Category: Employer’s Incentive Savings

Our bank offers the new product “Employer’s Incentive Savings” with the most flexible and favorable conditions for the needs of the organization to create savings in order to encourage and activate its employees to work stably and settle down.

Employer’s Incentive Savings

Advantages

Post author By Tuguldur Bt
Post date May 25, 2023

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.

Employer’s Incentive Savings

Terms and conditions

Post author By Tuguldur Bt
Post date May 25, 2023

Employer’s Incentive Savings		Conditions
Account currency		MNT, USD
Terms		12 months	24 months	36 months
Annual interest rate	MNT	13.50%	14.00%	14.00%
		14.37%	14.93%	14.93%
	USD	4.00%	5.00%	5.50%
		4.07%	5.12%	5.64%
Effective rate	MNT	14.40%	14.90%	14.90%
	USD	4.07%	5.10%	5.60%
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