- Earn bigger high-yields for short-term
- Protection against currency risk exposure (exchange-rate risk)
Categories
Category: Hedge deposit
Designed to eliminate risks that come with owning a high-volume deposit or savings account in a foreign currency. Our bank offers you the opportunity to open a deposit account that allows you to sell your US dollars for Mongolian Tugriks, where we buy it at a fixed rate based on the current market price or at the rate when opening the savings account in our bank. In other words, you can convert your USD without worrying about exchange rate risk and get a high return.
Categories
Terms and conditions
| Terms |
Hedge deposit |
Hedge deposit /High balance/ |
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| Currency |
MNT |
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| 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% |
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| Minimum deposit |
USD equavant to 200,000,000 MNT |
MNT equivalent to 1,000,000 USD |
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| Interest rate payments |
At maturity date |
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|
Withdrawal condition |
At maturity date |
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| Deposit condition |
Impossible |
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| Account opening fee |
Free |
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| Savings book |
Free |
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Categories
Fees and charges
Categories
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/.