Children's saving Future Millionaire

Advantage:

• Competitive interest rate
• The interest is compounded monthly
• Every newborn baby will receive a gift from XacBank for 3000 MNT deposited into their account
• All account holders 5 years old and younger will receive a birthday gift from XacBank
• The account restricts withdrawals until the child turns 18 years old. In case of early termination, or withdrawal, interest for the last year will be deducted and calculated 2 percent lower than the stated interest rate. All interest earned prior to the year in which the early withdrawal is made will be paid in full
• Account holders will be eligible for a free XacMaster and VISA at the end of contract term
• Free online statements are provided monthly to our customers email accounts
• If an emergency need for the funds in your Term Account arises account holders will be eligible to take out a low interest, deposit backed loan equal to 80-90 percent of the savings account balance.
• If you are registered for our Nomadic banking service there is no need to come to the bank. You can perform all of your banking through the internet or directly by your cell phone:
  1. Enables anytime, anywhere banking services. Make deposit transactions and same-day transfers between AMAR accounts through your cell phone
  2. View your transactions
  3. Check, and print, your account balance
  4. Ability to receive your money through AMAR agent

No withdrawals or deposits are allowed during the account’s contract.

Term of savings account contract: The contract will mature on the date the account holder becomes 18 years of age

*Interest rate - Nominal interest rate

**APY - Annual Percentage Yield

*Compounded interest occurs when interest previously applied to the account itself earns additional interest. The interest rate is compounded monthly and paid into the account

*Simple rate is annual interest rate which accrued will be transferred at the end of contract term.

“Interest rate as of the 1st of January, 2011