- Flexible and favorable conditions.
Credit line
Credit line
We offer you a long-term, favorable interest rate, credit line product that you can get as much as you want in connection with your business activities.
Benefits
Terms and conditions
|
Line Loan |
MNT | USD | EUR | CNY |
JPY |
|
Maximum loan amount |
The maximum loan amount depends on the size of the business, capital and financial capacity. |
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Loan interest rate / monthly/ |
2.00%-1.60% | 1.50%-1.10% | 1.20%-0.85% | 1.20%-0.85% |
1.20%-0.85% |
|
Loan interest rate / annual / |
24.00%-19.20% | 18.00%-13.20% | 14.40%-10.20% | 14.40%-10.20% |
14.40%-10.20% |
|
Loan interest rate / annual / |
2.8%-4.2% | 2.0%-3.6% |
1.5%-3.0% |
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Loan term |
60 months up |
to 36 months |
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Service fee |
1% of the loan amount or maximum amount of MNT 1,500,000 |
0.5% of the loan amount or maximum amount of USD 1,500 and its equivalent in EUR, CNY and JPY |
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Increased interest |
The accrued interest is equal to 20% of the principal |
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Initial loan change fee |
0% |
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The application fee |
30,000 MNT |
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Credit recording enquiry fee /during loan analysis procedure/ |
Individual – 1,000 MNT Entity – 1,000 MNT |
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* Effective percentage rate /annual/: MNT 19.69%-24.51%
Requirements
- Experience in continuous business for the last 12 months;
- Have a good credit history and good creditworthiness;
- Must meet the requirements of collateral (real estate and real property);
- Must meet other requirements set by the bank.
Required materials
- Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
- Loan application / by the form /
- Resolution of the Board of Directors (Shareholders’ Meeting) on obtaining a loan. /Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
- Copy of company certificate, copy of company charter /stamped by State Registration Office/
- Copy of ID card of the person authorized to sign the loan agreement (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
- Special licenses, business plan and other documents
- Information about the purpose of loan, contracts and agreements, projects, etc.
- Information about the market and competitors
- Tax authority reference
- Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
- Reference from State Registration Office /on behalf of enterprises and major shareholders/
- Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
- Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
- Account statement / As of the last 12 months /
- Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
- Mortgage reference / historical, detailed /
- Pledge certificate, contract and cadastral map
- List and certificate of pledged machinery and equipment
- Proof of tax payment in case of real estate purchase
- Loan agreement and loan account statement if you have loan balances with other banks and NBFIs.
- Other necessary additional materials
Required documents/ Individual/
- Loan application / bank form /, 1 copy of photo,
- A copy of the borrower’s and co-obligor’s ID card / loan specialist will be required to make a notarized copy of the document if the loan specialist has reviewed the original, signed and certified and kept in the loan personal file. A notarized copy is required, unless the original is considered /
- Proof of residence and reference from the General Police Office
- Pledged property documents, pledged real estate certificate, reference, land certificate, contract, cadastral map
- Income confirmation documents and bank account statements
- Permission to operate and lease agreement
- Proof of loan purpose
- Other required documents
- Proof of tax payment in case of real estate purchase
