If you wish to make withdrawal/deposit any time you want, we recommend you XacBank's demand deposit product.
Advantages:
- No limits in deposit/withdrawal transactions;
- Interest is calculated in compound basis monthly;
- Interest rate increase as the balance in your savings deposit goes up;
- You can manage your bank account, check account balance and make transactions using internet and mobile bank services without coming to a bank office upon registering for E-banking service.
Terms and Conditions:
| CURRENCY | MINIMUM BALANCE REQUIREMENT | INTEREST RATES /ANNUAL/ | ||
|---|---|---|---|---|
| ACCOUNT BALANCE | Nominal | Effective* | ||
| MNT | 10,000 | up to 50 million MNT | 3.60% | 3.66% |
| above 50 million MNT | 4.80% | 4.91% | ||
| USD | 10 | 1.00% | 1.00% | |
| EURO | 10 | 1.00% | 1.00% | |
| CNY | 50 | 0.80% | 0.80% | |
| JPY | 1,000,000 | 1.00% | 1.00% | |
| Fees on closing accounts | 3,000 MNT | |||
* Effective interest rate is same as Annual percentage yield which means a normalized representation of an interest rate, based on a compounding period of one year
Transaction fees and commissions
| services | Fee | |||||
|---|---|---|---|---|---|---|
| Mnt | USD | eur | cny | jpy | ||
| Income transaction | Non-cash income | No commission | ||||
| Cash income | No commission | 0.20% | ||||
| Non-cash withdrawal | Transaction between XacBank accounts | Internet banking transaction fee - No fee | ||||
| Transaction fee at the branches - 100₮ | ||||||
| Transaction between banks | 200₮* | 3 | 0.5 | 1,000₮ | - | |
| Cash withdrawal** | Cash | 200₮ | 0-10,000 USD түүнтэй тэнцэх - 5,000 төгрөг 10,000-100,000 USD түүнтэй тэнцэх - 10,000 төгрөг 100,000 USD-с дээш түүнтэй тэнцэх - 20,000 төгрөг | |||
| Non-cash1 | 200₮ | 0.50% | 0.50% | 1.00% | 0.50% | |
| Cash income transaction between banks | 2,000₮ | |||||
| Correcting the transaction as customer’s request | 500₮ | |||||
*300 MNT for interbank non-cash transactions over 5 million MNT
**Withdrawal in the currency or in MNT /as exchange rate of the day/ for the local branches. Reserve a cash withdrawal within one business day if the withdrawal amount is $100,000 or above.
1Except loan disbursement transaction.
account fees and commissions
| Fees and commissions | currencies | ||||
|---|---|---|---|---|---|
| MNT | Usd | eur | cny | jpy | |
| Opening an account | No fee | ||||
| Minimum balance requirement | 10,000 | 10 | 10 | 50 | 1,000,000 |
| Book keeping service fee (monthly) | 100 | 0.1 | 0.1 | 0.5 | 10 |
| Dormant account fee* (monthly) | 200 | 0.2 | 0.2 | 1 | 20 |
*The fee will be deducted when the account is dormant.
REQUIRED DOCUMENTS:
- If Mongolian citizen - ID card
- If foreign citizen:
- Passport – with customer’s photo, name/surname, age, and date of birth;
- Certificate of alien registration.
Suggested
The easiest way to create savings.
