- Flexible and favorable conditions
Credit line
We offer our clients a long-term credit line product with favorable interest rates, allowing you to borrow the desired amount in alignment with your business operations.
Benefits
Terms and conditions
|
Credit line |
MNT | USD | EUR | CNY | JPY |
| Maximum loan amount |
The maximum loan amount will be determined depending on the size of the business, capital and financial capacity |
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|
Loan interest /month/ |
1.6%-2.0% | 1.1%-1.5% | 0.85%-1.2% | 0.85%-1.2% |
0.85%-1.2% |
| Loan interest /annual/ | 19.2%-24.0% | 13.2%-18.0% | 10.2%-14.4% | 10.2%-14.4% |
10.2%-14.4% |
|
Commitment interest /annual/
|
2.80%-4.2% | 2.0%-3.60% | 1.50%-3.0% | ||
| Term of loan | Up to 60 months |
Up to 36 months |
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|
Service fee |
1% of the loan amount or the maximum amount is 1,500,000 MNT | 0.5% of the loan amount or the maximum amount is 1,500 US dollars and the equivalent in EUR, CNY and JPY | |||
| Penalty interest |
20% of the base interest rate |
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|
Fee for making changes to the original loan terms |
0% |
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| Application Fee |
30,000 MNT |
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| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
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Actual cost /annual/: 19.7%-24.5%
Requirements
- Last 12 months continuous business experience;
- Good credit history;
- Qualify for collateral
- Other requirements set by the bank
Eligibility or required documents
- Loan application letter. /Required loan amount, interest rate, term, collateral/
- Loan application /Bank form/
- 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;
- Copy of the identity card of the person authorized to sign the loan agreement / founders, general director, executive director, etc.,
- Special licenses, business plans and other documents related to business activities
- Details of financial statement figures as at the end of the last year. It includes: List of accounts receivable, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost of products, balance sheet of the last 1 year,
- Certificate of real estate to be mortgaged, /if the mortgaged property is in the name of another organization, a copy of the company’s certificate and charter, decision or resolution allowing the mortgage/
- List of vehicles and equipment to be pledged, certificates
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Other necessary additional materials
