Category: Floating interest deposit

The advantage of this deposit is that depending on the economic situation, the interest rate will change in accordance with the policy rate of the Bank of Mongolia.

Categories
Floating interest deposit

Advantages

  • Allows you to make withdrawals from a deposit account every quarter for a calendar week
  • Receive interest payments every quarter
  • If the policy interest rate announced by the Bank of Mongolia changes, the interest rate on your deposit will change accordingly
Categories
Floating interest deposit

Terms and conditions

Terms and conditions
Tenor MNT
Duration 12, 18, 24 months
Annual interest rate Up to 499,999,999 MNT

/Deposit balance/

 Policy interest rate + 3.0%
More than 500 million MNT

/Deposit balance/

 Policy interest rate + 3.5%
Minimum deposit 100,000,000 mnt
Interest rate upon early termination of contract/annual/ 2.4%-4.8%
Interest capitalization Quarterly
Withdrawal condition Quarterly
Deposit condition Possible
As a modification in the policy interest rate Deposit interest rates are subject to change
Categories
Floating interest deposit

Eligibility or required documents

  • 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/.