Gold deposit (XAU)

Primarily designed for those who are engaged in gold production and mining business. The product’s main objective is to offer a savings account service dedicated to our customer’s physical gold. It will ensure maximum protection in a safest environment. While covering the risk of holding our customer’s physical gold for a certain period, we offer an interest rate for the savings account we are offering.

Benefits

Covering from all types of theft, fraud and gold price change risks;
Interest rate will be based on international gold prices and expressed in Troy ounces (OZ);
Receive interest payments every quarter;

Terms and conditions

Gold deposit terms
Account currency	XAU- GOLD /OZ/
Tenor	1 – 3 months	6 months	9 months	12 months
Annual Interest rate	2.25%	2.5%	2.75%	3.0%
Interest rate upon early termination of contract /annual/	1.0%
Fees for withdrawing cash from savings	1.5%
Minimum deposit	–
Interest payments	Quarterly
Savings book	Free

Fees and charges

Other fees and charges

Eligibility or required documents

Application form for legal entities /download here/;
An official letter for opening a new bank account on company headed notepaper;
An original copy and a copy of license from the Mongolian Financial Regulatory Commission;
Notarized copy of the ‘State Registration Certificate’;
Notarized copy of the Company’s ‘Charter or Memorandum of Association (MOA);
Notarized signature of the applicant /download here/;
Declaration of Beneficial Ownership /download here/;
Copy of the ID card of the authorized personnel to operate the account;
Additional documents /if necessary/.

Download Customer Application Form

Eligibility or required documents