Categories
Employer’s Incentive Savings

Advantages

  • The organization opens an account for the employee, earns regular income, and the employee has the right to dispose of it with the permission of the organization;
  • It is possible to determine the amount of income at the request of employees and organizations;
  • If the employee cancels the deposit before the end of the term, with the permission of the organization, the accrued interest can be paid in full, excluding the interest for late payment.
  • No account closing fees.
Categories
Employer’s Incentive Savings

Terms and conditions

Employer’s Incentive Savings Conditions
Account currency MNT, USD
Terms 12 months 24 months 36 months
Annual interest rate MNT Nominal 13.50% 14.00% 14.00%
Effective 14.37% 14.93% 14.93%
USD Nominal 4.00% 5.00% 5.50%
Effective 4.07% 5.12% 5.64%
Interest rate upon early termination of contract
A fixed monthly income for the employer 1% of basic salary – …%

/Decided within the framework of the organization’s policy./

A fixed monthly income for the employee 1% of basic salary – …%

/Decided within the framework of the organization’s policy./

The percentage of earnings returned to the employee from the savings contributed by the employer at the time of termination of the savings Decided within the framework of the organization’s policy.
Deposit condition Possible
Withdrawal condition End of the term
Interest capitalization Monthly