Product terms:

Demand deposit account interest rate /annually/
Without regarding amount MNT USD EUR CNY JPY
Nominal interest rate 0.00% 0.00% 0.00% 0.00% 0.00%
Effective interets rate 0.00% 0.00% 0.00% 0.00% 0.00%
Minimum balance for interest 100,000 MNT 40 USD 35 EUR 300 CNY 4,100 JPY
Minimum balance 5,000 MNT 5 USD 5 EUR 50 CNY 500 JPY

Non-cash transaction

Services MNT Currency
Transaction between TransBank accounts
All personal accounts 100 MNT Currency equivalent to 200 MNT
Transaction between other bank accounts
Non-cash transaction Transaction amount              /up to 3,000,000MNT/ 200 MNT Currency equivalent to 1,500 MNT
Transaction amount        /above 3,000,001 MNT/ 500 MNT
Cash transaction between other bank accounts 1,000 MNT Currency equivalent to 1,500 MNT

Cash transaction

  Currency Amount of Banknote Other currency
Income* USD Banknote 1, 2 and 5 2.00% No fee
CNY Banknote 1, 5, 10, and 20 2.00% No fee
RUB Banknote 10, 50 and 100 3.00% 1.50%
KRW 1.50%
*The customer will be charged a fee if customer make transaction using banknotes specified in the table when making currency exchange, loan interest and principal payments, making transactions and making income in customers foreign currency account.
Expenditure transaction* Currency Fee
MNT 200 MNT
USD 200 MNT + 0.2%
EUR 200 MNT + 0.3%
CNY 200 MNT + 0.4%
JPY 200 MNT + 0.3%
GBP 200 MNT + 0.3%
RUB 200 MNT + 1.5%
KRW 200 MNT + 1.5%
*Interest paid on foreign currency current and savings accounts of individuals and organizations, non-cash transferred income and fee for cash disbursement of foreign currency purchased to customers' accounts at non-cash exchange rates.

Other

Services MNT Currency
Open a bank account No fee
Service fee
Active current account No fee
Temporary inactive or suspended current account /monthly/ 2,000 MNT Currency equivalent to 2,000 MNT
Demand deposit /year-end/ 1,000 MNT Currency equivalent to 1,000 MNT
Dormant account /monthly/ 2,000 MNT Currency equivalent to 2,000 MNT
Cancel a bank account
Cancel a current account 1,000 MNT Currency equivalent to 1,000 MNT
Cancel a savings account 1,000 MNT Currency equivalent to 1,000 MNT

Documents required:

  • Mongolian citizen: National registration ID;
  • Foreign citizen: Passport and certificate of alien registration.