We are offering term deposit with flexible condition which enables customers to withdraw before term expires.
Feature
It is possible to make expenses during the term of the deposit agreement
In case of disbursement, a low interest rate is calculated on the amount of disbursement and a high interest rate is charged on the remaining amount.
Term and Conditions
Currency
MNT
USD
Minimum balance
50,000
50
Term
12 month
12 month
Interest rate
12.20%
2.40%*
Interest to be charged in case of withdraw**
3.6%
0.5%
Interest to be charged in case of early termination of the contract
3.6%
0.5%*
*In case of disbursement, the accrued interest rate is the interest rate accrued on the amount of money disbursed from the savings account, and the high interest rate (annual interest rate) is calculated on the balance.
Please note that this product is not subject to Deposit Collateral.
Fees and commissions
TYPE
SERVICE
CURRENCY
MNT
USD
CNY
EUR
Income transaction
Cash transaction
No fee
No fee (1-20 USD bill 1.5%)
No fee
Non-cash transaction
No fee
Withdrawal transaction
Withdrawal transaction
200
0.4%
0.5%
0.3%
Interbank transaction
200 MNT for up to 5,000,000 MNT transactions
In other currency equivalent to 0.5 USD
Interbank transaction
500 MNT for above 5,000,001 MNT transactions
Account statements
Statements
5,000 MNT
If the account was opened within the last 14 days or if the account co-owner was added
40,000 MNT
If additional information was added due to the customer request
Standard statement fee + 15,000 MNT
Account statement (Per sheet)
100 MNT
*USD bills that is outdated or in poor condition will not be accepted for processing.
Required documents
Mongolian citizen
Identification card or passport
Foreign citizen
Passport
Certificate of foreign citizen registration
FATCA form is required for citizen or taxpayer of US
As a foreign citizen without a residence permit in Mongolia, the bank will investigate each customer's request, and additional documents will be required such as a reference letter from the customers main bank, confirmation letter from co-operating organizations in Mongolia.
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