CURRENT ACCOUNT - Escrow account

It is a special account based on an agreement between the buyer, seller and the bank
It will be secured from all risks related to purchasing real estate or valuable assets
This service provides an opportunity to implement the contract terms as stated in contract without any risks for both parties
Cash withdrawal will be in accordance with agreement by the parties
Openan escrow account MNT or other 15 foreign currencies.

Documents required:

Mongolian citizen	Foreign citizen
Request to open an account National registration ID Agreement between the parties	Request to open an account Foreign Passport

Minimum balance	Contract fee for the each party
Up to 500 million MNT or equivalent amount in other currencies	0.1% minimum 10,000 MNT maximum 100,000 MNT
More than 500 million MNT or equivalent amount in other currencies	Will be subject to an agreement
In case of using escrow account for transferring payment for loan and prepayment of loan, each party shall bear 20,000 MNT for the fee.

MONGOLIAN TUGRIK/ MNT

Interest on daily balance of current account (annual)	No interest
Cash withdrawal from current account	Free of charge
Cash deposit into current account	Free of charge
Maintenance fee for current account	Free of charge
Close a current account	Free of charge

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