- Promotes business growth
- Fast and efficient loan approval
- Low interest rates
Business purpose property purchase loan
A loan product provided for the purchase of real estate intended for business purposes, including offices, retail and service spaces, manufacturing and service buildings, warehouses, and land.
Benefits
Terms and conditions
| Conditions | MNT |
| Loan amount | The amount shall not exceed the total purchase price of the real estate. |
| Loan terms | up to 60 months |
| Loan interest /month/ | 1.6% – 2.0% |
| Loan interest /annual/ | 19.2% – 24.0% |
| Service fee | 1% of the loan amount or the maximum amount is 3,000,000 MNT |
| Increased interest | The increased interest rate is equal to 20% of the principal interest rate |
| Collateral | The purchased real estate |
| Advance payment | 20% If additional real estate is provided as collateral, the down payment may be reduced to as low as 0%. |
| Benefits of Changes to the Original Loan Term | Loan balance up to 1% /Maximum amount 1,000,000/ |
| Application Fee | 30,000 MNT |
Actual cost /annual/: 21.1%-25.3%
Requirements
- Last 12 months continuous business experience;
- Good credit history;
- Other requirements set by the bank;
Required documents
- Loan application letter;
- A copy of the certificate and charter must be certified by a notary;
- Certificate of collateral and related documents;
- Description of the place of residence;
- Other materials necessary by the Bank;
