- Earn bigger high-yields in the short-term
- Protection against currency risk exposure (exchange-rate risk)
Categories
Category: Hedge deposit
Designed to eliminate risks that come with owning a high-volume deposit or savings account in a foreign currency. Our bank offers you to open a deposit account that allows you to sell your US dollars to Mongolian Tugriks, where we buy it at a fixed rate based on the current price or at the rate when opening the savings account in our bank. In other words, convert your USD without worrying about exchange rate risk and get a high return on your deposit.
Categories
Terms and conditions
| Terms |
Hedge deposit |
Hedge deposit /High balance/ |
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| Currency |
MNT |
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| 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% |
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| Minimum deposit |
USD equavant to 200,000,000 MNT |
MNT equivalent to 1,000,000 USD |
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| 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.