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