Month: May 2022

Categories
Salary Loan

Eligibility or required documents

  • Request form, a passport photo, ID card and written request (to be written by hand);
  • Original and copy of social insurance book;
  • Residency reference;
  • Reference from the organization /it should be mentioned that it is possible to work in a stable way in the future/;
  • Salary account statement;
  • Other documents to determine household income and expenditure;
  • Other documents if loan collateralized.
Categories
Convertible savings collateral loan

Benefits

  • Offers loans up to 80% of your convertible term deposit, which is the highest percent of potential loan amount;
  • No service fee.
Categories
Convertible savings collateral loan

Terms and conditions

Convertible deposit collateralized loan

In case loan is provided in foreign currency by collateralizing MNT convertible term deposit 

Loan amount

Up to 80% of total amount of convertible term deposit

Loan interest rate /annual/                          

Annual interest rate of term deposit + 6.0%

Term

Determined upon maturity date of term deposit

Service fee 

0%

Penalty interest rate

Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate

Fee for changing the original loan terms

0%

Loan application fee 

MNT 1,000
Categories
Deposit backed loan

Benefits

  • Additional materials are not required;
  • Can receive loan in no time;
  • Receive loan and make loan payment through online banking.
Categories
Deposit backed loan

Terms and conditions

Conditions Savings collateralized loan
Loan amount The total amount of loan and interest shall not exceed the balance of the term deposit
Loan interest rate /annual/ Loan at branches:
More than MNT 1 billion /term deposit amount/ Annual interest rate of term deposit +4%
MNT 500,000,001 – MNT 1 billion /term deposit amount/ Annual interest rate of term deposit +5%
Up to MNT 500,000,000 /term deposit amount/ Annual interest rate of term deposit +6%
Currency of loan MNT
Term Determined by maturity date of term deposit
Service fee 0%
Fee for changing the original loan terms 0%
Loan application fee MNT 0
Categories
Consumer loans with

Benefits

  • Satisfies the client’s financing need; 
  • Prompt solution in short period of time;
  • Offers the lowest interest rate on the market for a collateral loan service.
Categories
Consumer loans with

Terms and conditions

Collateral loan

 Apartment and retail real estate collateralized loan Private home with  land – collateralized loan

Transportation vehicle collateralized loan

Loan amount     

Up to MNT 40,000,000

 Up to MNT 20,000,000

Up to MNT 10,000,000

Loan amount is determined based on the fact that the monthly payment is no more than 60% of client’s total income after-tax.

Interest rate /monthly/

1.6%-2.0%

Interest rate /annual/

19.2%-24.0%

Loan term

 Up to 24 months

Up to 12 months

Service fee

1% of the loan amount

Penalty interest rate

Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate

Fee for changing the original loan terms

0.5% of the outstanding loan / maximum MNT 1,000,000/

Loan application fee

MNT 10,000

Credit recording enquiry fee /during loan analysis procedure/

Individual – MNT 1,000

Corporate – MNT 1,000

* Effective percentage rate /annual/: 20.26%-28.70%

Categories
Consumer loans with

Requirements

  • Collateral property must be registered on the borrower’s name;
  • Up to 60% of after-tax income of the borrower must be sufficient for the monthly payment;
  • The borrower must not have an outstanding or overdue loans at another bank or NBFI.
Categories
Consumer loans with

Eligibility or required documents

  • Loan Application / Bank’s application /, 1 passport-sized photo, ID card and its copy;
  • Statement of residence;
  • Proof of income source documents and account statements;
  • Original documents of collateral /enquiry of non-collateral from the General Authority of State Registration/;
  • Other materials required from Bank.
Categories
Certificate of Deposit (CD)

Benefits

  • Interest rates are higher than deposit accounts on the market;
  • CDs are often considered as good as securities;
  • Allows the owner of the CD to inherit, sell, gift or transfer;
  • Can be used as collateral for savings-backed loans with a low interest rate.
Categories
Certificate of Deposit (CD)

Terms and conditions

 

Terms

Annual Interest rate

Tenor

 MNT

USD
1 month

10.50%

2.20%
3, 6, 9 months

12.50%

4.00%
12 months

13.2%

4.00%
Interest rate upon early termination of contract /annual/

2-4.8%

1.20%
Minimum deposit

100,000,000 MNT and 500,000,000 MNT.

100,000 USD and 500,000 USD.
Interest payments

At the end of the contract
Interest on ‘Repo’ financing

Annual interest rate + 4.00%

No repo financing
Other conditions

No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account)

 

 

Categories
Certificate of Deposit (CD)

Fees and charges

Other fees and charges

Categories
Certificate of Deposit (CD)

Eligibility or required documents

  • Application form for legal entities /download here/;
  • An official letter for opening a new bank account on company headed notepaper;
  • An original copy and a copy of license from the Financial Regulatory Commission;
  • Notarized copy of the Company’s ‘State Registration Certificate’;
  • Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
  • Notarized signature of applicant /download here/;
  • Declaration of Beneficial Ownership /download here/;
  • Copy of ID card of the authorized personnel to dispose with an account;
  • Additional documents /if necessary/.
Categories
Hedge deposit

Benefits

  • Earn bigger high-yields for short-term
  • Protection against currency risk exposure (exchange-rate risk)
Categories
Hedge deposit

Terms and conditions

Terms

Hedge deposit

Hedge deposit

/High balance/
Currency

MNT
Tenor

6 months

 12 months 6 months 9 months

12 months
Annual interest rate

6.00%

 7.00%  7.50%  8.50%

 9.00%
Interest rate upon early termination of contract /annual/

2.00%

3.50%
Minimum deposit

USD equavant to 200,000,000 MNT

MNT equivalent to 1,000,000 USD
Interest rate payments

At maturity date

Withdrawal condition

At maturity date
Deposit condition

Impossible
Account opening fee

Free
Savings book

Free