Author: Batbayar

List of Correspondent Banks

BANK	CURRENCY	ACCOUNT NUMBER	SWIFT CODE	LOCATION
OVERSEA-CHINESE BANKING CORPORATION /OCBC/	USD	503-558751-301	OCBCSGSG	SINGAPORE
	SGD	717-370571-001
	HKD	503-295065-201
DBS BANK	SGD	037-003681-0	DBSSSGSG	SINGAPORE
SUMITOMO MITSUI BANKING CORPORATION	JPY	5402	SMBCJPJT	TOKYO, JAPAN
KEB HANA BANK	USD	0963THR003000018	KOEXKRSE	SEOUL, KOREA
COMMERZBANK AG	EUR	400878504000EUR	COBADEFF	FRANKFURT, GERMANY
COMMERZBANK AG	GBP	400878504000GBP	COBADEFF	FRANKFURT, GERMANY
BAYERISCHE LANDESBANK	EUR	6370716	BYLADEMM	MUNICH, GERMANY
PT BANK NEGARA INDONESIA	USD	766022285	BNINIDJA	JAKARTA, INDONESIA
CHINA CONSTRUCTION BANK	CNY	15001658408052502829	PCBCCNBJNME	ERLIAN, CHINA
AGRICULTURAL BANK OF CHINA	CNY	05999901040000327	ABOCCNBJ050	HOHHOT, CHINA
BANK OF INNER MONGOLIA	USD	115914236010000466	HSSYCNBH010	ERLIAN, CHINA
BANK OF INNER MONGOLIA	CNY	115901236010000573	HSSYCNBH010	ERLIAN, CHINA
ZHEJIANG CHOUZHOU COMMERCIAL BANK	USD	15601142320800002742	CZCBCN2X	HANGZHOU, CHINA
	EUR	15601382320800001875
	CNY	15601012320890002740
AKBANK	TRY	TR300004600999888000000090	AKBKTRIS	ISTANBUL, TURKEY
INTERNATIONAL BANK FOR ECONOMIC COOPERATION	EUR	30111978300000001734	IBECRUMM	MOSCOW, RUSSIA
	USD	30111840700000001734
	RUB	30111810400000001734
	CNY	30111156100051001734

Housing loan		MNT			USD
Loan interest	Down Payment /Percentage of Housing Prices/	30.0%-39.9%	40.0%-49.9%	50.0% or more	Below 30.0%	30.0% or more
	Loan interest /month/	1.80%	1.70%	1.60%	1.35%	1.00%
	Loan interest /annual/	21.60%	20.40%	19.20%	16.20%	12.00%
Term of loan		Up to 180 months
Loan Benefits		1% of the loan amount or the maximum amount is 1,500,000 MNT or equivalent currency
Increased interest		The increased interest rate is equal to 20 percent of the basic interest rate
Benefits of Changes to the Original Loan Term		1% of the loan balance
Application Fee		10,000 MNT
Credit database reference fee		For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.3%-21.7%

Must have been employed by the organization for at least 1 year,
Must have self-financed at least 30 percent of the total cost;
Up to 60 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.

Loan application form / sample bank application form /
Handwritten application of the loan seeker / loan amount, loan period, eligibility for housing loan are clearly stated/
1% photo
Identity card
The apartment sale and purchase agreement, director’s agreement, approved budget
Organizational salary definition
Other required documents

The applicant for the principal loan must not be a participant in any subsidized housing loan or rent-to-own housing program implemented or currently being implemented by the Government;
The apartment to be purchased does not exceed 80 square meters, is used for public purposes or received by the state commission, and is used for living;
To be able to pay/pay the advance payment;
The main loan applicant must have been employed in the organization in the last 1 year and the co-loan applicant in the last 6 months, or the loan applicant must have worked in the business in the last 2 years and the co-loan applicant in the last 6 months;
The applicant and the co-loan applicant must have no overdue loans;
Monthly loan payments must not exceed 45% of income before tax;
Get insurance and pay insurance related fees;

Apartment Mortgage Loan		Conditions
		MNT				USD
Maximum loan amount		Up to 500,000,000 MNT or equivalent USD
		A credit analysis is conducted using a standard form that examines the borrower’s ability to pay and the financial difficulties the borrower may face, and the borrower’s total monthly loan and interest payments, debt-to-income ratio is not more than 60%
Down Payment		20%
		0% loan advance payment in case of additional mortgage
Loan interest	Advance payment /Proportion of the price of the apartment/	20.0%-29.9% of the value of the additional mortgage or the apartment	30.0%-39.9%	40.0%-49.9%	50.0% or more	The apartment was additionally mortgaged	20% or more
	Loan interest /month/	1.80%	1.70%	1.65%	1.60%	1.35%	1.00%
	Loan interest /annual/	21.6%	20.4%	19.8%	19.2%	16.2%	12.0%
Term of loan		Up to 360 months				Up to 120 months
Service fee		1% of the loan amount or the maximum amount is 1,500,000 MNT or equivalent currency
Increased interest		Equal to 20 percent of the loan interest
Fee of Changes to the Original Loan Term		Up to 1% of the loan balance / Maximum amount 1,000,000 MNT
Application Fee		10,000 MNT
Credit database reference fee		For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.3%-21.7%

Worked in the organization for at least 1 year, in the case of self-employed, at least 1 year;
Up to 60% of the after-tax income is sufficient to pay the total monthly loan payments;
No overdue or non-performing loans in other banks and financial institutions.

Credit line	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%-1.60%	1.50%-1.10%	1.20%-0.85%	1.20%-0.85%	1.20%-0.85%
Loan interest /annual/	24.0%-19.20%	18.0%-13.20%	14.4%-10.20%	14.4%-10.20%	10.8%-10.20%
Commitment interest /annual/	2.80%-4.2%	2.0%-3.60%			1.50%-3.0%
Term of loan	Up to 60 months	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%
Application Fee	30,000 MNT
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.7%-24.5%