- 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.
Month: May 2022
Benefits
- Offers loans up to 80% of your convertible term deposit, which is the highest percent of potential loan amount;
- No service fee.
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 |
Benefits
- Additional materials are not required;
- Can receive loan in no time;
- Receive loan and make loan payment through online banking.
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 |
* Effective percentage rate /annual/: Annual interest rate of term deposit +4%-6%
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.
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 |
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 | 1% 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 |
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.
- 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.
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.
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) |
Fees and charges
- 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/.
Benefits
- Earn bigger high-yields for short-term
- Protection against currency risk exposure (exchange-rate risk)
Terms and conditions
Terms |
Hedge deposit |
Hedge deposit /High balance/ |
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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% |
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Minimum deposit |
USD equavant to 200,000,000 MNT |
MNT equivalent to 1,000,000 USD |
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Interest rate payments |
At maturity date |
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Withdrawal condition |
At maturity date |
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Deposit condition |
Impossible |
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Account opening fee |
Free |
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Savings book |
Free |