |
MNT equivalent to 1,000,000 USD |
|||
| Interest rate payments |
At maturity date |
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|
Withdrawal condition |
At maturity date |
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| Deposit condition |
Impossible |
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| Account opening fee |
Free |
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| Savings book |
Free |
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Categories
Fees and charges
Categories
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
Benefits
- Interest rates are higher than deposit accounts on the market;
- CDs are often considered as good as securities;
- Allows the owner of the CD to inherit, sell, gift or transfer to another person;
- Can be used as collateral for savings-backed loans with a low interest rate.