Month: May 2022

Requirements

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;
Copy of identity card 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;

Current asset loan	MNT	USD	EUR	CNY	JPY
Maximum loan amount	The maximum loan amount will be determined depending business, capital and financial ability
Loan interest /month/	2.0%-1.6%	1.5%-1.1%	1.2%-0.85%	1.2%-0.85%	1.2%-0.85%
Loan interest /annual/	24.0%-19.2%	18.0%-13.2%	14.4%-10.2%	14.4%-10.2%	14.4%-10.2%
Term of loan	Up to 36 months
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
Increased interest	The increased interest rate is equal to 20% of the principal interest rate
Benefits of Changes to the Original Loan Term	0%
Period of exemption from principal	Up to 12 months
Application Fee	30,000 MNT
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

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;
Copy of identity card 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;

Competitive interest rates;
No restrictions for deposit transactions;
Use as collateral for deposit-backed loans with a low interest rate;
Earn your interest income quarterly for term deposits with 12 to 24 month maturities;
Access and manage your account by using our online banking service

Terms	MNT	USD	EUR	CNY	JPY
Duration	Annual interest rate
1 month	10.50%	2.20%	1.20%	1.20%	1.20%
2 months	10.50%	2.50%	1.20%	1.20%	1.20%
3 – 6 months	11.00%	4.00%	3.60%	4.00%	3.30%
7 – 9 months	11.50%	4.00%	3.60%	4.00%	3.30%
10 – 11 months	12.00%	4.00%	3.60%	4.00%	3.30%
12 months	14.00%	4.00%	3.60%	4.00%	3.30%
13 – 18 months	14.00%	5.00%	3.60%	4.00%	3.30%
19 – 24 months	14.00%	5.50%	–	–	–
Upon early termination	2.4%-4.8%	1.2%	0.6%	0.6%	0.6%
Minimum balance requirement	10,000 MNT	10 USD	10 EUR	100 CNY	1,000 JPY
Interest payment conditions	Savings with a maturity of 1 to 11 months; 12-24 month deposits will be given quarterly interest;
Withdrawal conditions	At the end of every 3 months for 12-month deposits; For savings with a maturity of 13 to 24 months, you will be entitled to spend 1 time in a 7-day calendar period at the end of every 6 months.

Customer application form; /download here/
Official letter; /Request to open an account/
A copy the registration certificate issued by the State Registration authorities;
Company charter;
Authorized signature, stamp /must be authorized by notary/; /download here/
Authorized person’s documents such as identification card;