Prepaid interest demand deposit gives you the opportunity to spend at any time and receive monthly interest.
Features
Higher interest rate.
Make withdrawal and deposit transactions anytime you want.
Receive monthly interest income into your other account type.
Monitor the deposit statement over the internet banking service.
Terms and conditions
CURRENCY
MNT
USD
Minimum balance
10,000
10
Interest (per annum)
Up to 2 million MNT
Nominal
6.30%
1.40%
Effective
6.49%
More than 2 million MNT
Nominal
6.90%
Effective
7.12%
Annual fee
3000
Equivalent to 3000 MNT
Fees and commissions
TYPE
SERVICE
CURRENCY
MNT
USD
Income transaction
Cash transaction
No fee
No fee (1-20 USD bill 1.5%)
Non-cash transaction
No fee
Withdrawal transaction
Withdrawal transaction
200
0.4%
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*USD bills that is outdated or in poor condition will not be accepted for processing.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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