- At least 12 months of continuous business operation;
- Good credit history;
- Must have collateral that meets the bank’s requirements
- Other requirements set by the bank
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Author: Batbayar
Categories
Eligibility or required documents
- Loan application form (bank template), 1 passport-sized photo
- Identity card
- Description of the place of residence
- Account statements
- Operating license and lease agreement
- A document confirming the purpose of the loan
- Other required documents
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Terms and conditions
| Investment loan | MNT | USD | EUR | CNY | JPY |
| Maximum loan amount | The maximum loan amount will be determined depending on the size of the business, its assets, and financial capacity. At least 30% of the total investment amount shall be financed by the borrower with own funds | ||||
| Loan interest /month/ | 2.0%-1.6% | 1.5%-1.1% | 1.2%-0.85% | 1.2%-0.85% | 1.2%-0.85% |
| Loan interest /annual/ | 24.0%-19.2% | 18.0%-13.2% | 14.4%-10.2% | 14.4%-10.2% | 14.4%-10.2% |
| 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 | ||||
| Fee for changes to the original loan terms | 0% | ||||
| Grace period for principal repayment | Up to 12 months | ||||
| Application fee | 30,000 MNT | ||||
| Credit database reference fee | For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT | ||||
Actual cost /annual/: 19.45%-24.3%
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Requirements
- The loan applicant must have provided up to 30% of the required total investment with his own funds;
- Experience in continuous business activity for the last 12 months, for a newly started business, continuous activity for the last 6 months;
- Obtaining a special license to operate from the relevant authority;
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Financial statements must be certified by the Tax Office;
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No poor quality loan balances;
- Have collateral that meets the Bank’s requirements;
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Eligibility or required documents
- Loan application letter;
- Loan application /from Bank/
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Presentation of business activities;
- A copy the registration certificate issued by the State Registration Authorities;
- Financial statements certified by audit and tax authorities /last 1-3 years/;
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Special licenses, business plans and other documents related to business activities
- Other Required documents
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Terms and conditions
| Working capital loan | MNT | USD | EUR | CNY | JPY |
| Maximum loan amount | The maximum loan amount will be determined depending on the business scope, assets, and financial capacity | ||||
| Loan interest /month/ |
2.0%-1.6% |
1.5%-1.1% | 1.2%-0.85% | 1.2%-0.85% |
1.2%-0.85% |
| Loan interest /annual/ |
24.0%-19.2% |
18.0%-13.2% | 14.4%-10.2% | 14.4%-10.2% |
14.4%-10.2% |
| Term of loan |
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 |
||||
| Fee for changes to the original loan terms |
0% |
||||
| Grace period for principal repayment |
Up to 12 months
|
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| Application Fee |
30,000 MNT |
||||
| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
||||
Actual cost /annual/: 19.6%-24.4%
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Requirements
- Last 12 months continuous business experience;
- Qualify for collateral
- Other requirements from the bank.
- Loan application /from bank/, 1 copy of photo
- Identity card
- Description of the place of residence
- Account statements
- Operating license and lease agreement
- Other required documents
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Benefits
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Get a loan as soon as possible if you have a financial need;
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Flexible conditions;
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Terms and conditions
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Salary loan |
Conditions |
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Maximum loan amount
|
Up to 30 million MNT |
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Loan interest /month/
|
1.5%-2.0% |
| Loan interest /annual/ |
18.0%-24.0% |
| Loan Term |
Up to 30 months |
| Loan Benefits |
1% of the loan amount
|
| Increased interest |
The increased interest rate is equal to 20% of the principal interest rate |
|
Fee for modification of the original loan conditions
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Up to 1% of the loan balance /Maximum amount 1,000,000 MNT/
|
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Application Fee
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10,000 MNT |
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Credit database reference fee
|
1,000 MNT |
Actual cost/annual/: 19.1%-24.9%