Golomt Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Golomt Bank suits businesses and savers in Mongolia who want a fixed-rate return without moving their everyday money. The fixed deposit pays 12.1% over terms of 1 to 24 from a MNT 10,000 minimum, while the current account costs MNT 500 to run and remittances reach 14 currencies.
Key facts
- Best for
- Mongolian businesses and savers wanting a fixed return on a deposit in tugrik.
- Monthly fee
- MNT 500↗
- Currency conversion fee
- 0.15% to 3.5%↗
- Currencies
- 14↗
- Local account details
- IBAN↗
- Transfer fee
- SWIFT transfer 5,000-40,000 MNT by currency and amount, remitter pays (OUR); e.g. USD up to 5,000 = 20,000 MNT; receiving to current and card accounts free of charge↗
- Legal entity
- Golomt Bank JSC↗
- Headquarters
- Mongolia↗
- Founded
- 1995↗
- Support channels
- Email, Phone↗
- Audience
- Business
- Pricing model
- Fixed rate
- Official website
- golomtbank.com
Savings
Money transfer
Facts checked September 26, 2026, 8 sources
Apps and profiles
Pros and cons
Pros
- The fixed deposit pays 12.1%, well above the 3.25% typical of the accounts it is compared with
- Terms run 1 to 24, so a saver can match the deposit to a known cash need
- The current account costs MNT 500, above the €0 seen across this ranking
- Remittances reach 14 currencies and arrive in 1-3 working days
Cons
- The MNT 10,000 minimum deposit puts this out of reach of anyone starting small
- Withdrawal is barred during the term, and closing early costs a penalty rate
- FX conversion runs 0.15% to 3.5%, above the 0.22% of the accounts beside it
Who it suits
- Businesses banking in Mongolia, which is who the bank serves
- Savers who can leave money untouched for a fixed term
- Anyone sending or receiving money in tugrik who needs an IBAN and quick bank payouts
Who should look elsewhere
- Anyone needing easy access to savings, since withdrawals are barred during the term
- Businesses that convert currency often, because fees of 0.15% to 3.5% are steep
- Savers starting small, because the MNT 10,000 minimum is high
Fees and currency costs
The everyday account is the running cost: fees of MNT 500 a month, above the €0 across this ranking. Currency work is the sharper charge, with fees of 0.15% to 3.5% on conversion, well past the 0.22% median here. On transfers, the SWIFT charge varies by currency and amount and the remitter pays it, while receiving into current and card accounts is free of charge.
How Golomt Bank compares
9.2 vs 8.7
9.2 vs 8.6
9.2 vs 8.0
9.2 vs 8.9
9.2 vs 9.1
9.2 vs 9.2
9.2 vs 8.7
9.2 vs 8.7
9.2 vs 8.7
9.2 vs 9.0A monthly fee of €0 and a wide currency reach suit frequent money movement more than a fixed-rate deposit.
9.2 vs 8.7
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.1
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.9- 9.2 vs 8.9
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 8.2
9.2 vs 8.1- 9.2 vs 8.1
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 9.1
Where Golomt Bank is available
- Available
- Mongolia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the current account cost to run?+
The current account carries a monthly fee of MNT 500, which sits above the €0 median across this ranking. The fixed deposit is a separate product with its own minimum, so the running cost applies to the account you use day to day.
How much does the fixed deposit pay?+
The fixed deposit pays a headline rate of 12.1%, a fixed rate rather than a variable one. That compares with a median of 3.25% across the accounts on this ranking, though returns on any deposit account are subject to local conditions.
Can I withdraw from the fixed deposit early?+
No. Withdrawals are not allowed during the term, and premature withdrawal or closing the account costs a penalty rate. The money is committed for 1 to 24, so only put in a sum you can leave untouched for that period.
What is the minimum deposit?+
The minimum deposit is MNT 10,000, which is a real barrier for anyone saving a smaller amount. The median minimum across this ranking is €0, so the entry point here sits well above a typical account.
What does it cost to send money abroad?+
Currency conversion costs fees of 0.15% to 3.5%, which is higher than the 0.22% median here. The SWIFT transfer charge varies by currency and amount, the remitter pays it, and receiving into current and card accounts is free of charge.
How long do transfers take and which currencies are covered?+
Remittances cover 14 currencies and typically arrive in 1-3 working days. Payouts go to bank accounts, and local account details include an IBAN, so a recipient in Mongolia can be paid directly to a local account.
Who is the bank built for?+
The bank serves business customers, which shapes the account range on offer. Its head office is in Mongolia and the legal entity is Golomt Bank JSC, so it is built for companies and savers operating in or sending money to the country.
How do I get help?+
Support runs on email and phone, so questions can go by email or by phone. There is no in-app or community channel listed, which matters if you prefer to work through written help on your own schedule.
Sources
- golomtbank.com/en checked September 26, 2026
Backs: Headquarters
“Head office of Golomt Bank, D.Sukhbaatar Square 5, P.O.Box 22, Ulaanbaatar 15160, Mongolia”
- golomtbank.com/en/about-bank checked September 26, 2026
Backs: Audience, Founded
“We operate with a well-balanced presence in all of three market segments: Retail, Corporate, and SME.”
- golomtbank.com/en/account/6301 checked September 26, 2026
Backs: Monthly fee
“Retail current account ... Account maintenance fee /a month/ 500 MNT /Equivalent/”
- golomtbank.com/en/download-logo checked September 26, 2026
Backs: Legal entity
“The official name and logo of Golomt Bank JSC are the property of the Company and must be used properly in compliance with applicable laws and regulations.”
- golomtbank.com/en/privacy-policy-2 checked September 26, 2026
Backs: Support channels
“Customers may submit requests to correct, delete, or restrict the processing of their personal information by sending an email to privacy@golomtbank.com ... Customer service: 1800 - 1646 (24/7)”
- golomtbank.com/en/remittance/12647 checked September 26, 2026
Backs: Currency conversion fee
“1. Cash ... Fee % ... JPY 0.15% ... AED 3.5% ... Other currencies Free of charge”
- golomtbank.com/en/remittance/9729 checked September 26, 2026
Backs: Currencies, Delivery time, Local account details, Payout methods, Transfer fee, Fee to send 1,000
“Through the international SWIFT networking system, Golomt bank is cooperating with a highly rated financial institution in the world and delivering a trustworthy and fast service on international...”
- golomtbank.com/en/savings/9553 checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Pricing model, Rate type, Term
“No withdrawals are allowed. ... fixed penalty rates are payable on pre-mature withdrawals or account closing”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
Related by the facts
Guides
Golomt Bank
Mongolian businesses and savers wanting a fixed return on a deposit in tugrik.