The Sakura Savings Account, designed for Japanese customers, is a secure deposit product with a high interest rate.
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Category: International Bank
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Terms and conditions
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Sakura Savings Account |
Terms and conditions |
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| Term |
MNT |
USD | EUR | JPY |
| 12 months | *Policy rate+0.5% | 3.5% | 3.0% |
3.0% |
|
24 months |
* Policy rate+1.0% | 4.0% | 3.5% | 3.5% |
| 36 months | * Policy rate+2.0% | 5.0% | 4.0% |
4.0% |
| Penalty interests payable on pre-mature withdrawals |
4.8% |
1.2% | 0.6% |
0.6% |
| Extention of term | Feasible | |||
| Minimum balance | N/A | |||
| Interest payment conditions | At the end of the term of the account | |||
| Making deposits | Feasible | |||
| Withdrawal | At the end of the term of the account to a predetermined account of the same owner | |||
| Acquiring saving collateralized loan and credit card | Unfeasible | |||
| Joint ownership | Unfeasible | |||
| * The interest rate on term deposits in MNT is determined by Mongolbank’s policy rate at the time the account is opened, increased by an additional rate corresponding to its term. | ||||
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Required documents
- Passport;
- Request form (click here to download);
- *Additional documents;
*Additional documents: The bank may request additional materials and clarifications related to “Know Your Customer” activities.
If the customer refuses to provide the required information, the bank is obliged to refuse to provide services in accordance with the Law on Anti-Money Laundering.
The customer must not have the purpose of money laundering or terrorist financing, be not involved in such activities, and not violate the Mongolian Law on Combating Money Laundering and the Financing of Terrorism.
The Bank will strictly keep customer information confidential in accordance with the Civil Code of Mongolia, the Law on Personal Privacy, and the Law on Organizational Confidentiality, except in exceptional circumstances specified by law.
| Name of representative office | Tokyo Representative Office |
| Location: | 〒100-0004 東京都千代田区大手町1-5-1 大手町ファーストスクエアイーストタワー 4F Office#6 |
| Telephone number: | 03-5219-1440 |
| Name of representative: | Hajime Uchida |
| E-mail address: | Tokyo.office@transbank.mn |
| Website: | www.transbank.jp |
- Please click here to view the introduction to TransBank.
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Advantages
- Flexible terms tailored to the specifics of your business;
- Long-term financing;
- Based on the customer’s business area and needs.
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Green Project Loan
The purpose of this product is to finance our customers’ projects that are intended for their improvement of sustainable use of energy, water, and materials, better waste management, long-term sustainable operation and their green businesses projects.
- Longer repayment and grace period, available in 3 currencies;
- The product provides our clients with the opportunity to modify their basic business model, thus shift to a more resource-efficient, environmentally friendly and green business model.
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Green Project Loan |
MNT | USD |
EUR |
| Maximum amount of loan |
Depends on business scope and financial abilities. |
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| Interest rate /monthly/ |
2.0%- 1.6% |
1.5% – 1.1% |
1.5%-1.1% |
| Interest rate /annual/ |
24.0%-19.2% |
18.0%- 13.2% |
18.0%-13.2% |
| Loan period |
Up to 60 months |
Up to 36 months |
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| Service fee |
1% of loan amount (min. MNT 1,500,00) |
0.5% of loan amount (min. USD 1,500 or equivalent amount in EUR) |
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| Penalty rate |
20% of loan amount |
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| Fee for amending the initial term of the loan |
0% |
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| Grace period |
12-24 months |
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Advantages
- Professional investment analyst and experienced team
- Long-term secure partnerships
- Up-to-date market news