- Experience in continuous business for the last 12 months;
- Have a good credit history and good creditworthiness;
- Must meet the requirements of collateral (real estate and real property);
- Must meet other requirements set by the bank.
Categories
Author: Tsolmonbayar
Categories
Required materials
- Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
- Loan application / by the 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/
- Copy of ID card of the person authorized to sign the loan agreement (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
- Special licenses, business plan and other documents
- Information about the purpose of loan, contracts and agreements, projects, etc.
- Information about the market and competitors
- Tax authority reference
- Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
- Reference from State Registration Office /on behalf of enterprises and major shareholders/
- Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
- Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
- Account statement / As of the last 12 months /
- Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
- Mortgage reference / historical, detailed /
- Pledge 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 loan balances with other banks and NBFIs.
- Other necessary additional materials
Categories
Required documents/ Individual/
- Loan application / bank form /, 1 copy of photo,
- A copy of the borrower’s and co-obligor’s ID card / loan specialist will be required to make a notarized copy of the document if the loan specialist has reviewed the original, signed and certified and kept in the loan personal file. A notarized copy is required, unless the original is considered /
- Proof of residence and reference from the General Police Office
- Pledged property documents, pledged real estate certificate, reference, land certificate, contract, cadastral map
- Income confirmation documents and bank account statements
- Permission to operate and lease agreement
- Proof of loan purpose
- Other required documents
- Proof of tax payment in case of real estate purchase
Categories
Terms and conditions
| Gold collateral loan | Collateral loan with purity certified gold bullion | Collateral loan with purity uncertified gold bullion |
Collateral gold loan without sample purity testing |
|
|
Term |
Up to 12 months | Up to 6 months |
Up to 3 months |
|
|
Loan amount |
Net weight * Gold sample * Bank of Mongolia exchange rate for gold * (100% -Tax) * 90% or up to 20% of equity | Net weight * Gold sample * Bank of Mongolia exchange rate for gold * (100% -Tax) * 80% or up to 20% of equity |
Gross weight * Gold sample / minimum amount of sample taken before gold extraction / * (100% -Tax) * 60% or up to 20% of equity |
|
|
MNT loan interest |
Monthly |
1.8% -1.6% | 1.9% -1.6% |
2.0% -1.6% |
|
Annual |
21.6%-19.2% | 22.8%-19.2% |
24.0%-19.2% |
|
|
USD loan interest rate |
Monthly |
1.25%-1.0% | 1.35%-1.0% |
1.35%-1.0% |
|
Annual |
15.0%-12.0% | 16.2%-12.0% |
16.2%-12.0% |
|
|
EUR loan interest |
Monthly |
1.25%-1.0% | 1.35%-1.0% |
1.35%-1.0% |
|
Annual |
15.0%-12.0% | 16.2%-12.0% |
16.2%-12.0% |
|
|
CNY loan interest |
Monthly |
1.25%-1.0% | 1.35%-1.0% |
1.35%-1.0% |
|
Annual |
15.0%-12.0% | 16.2%-12.0% |
16.2%-12.0% |
|
|
JPY loan interest |
Monthly |
1.25%-1.0% | 1.35%-1.0% |
1.35%-1.0% |
|
Annual |
15.0%-12.0% | 16.2%-12.0% |
16.2%-12.0% |
|
|
Service fee |
No fee |
|||
|
Application fee |
30,000 MNT |
|||
|
Collateral |
Gold |
|||
|
Requirements for gold bullion as collateral |
Gold bullion with proven identification of gold and silver samples by accredited laboratory tests of precious metal samples | Gold bullion with a certificate of smelting of precious metals and no test results, ordered to be tested in an accredited laboratory for precious metal samples. |
Have a gold deposit reserve report prepared and a sample report indicating the gold content in the report. |
|
- Gold bullion with evidence of gold and silver samples based on the results of tests by an accredited laboratory for precious metal samples
- Prepare a gold deposit reserve report and have a sample report indicating the gold content in the report
- Gold bullion with a certificate of smelting of precious metals and no test results, ordered to be tested in an accredited laboratory for precious metal samples.
Categories
Required materials
- Official letter requesting a loan
- Permission to allow a company official to pledge gold
- A notarized copy of the company’s certificate and charter
- Borrower’s consent
- Application form of the entity, CEO and CFO
- Power of attorney issued to a bank employee to receive test results from an accredited precious metal sample laboratory / if the sample has not been identified /
Categories
Benefits
- Flexible and favorable term
Categories
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/ |
24.0%-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/ |
Олгосон зээлийн дүнгийн 0.5% буюу дээд хэмжээ нь 1,500 ам.доллар болон түүнтэй тэнцэх евро, юань, иен |
|||
|
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%
Categories
Requirements
- Experience in continuous business for the last 12 months;
- Have a good credit history and good creditworthiness;
- Must meet the requirements of collateral (real estate and real property);
- Must meet other requirements set by the bank.
Categories
Required documents
- Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
- Loan application / by the 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/
- Copy of ID card of the person authorized to sign the loan agreement (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
- Special licenses, business plan and other documents
- Information about the purpose of loan, contracts and agreements, projects, etc.
- Information about the market and competitors
- Tax authority reference
- Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
- Reference from State Registration Office /on behalf of enterprises and major shareholders/
- Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
- Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
- Account statement / As of the last 12 months /
- Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
- Mortgage reference / historical, detailed /
- Pledge 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 loan balances with other banks and NBFIs.
- Other necessary additional materials
Categories
Terms and conditions
|
Working capital loan |
MNT | USD | EUR | CNY |
JPY |
|
Loan size |
Flexible depending on business scope and financial solvency. |
||||
|
Monthly loan interest |
2.00%-1.60% | 1.50%-1.10% | 1.20%-0.85% | 1.20%-0.85% |
1.20%-0.85% |
|
Annual loan interest |
24.00%-19.20% | 18.00%-13.20% | 14.40%-10.20% | 14.40%-10.20% |
14.40%-10.20% |
|
Loan period |
36 months |
||||
|
Loan origination fees |
Amounts to about 1% of disbursed loan or equivalent to MNT 1,500,000 |
0.5% of the disbursed loan amount, or a maximum of USD 1500, or the equivalent amount in EUR, CNY, or JPY |
|||
|
Penalty interest for rate |
Equivalent to 20 percent of the base interest rate |
||||
|
Loan forbearance fee |
0% |
||||
|
Grace period |
12 months |
||||
|
Loan Application fee |
MNT 30,000 |
||||
|
Credit recording enquiry fee /during loan analysis procedure/ |
Individual – MNT 1,000 Corporate – MNT 1,000 |
||||
* Effective percentage rate /annual/: MNT 19.95%-24.77%
Categories
Requirements
- Experience in continuous business for the last 12 months;
- Must meet the requirements of collateral (real estate and real property);
- Other bank requirements.
Categories
Required documents
- Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
- Loan application / by the 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/
- Copy of ID card of the person authorized to sign the loan agreement (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
- Special licenses, business plan and other documents
- Information about the purpose of loan, contracts and agreements, projects, etc.
- Information about the market and competitors
- Tax authority reference
- Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
- Reference from State Registration Office /on behalf of enterprises and major shareholders/
- Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
- Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
- Account statement / As of the last 12 months /
- Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
- Mortgage reference / historical, detailed /
- Pledge 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 loan balances with other banks and NBFIs.
- Other necessary additional materials
Categories
Benefits
- The ability to add funds to your deposit account any time;
- Can be used as collateral for savings-backed loans with a low interest rate;
- Term deposits with 12 to 24 month maturities earn interest quarterly;
- Manage your bank deposit accounts using online banking services.
Categories
Terms and conditions
| Terms | MNT | USD | EUR | CNY | JPY |
| Tenors | Annual Interest rates | ||||
| 1 month | 10.50%* | 2.20% | 1.20% | 1.20% | 1.20% |
| 2 months | 10.50%* | 2.50% | 1.20% | 1.20% | 1.20% |
| 3-6 months | 11.00% | 4.00% | 3.60% | 4.50% | 3.30% |
| 7-9 months | 11.50% | 4.00% | 3.60% | 4.50% | 3.30% |
| 10-11 months | 12.00% | 4.00% | 3.60% | 4.50% | 3.30% |
| 12 months | 14.00% | 4.00% | 3.60% | 4.50% | 3.30% |
| 13-18 months | 14.00% | 5.00% | 3.60% | 4.50% | 3.30% |
| 19-24 months | 14.00% | 5.50% | – | – | – |
| Interest rate upon early termination of contract /annual/ | 2.4%-4.8% | 1.2% | 0.6% | 0.6% | 0.6% |
| Minimum deposit requirement | 10,000 MNT | 10 USD | 10 EUR | 100 CNY | 1,000 JPY |
| Interest capitalization | – Deposit accounts with 1 to 11 months maturity earns interest at the end of the contract;
– Term deposits with 12 to 24 month maturities earns interest quarterly. |
||||
| Withdrawals | – Allows you to make withdrawals from deposit account with 12 months maturity for once every 3 months for a calendar week.
– Allows you to make withdrawals from deposit account with 13 to 24 months maturity for once every 6 months for a calendar week. |
||||
| Other conditions | – For deposits with a term of 13-24 months, the interest rate for deposits kept for more than 1 year shall be re-determined on the first 7 days of January of each calendar year in accordance with the general terms and conditions of interest and fees of Bank services in force at that time.
– Up to 4.00% incentive interest may be granted depending on the balance for 3-24 months MNT deposits. – Up to 3.00% incentive interest may be granted depending on the balance for 1 month MNT deposits. |
||||
| Account opening fee | No fee | ||||
| Savings book | Free | ||||