Convertible deposit

Category: Convertible deposit

You can open a deposit account with either 6-month or 12-month maturity. Which has a feature to convert two currencies without exposing your savings to exchange-rate risk. It allows you to convert your deposit account’s currency between Mongolian Tugriks and U.S dollars without reducing the interest rate.

Terms	Short-term deposit		Long-term deposit
Tenor	6 months		12 months
Currency	MNT	USD	MNT	USD
Annual interest rate	15.00%	5.0%	16.00%	6.0%
Interest rate upon early termination of contract /annual/	2.4%-4.8%	1.20%	2.4%-4.8%	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.

Foreign currency convertible deposits

Currency	USD
Tenor	12 months
Annual interest rate	4.00%
Interest rate upon early termination of contract /annual/	1.20%
Minimum deposit	100,000,000 MNT or equivalent USD
Interest payments	At the end of the period
Deposit condition	Impossible
Withdrawal condition	At the end of the period
Convertible currency	MNT*

*Note: If the term of the deposit agreement and the conditions stipulated in the agreement are met, the bank can offer the customer the most favorable exchange rate at the end of the term, which is compatible with the current market conditions

Eligibility or required documents