- Earn interest and profit from short-term investment (available for 6 months);
- Protection against currency risk exposure (exchange-rate risk);
- Allows you to make withdrawals from a deposit account every half-year for a calendar week.
Categories
A tailored short-term and long-term deposit account service that allows you to convert two currencies without exposing your savings to exchange-rate risk. It allows you to convert your deposit account’s currency between Mongolian Tugriks and U.S dollars without reducing the interest rate. Conversion rates between the two currencies are based on the exchange rate specified on the contract.
Terms | Short-term deposit | Long-term deposit | ||
Tenor | 6 months | 12 months | ||
Currency |
MNT |
USD | MNT |
USD |
Annual interest rate |
15.00% |
4.50% | 16.00% |
5.50% |
Interest rate upon early termination of contract /annual/ |
2.4%-4.8% |
1.20% | 2.4%-4.8% |
1.20% |
Minimum deposit |
200,000,000 MNT or equivalent USD |
500,000,000 MNT or equivalent USD |
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Interest payments |
At maturity date |
At maturity date |
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Withdrawal condition |
At maturity date |
Half-Yearly /Up to 30% of the deposit balance/ |
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Deposit condition |
Impossible |
Impossible |
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Conversion between currencies |
Any time during the contract, at principal amount only. |
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Account opening fee |
Free |
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Savings book |
Free |