Type search keyword

Institutional employee savings account service


MNT-interest rate 

12.7%


USD-INTEREST RATE

5.4%


duration

60 or more months

Institutional employee savings account service
  • Do you wish to provide your employees with long term job security?
  • Do you wish to assist your employees with their social issues?
  • Are you looking for some leverage to keep your key employees for the long term future of your organization?

Let XacBank's "Institutional Employee Savings Account" be the solution to the above questions that your organization may be facing.

As the employee devotes a certain portion of their salary towards their savings, the employer designates an equivalent amount into the institutional employee savings account. When the conditions agreed upon to in the contract are satisfied, the employee has the right to receive those savings.

Terms & Conditions

Terms
MNT
USD
Interest /Calculated per annul/
12.7%
5.4%
Duration
60 or more months

Advantages:

  • Double the savings earnings, from yourself and your company;
  • High interest rate earnings;
  • Today's savings will guarantee tomorrow's well-being.

How to apply?

  1. Introduce and familiarize employees with company policies;
  2. Agree upon the conditions between employer and employee, including:
    • Portion of savings, total amount, and frequency of savings deposits from the employee and employer;
    • Term of account;
    • Terms for making withdrawals from the savings account;
  3. The employer institution applies for the account at the bank;
  4. The institution and the bank sign a cooperation agreement;
  5. The bank, employer institution, and the employee sign the "savings account" contract.

For more information, please contact your nearest XacBank branch, our customer service hotline 1800-1888, or to reach the relationship manager responsible for your institution, please e-mail us at smerm@xacbank.mnor call us at 75771888 ext. 120.