|
Terms |
Terms of Contributions and Fees | ||||
| 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: | |||||
|
The Receiver side |
0.1% | 0.1% | |||
| Up to MNT 100,000 |
Currency equivalent to MNT 100,000 |
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|
Payment side |
0.1% | 0.1% | |||
| Up to MNT 100,000 |
Currency equivalent to MNT 100,000 |
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|
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 |
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|
Monthly service fee |
No fee | |||||||||
| Account opening fee |
No fee |
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|
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 |
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|
* is the maximum rate of the interest rate on the product |
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| Car loans | New cars | Used cars |
| Loan amount
|
Up to 300 million MNT | Up to 100 million MNT |
| The monthly loan payment is no more than 55% of the borrower’s debt-to-income ratio. If the borrower has loans to other banks, NBCs, industrial units, or individuals, the monthly payments made on that loan are included in the debt-to-income ratio. | ||
| Terms | Up to 30 months | |
| Loan interest /month/ | 1.6% – 2.0% | |
| Loan interest /annaul/ | 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 | Cars to buy | |
| Advance payment | up to 10% | up to 30% |
| Fees from suppliers | 1% or regulated by 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%