Corporate Term Deposit

Advantages:

  • High interest revenue of savings;
  • Choice of term deposit periods;
  • Interest rate shall be according to the agreement period;
  • Low interest loan to guarantee by savings account.

Terms:

CORPORATE TERM DEPOSIT CURRENCY /annual/
Period MNT USD EUR CNY JPY
1 month 6.00% 2.20% 1.20% 1.20% 1.20%
3-12 months 10.90% 4.50% 3.30% 3.30% 3.30%
Penalty interest rate on pre-mature 4.80% 1.20% 0.60% 0.60% 0.60%
Minimum balance required 10,000 10 10 100 1,000
Interest income
  • At the end of the period for deposits with a term of 1 and 3-11 months;
  • Interest income is issued on 12-months deposits quarterly.
Expense At the end of every three months, a 12-month deposit entitles you to withdraw money for a calendar week.

Documents required:

  • Account opening application /download/;
  • Official letter;
  • Official notarized copy of State Registration Certificate;
  • Copy of charter of the company;
  • Notarized signature of an applicant /download/.

Advantages:

  • It allows to convert savings amount between MNT and USD account based on customer's request and protect against exchange rate risk.
  • You can manage your account, making income and withdrawal transactions by visiting a bank.
  • You can make a transaction between MNT and USD account specified in the deposit agreement without the interest rate penalty.

Product terms:

Convertible deposit Currency /annual/
Period MNT USD
3-12 сар 10.90% 3.70%
Penalty interest rate on pre-mature 4.80% 1.20%
Minimum balance requirement
100.000.000 MNT or currency equivalent to 100.000.000 MNT
Interest income Quarterly

Documents required:

  • Service application /download/;
  • Mongolian citizen: National registration ID;
  • Foreign citizen: Passport and certificate of alien registration.

Advantages:

You will have the flexibility to receive your interest income to your current account, card or demand deposit account whenever you want. You can manage your account, making income transactions using E-Banking services or by visiting a bank. Withdrawals can only be made in cash at the bank. During the saving period, you can withdraw once up to 30% of the account opening amount. You are not allowed to make any transactions after receiving the interest income. 

Product terms:

Prepaid Interest savings Currency /annual/
Period MNT
Interest rate
6-12 months 10.50%
Penalty interest rate on pre-mature 4.80%
Minimum balance of opening an account 1,000,000 MNT
Minimum balance requirement 70% of account balance
Interest income Once

Documents required:

  • Service application /download/;
  • Mongolian citizen: National registration ID;
  • Foreign citizen: Passport and certificate of alien registration.