Categories
Working capital loan

Terms and conditions

Working capital loan

MNT USD EUR CNY

JPY

Amount

Maximum amount of the loan is determined based on range of operations, capital and financial capacity of the client’s business. 

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/

24.00%-19.20% 18.00%-13.20% 14.40%-10.20% 14.40%-10.20%

14.40%-10.20%

Term

Up to 36 months

Service fee 

1% of the loan amount /maximum MNT 1,500,000/

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 

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
Working capital loan

Requirements

  • Evidence of running the business in the last 12 months and continuing to pursue it as a going concern
  • Collateral to satisfy the bank’s requirements (e.g. property deeds, other fixed or moveable assets, etc.)
  • Other requirements from the bank on a case by case basis.
Categories
Working capital loan

Eligibility or required documents

  • Loan Application / Bank’s application form/ and 1 passport-sized photo
  • A copy of the notarized citizen identification card (applies also to a person when the loan is jointly received). The loan officer checks the original ID card and takes a copy. Otherwise, the loan officer will require a notarized copy.
  • Statement of residence
  • Collateral documents, real estate certificate, reference, land certificate, contract, cadastral map
  • Proof of income source documents and account statements
  • Permissions to operate and lease agreement
  • Proof of loan purpose
  • Proof of tax receipt in case of real estate purchase
  • Other required documents