Author: Batbayar

Terms and conditions

Terms	Service Fees and Charges
Account currency	MNT	USD	EUR	CNY	JPY
For the contract of sale and purchase of an apartment:
Seller side	MNT 20,000	10 USD	10 EUR	70 CNY	1,000 JPY
Buyer side	MNT 20,000	10 USD	10 EUR	70 CNY	1,000 JPY
For other contracts:
Beneficiary	0.1%	0.1%
Beneficiary	Up to MNT 100,000	Currency equivalent to MNT 100,000
Payer	0.1%	0.1%
Payer	Up to MNT 100,000	Currency equivalent to MNT 100,000

Other fees

Other fees for current and savings accounts

Escrow account Home

Eligibility or required documents

Post author By Batbayar
Post date May 11, 2022
No Comments on Eligibility or required documents

Customer application form /download here/
Provide a copy of the contract signed by both parties, along with the original document.
For Mongolian citizens: ID card;
For Foreign citizens: Passport and Residence permit in Mongolia

Current account

Benefits

Post author By Batbayar
Post date May 11, 2022
No Comments on Benefits

Available in ten (10) major currencies, including MNT, USD, EUR, CNY, JPY, RUB, KRW, GBP, SPD, HKD;
Instantly carry out various types of cash and non-cash transactions;
Order domestic or international debit cards linked to your account;
Foreign exchange services;

Current account

Terms and conditions

Terms	MNT	USD	EUR	CNY	JPY	RUB	KRW	GBP	SGD	HKD
Annual interest rate	3.0%*	1.2%*	1.2%*	1.2%*	1.2%*	–	–	–	–	–
Conditions for payment of interest	Monthly
Monthly service fee	No fee
Account opening fee	No fee
Minimum balance requirement	1,000	1	1	5	200	50	1,000	1	1	3
Account closure fee	1,000	Foreign currency equivalent to 1,000 MNT
* is the maximum rate of the interest rate on the product

Current account

Other contributions

Other fees for current and savings accounts

Current account

Eligibility or required documents

Post author By Batbayar
Post date May 11, 2022
No Comments on Eligibility or required documents

Customer application form /download here/
For Mongolian citizens: Citizens ID card;
For Foreign citizens: Passport and Certificate of Alien Registration

Car loan

Benefits

Post author By Batbayar
Post date May 10, 2022
No Comments on Benefits

No additional collateral is required
It will be resolved quickly and in a short period of time.

Car loan

Terms and conditions

Car loans	New cars
Loan amount	The amount shall not exceed the total purchase price of the vehicle
Terms	Up to 96 months
Loan interest /month/	1.6% – 2.0%
Loan interest /annual/	19.2% – 24.0%
Service Fees	1% of the loan amount or the maximum amount is 1,500,000 MNT
Increased interest	The increased interest rate is equal to 20% of the principal interest rate
Collateral	Purchased vehicle
Down payment	10%-30%
Supplier’s Fee	1% (subject to the Cooperation Agreement)
Application Fee	10,000 MNT
Benefits of Changes to the Original Loan Term	Loan balance up to 1% /Maximum amount 1,000,000/
Other	It is required to purchase cars from the supplier organization with which the “Cooperation Agreement” has been concluded.
Credit database reference fee	Citizen – 1,000 MNT, Organization – 1,000 MNT

Actual cost /annual/: 19.6%-24.4%

Car loan

Requirements

Have been with the organization for at least 6 months or have been in stable business for at least 1 year;
Up to 55 percent of after-tax income must be sufficient to cover the total monthly interest payments;
Other banks and financial institutions have no overdue or poor quality loan balances;