Category: Loan services

Terms and conditions

Housing loan		MNT			USD
Loan interest	Down payment /as percentage of house price/	30.0%-39.9%	40.0%-49.9%	50.0% or more	Below 30.0%	30.0% or more
	Loan interest /month/	1.80%	1.70%	1.60%	1.35%	1.00%
	Loan interest /annual/	21.60%	20.40%	19.20%	16.20%	12.00%
Term of loan		Up to 180 months
Loan Disbursement Fee		1% of the loan amount or the maximum amount is 1,500,000 MNT or equivalent currency
Increased interest		The increased interest rate is equal to 20 percent of the basic interest rate
Benefits of Changes to the Original Loan Term		1% of the loan balance
Application Fee		10,000 MNT
Credit database reference fee		For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.3%-21.7%

Must have been employed by the organization for at least 1 year,
Must have self-financed at least 30 percent of the total cost;
Up to 60 percent of after-tax income must be sufficient to cover the total monthly interest payments;
Other banks and financial institutions have no overdue or poor quality loan balances.

Loan application form / sample bank application form /
Handwritten application of the loan seeker / loan amount, loan period, eligibility for housing loan is clearly stated/
1 passport-sized photo
Identity card
The apartment sale and purchase agreement, director’s agreement, approved budget
Organizational salary reference
Other required documents

The applicant for the principal loan must not be a participant in any subsidized housing loan or rent-to-own housing program implemented or currently being implemented by the Government;
The apartment to be purchased does not exceed 80 square meters, is used for public purposes or received by the state commission, and is used for living;
To be able to pay/pay the advance payment;
The main loan applicant must have been employed in the organization in the last 1 year and the co-loan applicant in the last 6 months, or the loan applicant must have worked in the business in the last 2 years and the co-loan applicant in the last 6 months;
The applicant and the co-loan applicant must have no overdue loans;
Monthly loan payments must not exceed 45% of income before tax;
Get insurance and pay insurance related fees;

Apartment Mortgage Loan		Conditions
		MNT				USD
Maximum loan amount		Up to 500,000,000 MNT or equivalent USD
		A credit analysis is conducted using a standard form that examines the borrower’s ability to pay and the financial difficulties the borrower may face, and the borrower’s total monthly loan and interest payments, debt-to-income ratio is not more than 60%
Down Payment		20%
		0% down payment required if an additional property is mortgaged
Loan interest	Advance payment /Proportion of the price of the apartment/	20.0%-29.9% of the value of the additional mortgage or the apartment	30.0%-39.9%	40.0%-49.9%	50.0% or more	If an additional apartment is mortgaged	20% or more
	Loan interest /month/	1.80%	1.70%	1.65%	1.60%	1.35%	1.00%
	Loan interest /annual/	21.6%	20.4%	19.8%	19.2%	16.2%	12.0%
Term of loan		Up to 360 months				Up to 120 months
Service fee		1% of the loan amount or the maximum amount is 1,500,000 MNT or equivalent currency
Increased interest		Equal to 20 percent of the loan interest
Fee of Changes to the Original Loan Term		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 /annual/: 19.3%-21.7%

Worked in the organization for at least 1 year, in the case of self-employed, at least 1 year;
Up to 60% of the after-tax income is sufficient to pay the total monthly loan payments;
No overdue or non-performing loans in other banks and financial institutions.

Credit line	MNT	USD	EUR	CNY	JPY
Maximum loan amount	The maximum loan amount will be determined depending on the size of the business, its capital, and financial capacity
Loan interest /month/	2.0%-1.60%	1.50%-1.10%	1.20%-0.85%	1.20%-0.85%	1.20%-0.85%
Loan interest /annual/	24.0%-19.20%	18.0%-13.20%	14.4%-10.20%	14.4%-10.20%	10.8%-10.20%
Commitment interest /annual/	2.80%-4.2%	2.0%-3.60%			1.50%-3.0%
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
Penalty interest	20% higher than the regular interest rate
Fee for changes to the original loan terms	0%
Application Fee	30,000 MNT
Credit database reference fee	For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT

Actual cost /annual/: 19.7%-24.5%