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Huuhdiinhadgalamj

Children's term deposit

Invest in your child's future with our Children's Term Deposit. Enjoy high-interest benefits while securing their financial future with a smart investment.

Interest rate
Currency:

Children's term deposit/MNT

To receive serviceMonthly interestAnnual interest
Branch1.05%12.60%
TDB online1.06%12.70%

 

  • In case of cancellation before the end of the term, 2.4% annual interest will be charged.

Fees:

Open an account: 
No fee

Cash deposit: 
No fee 

Non cash deposit transaction: 
No fee

Saving book's fee: 
1,000₮

Minimum balance: 
10,000₮

Close an account: 
3,000₮

 

  • All children up to 6 years old will be provided free of “Maamuu”saving book’s fee. 

  • Saving book's fee free for children (Maamuu, Kids, Junior) packages.

  • There is no minimum balance for deposits in children's (Maamuu, Kids, Junior) packages.

Children's term deposit / USD

To receive serviceMonthly interestAnnual interest
Branch0.29%3.5%

 

  • In case of cancellation before the end of the term, 0.5% annual interest will be charged.

     

Fees:

Open an account: 
No fee

Cash deposit: 
No fee 

Non cash deposit transaction: 
No fee

Saving book's fee: 
1,000₮

Minimum balance: 
10 USD

Close an account: 
3,000 MNT (equivalent amount USD)

 

  • All children up to 6 years old will be provided free of “Maamuu”saving book’s fee. 

  • Saving book's fee free for children (Maamuu, Kids, Junior) packages.

  • There is no minimum balance for deposits in children's (Maamuu, Kids, Junior) packages.

  • Transactions in which the bank receives deposit interest on the account at the end of the term are non-cash transactions. A fee of 0.5% (min 0.01 USD) is charged when spending non-cash deposited currency in cash

Required document

Mongolian citizen                                                                                          

  • Passport or National ID Card /National ID Card reference is equivalent/  
  • Children’s birth certificate
  • Child over the age of 16 years, bring their national ID

Foreign citizen

  • Request to open a savings account
  • Passport (If necessary, Passport and Certificate of alien registration)
  • Children’s birth certificate
FAQ

If you have TDB Online, you can extend your current demand deposit into a term deposit by accessing the Administration section of the Account menu of your internet bank. However, if you do not have Internet banking, please extend your deposit term at any branch or settlement center of the Bank of Commerce and Development.

If you have an urgent need for money, you can cancel the deposit before the term, and in this case, the interest on the deposit will be calculated according to the contract. If you decide to cancel your deposit prematurely, contact any branch or settlement center of the Trade and Development Bank or call 1800-1977.

  1. If there is no change in the deposit interest rate announced by the bank during the deposit period, the interest will be calculated according to the initial agreement for the initial balance of the deposit and the income received during the period.
  2. However, in the case of a change in the deposit interest rate announced by the bank in the middle of the deposit period, the interest rate for the first balance will be calculated at the rate specified in the contract, and for the income received during the period, the interest rate will be calculated at the effective rate when the income is received. For example: Let's say that you opened a savings account with the amount of 5 million. 1 month later, the bank increased its deposit rate to 11.0% per annum. After the deposit interest rate increased, you added another 5 million.₮ to your account. In this case, the bank will pay interest at the rate of 10.5% per annum for the 5 million .
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