- 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;
- Can be used as collateral for savings-backed loans with a low interest rate.
Category: Corporate Banking
Terms and conditions
Terms |
Annual Interest rate |
|
Tenor |
MNT |
USD |
1 month |
10.50% |
2.20% |
3, 6, 9 months |
12.50% |
4.00% |
12 months |
13.2% |
4.00% |
Interest rate upon early termination of contract /annual/ |
2-4.8% |
1.20% |
Minimum deposit |
100,000,000 MNT and 500,000,000 MNT. |
100,000 USD and 500,000 USD. |
Interest payments |
At the end of the contract |
|
Interest on ‘Repo’ financing |
Annual interest rate + 4.00% |
No repo financing |
Other conditions |
No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account) |
Fees and charges
- Application form for legal entities /download here/;
- An official letter for opening a new bank account on company headed notepaper;
- An original copy and a copy of license from the Financial Regulatory Commission;
- Notarized copy of the Company’s ‘State Registration Certificate’;
- Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
- Notarized signature of applicant /download here/;
- Declaration of Beneficial Ownership /download here/;
- Copy of ID card of the authorized personnel to dispose with an account;
- Additional documents /if necessary/.
Benefits
- Earn bigger high-yields for short-term
- Protection against currency risk exposure (exchange-rate risk)
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 |
||||
Withdrawal condition |
At maturity date |
||||
Deposit condition |
Impossible |
||||
Account opening fee |
Free |
||||
Savings book |
Free |
Fees and charges
Eligibility or required documents
- Application form for legal entities /download here/;
- An official letter for opening a new bank account;
- An original copy and a copy of license from the Financial Regulatory Commission;
- Notarized copy of the Company’s ‘State Registration Certificate’;
- Notarized copy of the Company’s ‘Charter or Memorandum of Association (MOA);
- Notarized signature of applicant /download here/;
- Declaration of Beneficial Ownership /download here/;
- Copy of ID card of the authorized personnel to operate the account;
- Additional documents /if necessary/.
Benefits
- Earn interest and profit from short-term investment.
- Protection against currency risk exposure (exchange-rate risk)
- Allows you to make withdrawals from a deposit account every quarter for a calendar week.
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% |
5.0% |
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 |
Fees and charges
- Application form for legal entities /download here/;
- An official letter for opening a new bank account;
- Notarized copy of ‘State Registration Certificate’;
- Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
- Notarized signature of applicant /download here/;
- Declaration of Beneficial Ownership /download here/;
- Copy of ID card of the authorized personnel to operate the account;
- Additional documents /if necessary/.
Benefits
- No fees charged for ‘intra-bank’ (within TransBank account) transactions;
- Saves your precious time.
Шимтгэл, хураамж
Available service fees |
Fees and charges |
Admission fee /annually/ |
50,000 MNT |
Intra-bank transactions fee /transactions made between TransBank accounts/ |
No fee |
- A formal request or official letter provided by the customer is required to apply for this service