Our CD (Certificate of deposit) is a very special product where a bank gives you a certificate for owning a deposit account, which you can later use it for selling, gifting, inheriting, or transferring it to someone else. We are offering CD accounts available in both MNT and USD currencies to be opened.
|
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) |
|