- Satisfies the client’s financing need;
- Prompt solution in short period of time;
- Offers the lowest interest rate on the market for a collateral loan service.
Categories
Category: Consumer loans with
We offer you a loan service to secure the necessary financing by mortgaging your own real estate and movable property.
Categories
Terms and conditions
|
Collateral loan |
Apartment and retail real estate collateralized loan | Private home with land – collateralized loan |
Transportation vehicle collateralized loan |
|
Loan amount |
Up to MNT 40,000,000 |
Up to MNT 20,000,000 |
Up to MNT 10,000,000 |
|
Loan amount is determined based on the fact that the monthly payment is no more than 60% of client’s total income after-tax. |
|||
|
Interest rate /monthly/ |
1.6%-2.0% |
||
|
Interest rate /annual/ |
19.2%-24.0% |
||
|
Loan term |
Up to 24 months |
Up to 12 months |
|
|
Service fee |
1% of the loan amount |
||
|
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 |
0.5% of the outstanding loan / maximum MNT 1,000,000/ |
||
|
Loan application fee |
MNT 10,000 |
||
|
Credit recording enquiry fee /during loan analysis procedure/ |
Individual – MNT 1,000 Corporate – MNT 1,000 |
||
* Effective percentage rate /annual/: 20.26%-28.70%
Categories
Requirements
- Collateral property must be registered on the borrower’s name;
- Up to 60% of after-tax income of the borrower must be sufficient for the monthly payment;
- The borrower must not have an outstanding or overdue loans at another bank or NBFI.
- Loan Application / Bank’s application /, 1 passport-sized photo, ID card and its copy;
- Statement of residence;
- Proof of income source documents and account statements;
- Original documents of collateral /enquiry of non-collateral from the General Authority of State Registration/;
- Other materials required from Bank.