Loans

Heavy machinery and equipment

Heavy machinery and equipment loan

Terms and conditions

Conditions	MNT	USD	EUR	CNY	JPY
Term of loan	Up to 60 months
Maximum loan amount	The maximum amount of financial lease is 20 billion MNT or equivalent currency
Loan interest /month/	2.0%-1.6%	1.35%-1.0%	1.35%-1.0%	1.35%-1.0%	1.35%-1.0%
Loan interest /annual/	24.0%-19.2%	16.2%-12.0%	16.2%-12.0%	16.2%-12.0%	16.2%-12.0%
Service fee	1% of the loan amount or a maximum of 3,000,000 MNT	0.5% of the loan amount or a maximum of 3,000,000 MNT equivalent currency
Application Fee	30,000 MNT
Other	Assets purchased on credit will be fully insured. Customer is responsible for insurance premiums.
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.7%-24.5%

Requirements

Heavy machinery, equipment, and other tangible assets classified as fixed assets that do not lose their essential characteristics during use are eligible for financial leasing loans.

Eligibility or required documents

Loan application letter;
Loan application /from Bank/;
Resolution of the Board of Directors/Shareholders’ Meeting/ on taking a loan. /The decision specifying the requested loan amount, interest rate, term, and collateral and appointing the person authorized to sign/;
A copy of the certificate and charter must be certified by a notary;
A copy of the ID of the person authorized to sign the loan agreement / founders, general director, executive director, etc., borrower’s resume;
Special licenses, business plans and other documents related to business activities;
References /in the name of Organization and major shareholders/;
Other Required documents;