Author: Batbayar

Terms and conditions

Terms	MNT
Loan size	Up to MNT 70.0 million
Monthly interest rate	1.00%
Annual interest rate	12.00%
Loan period	180 months
Down payment	The loan applicant: Not less than 10% percent of the loan amount
Down payment	Funded by GIZ: Up to 30% of the loan amount or up to 18,000,000 MNT
Loan origination fees	Amounts to about 1% of disbursed loan or equivalent to MNT 1,500,000
Penalty interest rate	Equivalent to 20 percent of the base interest rate
Loan forbearance fee	Amounts to about 1% of total loan balance
Loan application fee	MNT 10,000
Credit recording enquiry fee /For each/	Individual – MNT 1,000

* Effective percentage rate /annual/: 12.19%

Mortgage loan for luxury apartments

Terms and conditions

Luxury apartment loan	Terms
Loan size	Up to MNT 2.0 billion
Down payment	Greater than or equal to 20%
Loan interest rate /monthly/	1.60%-1.80%
Loan period	Up to 120 months
Loan origination fees	Amounts to about 1% of disbursed loan or equivalent to MNT 1,500,000
Penalty interest rate	Equivalent to 20 percent of the base interest rate
Loan forbearance fee	Amounts to about 1% of total loan balance / The maximum amount is equivalent to MNT 1,500,000 /
Loan Application fee	MNT 10,000
Credit recording enquiry fee /For each/	Individual – MNT 1,000 Corporate – MNT 1,000

* Effective percentage rate /annual/: 19.52%-21.93%

Private housing and real estate's loan

Terms and conditions

Private house mortgage		MNT			USD
Interest rate	Down payment / Loan-to-value ratio of Private house /	30.0%-39.9%	40.0%-49.9%	Greater than or equal to 50.0%	Less than 30.0%	Greater than or equal to 30.0%
	Monthly rate	1.80%	1.70%	1.60%	1.35%	1.00%
	Annual rate	21.60%	20.40%	19.20%	16.20%	12.00%
Loan period		Up to 180 months
Loan origination fees		Amounts to about 1% of disbursed loan and MNT 1,500,000
Penalty interest		Equivalent to 20 percent of the base interest rate
Loan forbearance fee		Amounts to about 1% of total loan balance
Loan Application fee		MNT 10,000
Credit record enquiry fee /For each/		Individual – MNT 1,000
		Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.48%-21.90%

Private housing and real estate's loan

Requirements

The loan applicant shall have held steady employment at the current place of work for at least the previous 12 months or be running their own business for at least 1 year
Documentary evidence that 30% of construction budget is financed by the borrower;
The monthly repayment to income ratio shall not exceed 60% of post-tax income;
To have no overdue and non-performing loan history at other banks or NBFIs.

Private housing and real estate's loan

Eligibility or required documents

Post author By Batbayar
Post date May 16, 2022
No Comments on Eligibility or required documents

Loan application form /bank format/
Loan application letter /loan size, loan period, clear statement about purpose of loan /
A passport-sized photo 1%
Notarized copy of Citizen’s ID Card
Residential reference letter from Governor of resident area (names of family members, registration number).
Marriage registration reference

A purchase agreement, total remodeling construction budget

Employment verification letter / Shall indicate the job stability of the employee /
Notarized copy of Social Insurance /shall include the assigned position history/
Original and Copy of Employment contract;
Documents proving household and business income (e.g. bank account and other financial statements)
Documents proving business activities
Bank account statement / salary statement and other business account statement proving all business income transactions /
Original copy of collateral’s state registration certificate along with inquiry /If the collateral is an apartment then the state registration certificate, along with the land cadastral map/
Inquiry of General Authority for State Registration and Land Administration and Management of the purchasing house
If the loan applicant has the outstanding loans at other banks and NBFIs /Loan agreement, loan account statement/
Other documents may be required on a case by case basis

Mortgage Loan

Terms and conditions

Mortgage loans	Terms
Loan Size	Loan-to-value ratio shall not exceed 70% of the apartment to be purchased; / This percentage does not need to be taken into account when collateral is property/
Down payment	30% ≥
Interest rate /annual/	6.00%
Loan period	Up to 360 months
Loan origination fees	Amounts to about 1% of disbursed loan and MNT 1,500,000
Penalty interest fee	Equivalent to 20 percent of the base interest rate
Loan Application fee	MNT 10,000
Credit record enquiry fee /For each inquiry/	Individual – MNT 1,000 Corporate – MNT 1,000

* Effective percentage rate /annual/: 6.09%

Mortgage Loan

Eligibility Criteria

The main borrower/loan applicant has not previously been involved in a subsidized mortgage or rental housing program provided by the State;
The loan applicant must have business or salary income transactions at the Transport and Development Bank (TransBank) for at least within the past 6 months.

Mortgage loan

Terms and conditions

Mortgage loan		Terms
		MNT				USD
Maximum limit		Up to 500.000.000 MNN or equivalent of USD
		The loan analysis will be conducted using a standard form. The loan analysis will examine the borrower’s ability to repay the loan and assess the financial difficulties that the borrower may face. The total loan and interest payments of the borrower on a monthly basis shall not exceed 60% of debt-to-income.
Down payment		20%
		If additional property is pledged the down payment amount can be decreased down to 0%
Interest rate	Down payment /Percentage of housing value /	Additional pledged property or 20.0%-29.9% of the amount	30.0%-39.9%	40.0%-49.9%	50.0% or above	Additional property pledged	20% or above
	Interest rate/monthly/	1.80%	1.70%	1.65%	1.60%	1.35%	1.00%
	Interest rate/annually/	21.6%	20.4%	19.8%	19.2%	16.2%	12.0%
Terms		Up to 360 months				Up to 120 months
Service fee		1% of the loan amount /maximum MNT 1,500,000/ or equivalent currency
Penalty interest rate		Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate
Fee for changing the original loan terms		1% of the loan balance
Loan application fee		10,000 MNT
Credit recording enquiry fee /during loan analysis procedure/		Individual – 1,000 MNT Corporate – 1,000 MNT

* Effective percentage rate /annual/: MNT 20.40%-21.86%

Mortgage loan

Requirements

The borrower shall have been of steady employment at the current place of work for at least the previous 12 months or running their own business for at least 1 year
The total monthly loan repayment should be no more than 60% of the post-tax income
No overdue loans or non-performing loans at any commercial bank or financial institution

Mortgage loan

Eligibility or required documents

Post author By Batbayar
Post date May 16, 2022
No Comments on Eligibility or required documents

Loan application form /attached /
Handwritten application (terms and condition, a purpose of loan should be clearly addressed)
A passport-sized photo
Notarized copy of ID;
Proof of down payment (proof of payment of at least 30% of the apartment, or proof of ability to pay or the deposited account statement)
Statement of savings account that covers the down payment or related evidence
Salary income statement by the employer, should indicate / whether the employee is able to work permanently in the future/
Notarized copy of social insurance book/ should include a page nomination of current position/
Residential reference letter from Governor of resident area (names of family members, registration number/
Original and copy of employment contract
Documents proving household and business income
Documents proving business activities
Account statement / proof of income documents/
Original documents for the collateral (if it is the apartment, real estate certificates)
Detailed inquiries about the property from the Land Office and GASR
If you have a loan balance with other banks and NBFIs, loan agreement, loan account statement and loan and interest payment documents
Other required documents

Line of credit (LOC)

Terms and conditions

Credit line	MNT	USD	EUR	RMB	JPY
Maximum amount	The maximum loan amount depends on the size of the business, capital and financial capacity.
Interest rate/monthly/	2.00%-1.60%	1.50%-1.10%	1.20%-0.85%	1.20%-0.85%	1.20%-0.85%
Interest rate/annually/	24.00%-19.20%	18.00%-13.20%	14.40%-10.20%	14.40%-10.20%	14.40%-10.20%
Commitment fee /annually/	2.8%-4.2%	2.0%-3.6%			1.5%-3.0%
Term	Up to 60 months	Up to 36 months
Service fee	1% of the loan amount /maximum MNT 1,500,000/	0.5% of the loan amount /maximum USD 1,500 or amount equivalent in EUR, CNY, JPY
Penalty interest rate	Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate
Fee for changing the original loan terms	0%
Loan application fee	30,000 MNT
Credit recording enquiry fee /during loan analysis procedure/	Individual – MNT 1,000 Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Line of credit (LOC)

Requirements

Evidence of running the business in the last 12 months and continuing to pursue it as a going concern
Good credit history and score
Collateral to satisfy the bank’s requirements (e.g. property deeds, other fixed or moveable assets, etc.)
Other requirements from bank on a case by case basis

Line of credit (LOC)

Eligibility or required documents/Individual/

Post author By Batbayar
Post date May 16, 2022
No Comments on Eligibility or required documents/Individual/

Loan Application / Bank’s application / and 1 passport-sized photo
A copy of the notarized citizen identification card (applies also to a person who jointly receives the loan). The loan officer checks the original ID card and makes a copy. Otherwise, the loan officer requires a notarized copy.
Statement of residence and statement from the National Police Agency of Mongolia
Collateral documents, real estate certificate, reference, land certificate, contract, cadastral map
Proof of income source documents and account statements
Permits for operation and lease agreement
Proof of loan purpose
Proof of tax receipt in case of real estate purchase
Other required documents

Investment Loan

Terms and conditions

Investment loan	MNT	USD	EUR	RMB	JPY
Maximum amount	The borrower must finance at least 30% of the total investment. The maximum loan amount depends on the size of the business, capital and financial capacity.
Interest rate/monthly/	2.00%-1.60%	1.50%-1.10%	1.20%-0.85%	1.20%-0.85%	1.20%-0.85%
Interest rate/annually/	24.00%-19.20%	18.00%-13.20%	14.40%-10.20%	14.40%-10.20%	14.40%-10.20%
Term	Up to 60 months	Up to 36 months
Service fee	1% of the loan amount /maximum MNT 1,500,000/	0.5% of the loan amount /maximum USD 1,500 or amount equivalent to EUR, CNY, JPY
Penalty interest rate	Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate
Fee for changing the original loan terms	0%
Grace period	Up to 12 months
Loan application fee	30,000 MNT
Credit recording enquiry fee /during loan analysis procedure/	Individual – MNT 1,000 Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Investment Loan

Requirements

Evidence of running the business in the last 12 months and continuing to pursue it as a going concern
Collateral to satisfy the bank’s requirements (e.g. property deeds, other fixed or moveable assets, etc.)
Other requirements from the bank on a case by case basis