Golomt Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Golomt Bank, a Mongolian bank founded in 1995, suits savers who can lock money away and borrowers with steady income. The fixed deposit pays a headline rate of 12.1%, which sits above the 3% median of the savings products compared.
Key facts
- Best for
- A high fixed deposit rate for savers, with lending and a multi-currency Visa card under one roof.
- Currency conversion fee
- 1.5%↗
- Card type
- Debit↗
- Card network
- Visa↗
- Currencies
- 2↗
- Legal entity
- Golomt Bank↗
- Headquarters
- Mongolia↗
- Founded
- 1995↗
- Support channels
- Email, Phone, Help-centre↗
- Features
- Multi-currency, Travel
- Official website
- golomtbank.com
Loans
- APR
- 19.56% to 26.82%↗
- Loan amount
- MNT 5,000,000 to MNT 50,000,000↗
- Term
- 1 to 24 months↗
- Arrangement fee
- 1.00% of loan amount↗
- Credit check
- Hard↗
- Funding time
- Loan obtainable within one minute via mobile app (digital loan technology launched 2019)↗
- Rate type
- Fixed↗
- Lender type
- Direct lender↗
- Eligibility
- 18 or older, full legal capacity, stable income for the loan term, no overdue loans in the last 2 years, employee of the employer for at least 6 months (12 months for mining, transport and construction)↗
- Origination fee (%)
- 1%↗
- Loan types
- Personal, Secured, Car, Business↗
- Use cases
- Home-improvement↗
- Pricing model
- Fixed rate
Savings
Mortgages
- Initial rate
- 16.8% to 21.6%↗
- APRC
- 18.16% to 23.87%↗
- Fixed period
- 20 years↗
- Maximum loan to value
- 80%↗
- Product fee
- MNT 10,000↗
- Purpose
- Purchase↗
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- A headline rate of 12.1% on a fixed-rate deposit, above the 3% median of savings products compared.
- A debit card on the visa network that holds 2 currencies and is built for travel.
- A loan can be obtained in minutes through the mobile app, and help is available by email, phone and help centre.
Cons
- Withdrawals are barred during the term on this fixed account, and closing it early brings a penalty rate.
- The 1.5% conversion fee ranks 146 of 258 on this measure, against 0.1% at Wise and 0% at Starling.
- Borrowing adds an arrangement fee of 1.00% of loan amount and a mortgage product fee of MNT 10,000 on top of an APR of 19.56% to 26.82%.
Who it suits
- Savers in Mongolia who can leave money untouched for a term and want a high fixed rate.
- Borrowers with steady income and a clean record who apply through the mobile app.
- Customers who want a savings deposit, a multi-currency card and loans from one bank.
Who should look elsewhere
- Wise users who convert currency often, since Wise charges 0.1% against Golomt Bank's 1.5%.
- Starling customers, whose conversion fee is 0%.
- bunq users who prefer a conversion fee band of 0.5% to 3%.
Rates and card terms
Golomt Bank's term deposit pays a headline rate of 12.1% with a rate type of fixed and terms of 1 to 24. The rate is set for the whole placement, so the return does not move with the market. Borrowing from the same bank runs at an APR of 19.56% to 26.82%, which is high next to typical rates on the products compared.
How Golomt Bank compares
9.0 vs 9.4
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9.0 vs 8.0- 9.0 vs 8.0
Where Golomt Bank is available
- Available
- Mongolia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the term deposit pay, and is it fixed?+
The deposit pays a headline rate of 12.1% with a rate type of fixed and a model of fixed rate, so the return is set for the whole placement. Terms run 1 to 24, which lets a saver match the deposit to a date the money will not be needed.
Can I take money out before the term ends?+
Withdrawals are barred during the term on this fixed account, and closing it early brings a penalty rate instead. With terms of 1 to 24, pick a length that suits money you can leave untouched for the placement.
How much is needed to open the deposit?+
The minimum deposit is MNT 10,000. The account kind is fixed, so the balance is committed for the term rather than kept in easy access, and the headline rate of 12.1% is set for that period.
What does it cost to use the card abroad?+
The currency conversion fee is 1.5% on a debit card running on the visa network, with multi-currency and travel among its features. That is higher than 0.1% at Wise and 0% at Starling.
How do the costs add up overall?+
A 12.1% deposit rate is the strong side. The 1.5% conversion fee on the card and an 1.00% of loan amount arrangement fee on loans weigh against it, and retail returns across the products compared carry a median loss share of 70.15%.
What do loans cost and what is the arrangement fee?+
Loans carry an APR of 19.56% to 26.82% and an arrangement fee of 1.00% of loan amount of the loan amount. Golomt Bank is a direct lender and lists personal, secured, car and business borrowing, with funding handled in the mobile app.
How much can I borrow, and who can apply?+
Loan amounts run MNT 5,000,000 to MNT 50,000,000 and the credit check is hard. Applicants must be adults with full legal capacity and stable income for the loan term, with no overdue loans over a recent period and a waiting period with the employer.
Is there a mortgage, and on what terms?+
Mortgages run at an initial rate of 16.8% to 21.6% with an APRC of 18.16% to 23.87%, a fixed period of 20 and a maximum loan to value of 80%. A product fee of MNT 10,000 applies, and the stated purpose is purchase.
Sources
- golomtbank.com checked September 26, 2026
Backs: Headquarters, Legal entity, Support channels
“D.Sukhbaatar Square 5, Ulaanbaatar, Mongolia”
- golomtbank.com/about-bank checked September 26, 2026
Backs: Funding time
- golomtbank.com/en/about-bank checked September 26, 2026
Backs: Founded
“Golomt Bank was established on March 6, 1995 as a subsidiary company of Bodi International LLC”
- golomtbank.com/en/loans/8679 checked September 26, 2026
Backs: APRC, Fixed period, Initial rate, Maximum loan to value, Product fee, Purpose
“Golomt Bank mortgage loan - Effective percentage rate (yearly) 18.16%-23.87%”
- 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”
- golomtbank.com/retail/loans/6488 checked September 26, 2026
Backs: Loan amount, APR, Credit check, Eligibility, Lender type, Loan types, Arrangement fee, Origination fee (%), Use cases
- golomtbank.com/en/cards/6311 checked September 26, 2026
Backs: Card type, Currencies, Features, Currency conversion fee, Card network
“The Si is a Visa-branded international debit card”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Monthly fee, Free ATM withdrawals, Protection.
Golomt Bank
A high fixed deposit rate for savers, with lending and a multi-currency Visa card under one roof.