Frequently answer and questions
How to renew a savings account when it expires?
When the deposit term expires, it will be extended for the same period if there is automatic renewal. If there is no automatic renewal, the deposit balance will be transferred to the account you selected and the deposit account will be closed.
A closed account cannot be restored and you can make a new deposit by opening a new term deposit
Can I add a joint owner to my savings account and get a bank reference letter?
Yes, it is possible. If an account balance certificate is requested within 14 calendar days from the date a joint holder was added to the deposit account, a fee of MNT 50,000 applies.
However, if the deposit account has been jointly held for more than 14 days, the account balance certificate can be issued for a fee of MNT 10,000.
How do I remove a joint account holder?
To remove a joint account holder, both the primary account holder and the joint holder must present valid identification (national ID or passport) in person at any branch or settlement center.
How do I close savings account?
Customers may request account closure either via TDB Online services or in person at any branch by presenting a valid ID or passport.
USD, EUR, CNY, JPY:
Cash Withdrawals of Cash Deposits: No fee applies when withdrawing currency that was deposited in cash.
Cash Withdrawals of Non-Cash Deposits: A 0.5% fee (min USD 0.01) applies when withdrawing currency deposited electronically or non-cash. (Note: Interest payments credited by the bank to the account at maturity are considered non-cash transactions.
Is it possible to terminate my term deposit account before its maturity date?
Yes, it is possible. You can close your deposit account via TDB Online banking or by visiting any nearby branch. In this case, interest will be calculated and paid out at the early termination rate specified in your contract.