Terms | Short-term deposit | Long-term deposit | ||
Tenor | 6 months | 12 months | ||
Currency | MNT | USD | MNT | USD |
Annual interest rate | 15.00% | 5.00% | 16.00% | 6.00% |
Effective rate | 15.90%* | 5.10% | 17.00%* | 6.10% |
*Effective rate is possible to increase until 17.50% with the approval of the CEO. | ||||
Interest rate upon early termination of contract /annual/ | 2.4%-4.8% | 1.20% | 2.4%-4.80% | 1.20% |
Minimum deposit | 200,000,000 MNT or equivalent USD | 500,000,000 MNT or equivalent USD | ||
Interest payments | Quarterly | |||
Withdrawal condition | Quarterly | |||
Deposit condition | Possible | |||
Conversion between currencies | Any time during the contract, at principal amount only. | |||
Account opening fee | Free | |||
Savings book | Free |
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