4% Interest (Mongolian Banking)
01-16-2012, 11:31 AM
A source that shall remain unnamed tells me that Mongolian banks are paying very high interest rates right now. Depositors can yield upwards of 14% in funds denominated in one of the world's best performing currencies. Apparently, Mongolia is emerging as one of the most exciting frontier markets where fortunes are aggressively being made.
I haven't conducted my full-on due diligence but my quick fact-checking has concluded that this appears to be legit.
Check out the data from Golomt Bank--the largest privately owned bank in Mongolia.
http://www.golomtbank.com/en/249
You don't even need to be there to open an account and you can call a specialist for details at any time (see the number in the top right margin of the article). Seems like a win and it sure as hell beats the measly "less-than-one percent" savings rates US banks are currently offering.
I haven't conducted my full-on due diligence but my quick fact-checking has concluded that this appears to be legit.
Check out the data from Golomt Bank--the largest privately owned bank in Mongolia.
http://www.golomtbank.com/en/249
You don't even need to be there to open an account and you can call a specialist for details at any time (see the number in the top right margin of the article). Seems like a win and it sure as hell beats the measly "less-than-one percent" savings rates US banks are currently offering.