The Sakura Savings Account, designed for Japanese customers, is a secure deposit product with a high interest rate.
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Month: December 2024
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Terms and conditions
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Sakura Savings Account |
Terms and conditions |
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| Term |
MNT |
USD | EUR | JPY |
| 12 months | *Policy rate+0.5% | 3.5% | 3.0% |
3.0% |
|
24 months |
* Policy rate+1.0% | 4.0% | 3.5% | 3.5% |
| 36 months | * Policy rate+2.0% | 5.0% | 4.0% |
4.0% |
| Penalty interests payable on pre-mature withdrawals |
4.8% |
1.2% | 0.6% |
0.6% |
| Extention of term | Feasible | |||
| Minimum balance | N/A | |||
| Interest payment conditions | At the end of the term of the account | |||
| Making deposits | Feasible | |||
| Withdrawal | At the end of the term of the account to a predetermined account of the same owner | |||
| Acquiring saving collateralized loan and credit card | Unfeasible | |||
| Joint ownership | Unfeasible | |||
| * The interest rate on term deposits in MNT is determined by Mongolbank’s policy rate at the time the account is opened, increased by an additional rate corresponding to its term. | ||||
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Required documents
- Passport;
- Request form (click here to download);
- *Additional documents;
*Additional documents: The bank may request additional materials and clarifications related to “Know Your Customer” activities.
If the customer refuses to provide the required information, the bank is obliged to refuse to provide services in accordance with the Law on Anti-Money Laundering.
The customer must not have the purpose of money laundering or terrorist financing, be not involved in such activities, and not violate the Mongolian Law on Combating Money Laundering and the Financing of Terrorism.
The Bank will strictly keep customer information confidential in accordance with the Civil Code of Mongolia, the Law on Personal Privacy, and the Law on Organizational Confidentiality, except in exceptional circumstances specified by law.
- Please click here to view the introduction to TransBank.
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Terms and conditions
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Conditions |
MNT | USD | EUR | CNY | JPY |
| Terms |
Up to 120 months |
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Loan amount |
Up to 75% of the total payment of the contract or up to a maximum of 20% of the equity, or an 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% |
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Loan interest /annual/ |
24.0%-19.2% | 16.2%-12.0% | 16.2%-12.0% | 16.2%-12.0% | 16.2%-12.0% |
| Advance payment |
At least 25% |
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Period of exemption from principal payment |
The period of exemption from the basic basic payment will be determined flexibly depending on the nature of the business, assets, and financial capabilities. | ||||
| Additional conditions |
Currency conversion available every 6 months or 1 year /USD/ |
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Application fee |
30,000 MNT | ||||
| Service fee |
0.5% of the loan amount or a maximum of 1,500,000 MNT and equivalent currency |
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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 |
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Advantages
- Flexible terms tailored to the specifics of your business;
- Long-term financing;
- Based on the customer’s business area and needs.
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Green Project Loan
The purpose of this product is to finance our customers’ projects that are intended for their improvement of sustainable use of energy, water, and materials, better waste management, long-term sustainable operation and their green businesses projects.
- Longer repayment and grace period, available in 3 currencies;
- The product provides our clients with the opportunity to modify their basic business model, thus shift to a more resource-efficient, environmentally friendly and green business model.
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Green Project Loan |
MNT | USD |
EUR |
| Maximum amount of loan |
Depends on business scope and financial abilities. |
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| Interest rate /monthly/ |
2.0%- 1.6% |
1.5% – 1.1% |
1.5%-1.1% |
| Interest rate /annual/ |
24.0%-19.2% |
18.0%- 13.2% |
18.0%-13.2% |
| Loan period |
Up to 60 months |
Up to 36 months |
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| Service fee |
1% of loan amount (min. MNT 1,500,00) |
0.5% of loan amount (min. USD 1,500 or equivalent amount in EUR) |
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| Penalty rate |
20% of loan amount |
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| Fee for amending the initial term of the loan |
0% |
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| Grace period |
12-24 months |
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Terms and conditions
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High-class Mortgage Loan |
Conditions |
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Maximum loan amount |
2,000,000,000 / up to two billion MNT / |
| Down Payment |
20% or more |
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Loan interest /month/ |
1.60-1.80% |
| Term of loan |
Up to 120 months |
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Service fee |
1% of the loan amount (maximum 1,500,000 MNT) |
| Increased interest |
Equal to 20 percent of the basic interest rate |
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Benefits of Changes to the Original Loan Term |
Up to 1% of the loan balance (maximum 1,000,000 MNT) |
| Application Fee |
10,000 MNT |
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Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |