Author: Tsolmonbayar

Terms and conditions

CONDITIONS	CORPORATE PAYMENT T CARD
Currency	MNT
Annual fee	MNT 15,000
Validity	3 years
Sub-card annual fee	MNT 5,000
Reissuance fee
Urgent order fee
Daily POS purchase limit	MNT 25,000,000 or foreign currency equal to the amount
Daily ATM withdrawal limit	MNT 15,000,000 or foreign currency equal to the amount
Deposit fee at a TransBank branch	No fee
Deposit fee at an agent bank	MNT 100
Balance inquiry at a TransBank branch	No fee
Balance inquiry at an agent bank	MNT 100
Pin code change /ATM/	MNT 100
New pin code acquiring fee /Bank/	MNT 1,000
Acquiring, changing e-pin code fee	MNT 100
Cash withdrawal at TransBank branch	MNT- no fee;
Cash withdrawal at TransBank branch	MNT- withdrawing cash shall be converted at the bank’s exchange rate
Cash withdrawal at agent bank branch	Withdrawing 0 – 99,999 MNT fee 300 MNT, Withdrawing 100,000 – or above MNT Fee 0 MNT
Cash withdrawal other domestic bank branch	Withdrawing 0 – 99,999 MNT fee 500 MNT, Withdrawing 100,000 – or above MNT Fee 0 MNT

Corporate payment card

Required documents

ID card or foreign passport of the employee
Employer reference
Notarized signature and corporate stamp

Movable property and machinery

Terms and conditions

Movable property and machinery	MNT	USD	EUR	RMB	JPY
Term/monthly/	Up to 60 months
Loan amount	The maximum amount of financial lease is 20 billion MNT or equivalent currency
Advance payment	Depending on the level of risk, the percentage of advance payment will be set up to 50%. In case of double mortgage of immovable and movable property, the advance payment rate can be reduced and set flexibly.
Interest rate/monthly/	2.00%-1.60%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%
Interest rate / annually/	24.40%-19.20%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%
Service fee	1% of the loan amount /maximum MNT 1,500,000/ or equivalent currency
Application fee	30,000 MNT
Other terms	Purchased asset on credit must be covered by comprehensive insurance. The client is responsible for the insurance premium.
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate – 1,000 MNT

* Effective percentage rate /annual/: MNT 19.73%-24.55%

Movable property and machinery

Requirements

Purpose of the loan is to support services to customers and upgrade machinery
Running the business in the last 12 months and continuing it as a going concern
Good credit history and score and other evidence of ability to repay the loan
Collateral to satisfy the bank’s requirements
Other requirements from the bank on a case by case basis

Movable property and machinery

Required documents

Official request/amount, interest, term and collateral to be pledged should be mentioned/
Loan Application / Bank’s application /
Resolution of the Board of Directors on obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter / stamped by state registration office /
Copy of ID card of the person authorized to sign the loan agreement (e.g. founder, CEO, CFO, etc.), borrower’s application form (if legal entity)
Business licenses, plans and other documents
The purpose of the loan, contract, project, etc.
The market and competitor’s analysis
Tax reference
GCCA reference / in the name of the organization and shareholders /
Reference from GASR / on behalf of enterprises and major shareholders /
Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
Account statement / last 12 months /
Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
Collateral historical and detailed reference
Pledged land certificate, contract and cadastral map
List and certificate of pledged machinery and equipment
Proof of tax payment in case of real estate purchase
Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
Other required additional materials

Small and Medium Business loan-Repo

Terms and conditions

Terms	Product terms
Product	Small and medium business loans – Repo
Loan amount / securitization /	Up to 3,000,000,000 / Three billion MNT
Loan interest rate /annual/	10.50% / Repo trading interest rate + not more than 4 percentage points /
Loan interest rate /monthly/	Up to 2 years
Service fee	In case of a new loan, it shall not exceed 1 percent of the loan amount or MNT 1,500,000
Penalty interest rate	Penalty interest rate is equivalent to 20 percent of the base interest rate
Application fee	30,000 MNT
Grace period	At least 6 months
Other	Other requirements and conditions of the Bank of Mongolia
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate – 1,000 MNT
* -Product conditions will change from time to time according to the order and decision of the Bank of Mongolia.

Small and Medium Business loan-Repo

Requirements

To meet the criteria set by the Bank of Mongolia, which provides the source of repo financing;
In accordance with Articles 4 and 5 of the Law on Promotion of Small and Medium Enterprises and Services, citizens and business entities with up to 200 employees and annual sales of up to MNT 2.5 billion are eligible;
Non-mining exports, processing industries and services *, wholesale and retail sectors with 200 or more employees;

Click HERE to get acquainted with the criteria and requirements set by the Bank of Mongolia.

Click HERE to see more questions and answers.

Small and Medium Business loan-Repo

Required documents

Official loan application. /Indicates the amount, interest, term and collateral of the desired loan/

Loan application / by bank form /
Resolution of the Board of Directors (Shareholders’ Meeting) on obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter / stamped by state registration office /

Loan for NBFIs

Benefits

Flexible and favorable

Loan for NBFIs

Terms and conditions

Loan for NFBI	MNT	USD	EUR	RMB	JPY
Amount	The amount of bank financing shall not exceed 80% of the total working capital. The maximum loan amount depends on the size of the business, capital and financial capacity.
Interest rate / monthly/	2.00%-1.60%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%
Interest rate / annually/	24.00%-19.20%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%
Term	Up to 36 months
Service fee	1% of the loan amount /maximum MNT 1,500,000/ or equivalent currency	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

Loan for NBFIs

Required documents

Official request/amount, interest, term and collateral pledged should be stated/
Loan Application / Bank’s application /
Resolution of the Board of Directors on obtaining a loan. / decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter / stamped by state registration office /
Copy of ID card of the person authorized to sign the loan agreement (founders, CEO, CFO, etc.), borrower’s application form (if legal entity)
Business licenses, plans and other documents
The purpose of the loan, contract, project, etc.
The market and competitor’s analysis
Tax reference
GCCA reference / in the name of the organization and shareholders /
Reference from GASR / on behalf of enterprises and major shareholders /
Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year/
Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
Account statement / last 12 months /
Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
Collateral historical and detailed reference
Pledge land’s certificate, contract and cadastral map
List and certificate of pledged machinery and equipment
Proof of tax payment in case of real estate purchase
Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
Other required additional materials

Commercial mortgage

Terms and conditions

Property	MNT	USD	EUR	RMB	JPY
Term	Up to 120 months
Amount	Up to 75 percent of the total contract pricing or equivalent in foreign currency up to 20 percent of the maximum equity
Interest rate /monthly/	2.00%-1.60%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%	1.35%-1.00%
Interest rate /annually/	24.00%-19.20%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%	16.20%-12.00%
Downpayment	Minimum 25%
Grace period	Depending on the loan purpose
Other terms	Currency conversion is possible every 6 months or 1 year /USD/
Application fee	30,000 MNT
Service fee	0.5% of the loan amount /maximum MNT 1,500,000/ or equivalent currency
Insurance	Purchased asset on credit must covered by comprehensive insurance. The client is responsible for the insurance premium.
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate – 1,000 MNT

* Effective percentage rate /annual/: MNT 20.11%-24.95%

Commercial mortgage

Requirements

Running the business in the last 12 months and continuing it as a going concern
Good credit history and score and other evidence of ability to repay the loan
Collateral to satisfy the bank’s requirements
Other requirements from the bank on a case by case basis

Job support loan

Benefits

Borrower is enabled to maintain jobs, to obtain working capital necessary for the consistent operations of the business, and to have access in refinancing previous jobs supporting loan the borrower took from other bank.

Job support loan

Terms and conditions

Product terms	Job support loan
Loan amount /Securitization/	Up to MNT 500,000,000
Loan interest rate /annual/	3%
Loan term	Up to 36 months
Service fee	In case of new loan, it shall not exceed 1 percent of the loan amount /max. MNT 1,500,000/
Penalty interest rate	Penalty interest rate is equivalent to 20 percent of the base interest rate
Application fee	MNT 30,000
Other	Other requirements and conditions of the Bank of Mongolia
Credit recording enquiry fee /during loan analysis procedure/	Individual – MNT 1,000 Corporate – MNT 1,000