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Sakura Term Deposit

Terms and conditions

Sakura term deposit Term
Tenor MNT USD JPY
12 months 15.5% p.a 7.0% p.a 6.0% p.a
Penalty interest rate (annual) 4.8% 1.2% 0.6%
  Tenor of the term deposit can be extended only at the date of maturity
Minimum balance requirement No minimum balance requirement
Interest capitalization Interest on the deposit is paid to the customer’s current account on quarterly basis
Deposits It is possible to deposit into the term deposit account
Withdrawals On the date of maturity, to the customer’s own specified bank account
Issuance of deposit-backed loans and credit cards N/A
Co-account holder N/A
 

Features:

·         Customer can make deposit and withdraw transactions only between customer’s own bank accounts which is either a saving account or an account in a foreign bank under his/her title (Foreign remittance fees and charges related to the transaction shall be borne by the customer).

 

·         Interest on the deposit is paid quarterly to the customer’s current account and relevant taxes will be deducted.

 

·         At the end of term deposit contract, if no extension of the contract is requested, the deposit will be transferred to the demand deposit.

 

·         If the customer does not deposit the fund within 30 days after the bank account opening, the customer will be contacted to clarify whether the account should be closed.