- Experience in continuous business over the past 12 months;
- Qualify for collateral (immovable and movable assets);
- Other requirements of the bank;
Categories
Author: Batorgil E
- Loan application letter;
- Loan application /from Bank/;
- A copy of the certificate and charter must be certified by a notary;
- Financial report certified by audit and tax office /last 1-3 years/;
- Collateral information, related documents;
- Other documents;
Categories
Benefits
- Promotes business growth
- Fast and efficient loan approval
- Low interest rates
| Conditions | MNT |
| Loan amount | The amount shall not exceed the total purchase price of the real estate. |
| Loan terms | up to 60 months |
| Loan interest /month/ | 1.6% – 2.0% |
| Loan interest /annual/ | 19.2% – 24.0% |
| Service fee | 1% of the loan amount or the maximum amount is 3,000,000 MNT |
| Increased interest | The increased interest rate is equal to 20% of the principal interest rate |
| Collateral | The purchased real estate |
| Advance payment | 20% If additional real estate is provided as collateral, the down payment may be reduced to as low as 0%. |
| Benefits of Changes to the Original Loan Term | Loan balance up to 1% /Maximum amount 1,000,000/ |
| Application Fee | 30,000 MNT |
Actual cost /annual/: 21.1%-25.3%
- Last 12 months continuous business experience;
- Good credit history;
- Other requirements set by the bank;
- Loan application letter;
- A copy of the certificate and charter must be certified by a notary;
- Certificate of collateral and related documents;
- Description of the place of residence;
- Other materials necessary by the Bank;
Categories
Terms and conditions
|
Conditions |
|
| Maximum loan amount |
Up to 2,000,000,000 MNT |
| Down Payment |
The down payment shall be 20% or more |
| Loan interest |
19.2% – 24.0% |
| Term of loan |
up to 120 months |
| Service fee |
1% of the loan amount or the maximum amount is 1,500,000 MNT |
| Increased interest |
Equal to 20% of the loan interest |
| Fee for changes to the original loan terms |
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: 21.1%-25.9%
Categories
Requirements
- Worked in the organization for at least 1 year, in the case of self-employed, at least 1 year;
- No overdue or non-performing loans in other banks and financial institutions.
- Loan application form /bank template/
- Identity card
- Household reference issued by the local administration
- Receipt of down payment
- Other required documents
Categories
Benefits
- Flexible loan terms and grace periods, with the option to disburse in three different currencies;
- Customers can modify their business model under the loan, allowing them to shift to a more resource-efficient, environmentally sustainable, and green business approach.