Category: Personal Banking

Categories
Line of credit (LOC)

Terms and conditions

Credit line MNT  USD EUR RMB

JPY

Maximum amount

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/

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

14.40%-10.20%

Commitment fee /annually/

 2.8%-4.2% 2.0%-3.6%

1.5%-3.0%

Term

 Up to 60 months

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 in 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%

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
Line of credit (LOC)

Requirements

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

 

Categories
Line of credit (LOC)

Eligibility or required documents/Individual/

  • Loan Application / Bank’s application / and 1 passport-sized photo
  • A copy of the notarized citizen identification card (applies also to a person who jointly receives the loan). The loan officer checks the original ID card and makes a copy. Otherwise, the loan officer requires a notarized copy.
  • Statement of residence and statement from the National Police Agency of Mongolia
  • Collateral documents, real estate certificate, reference, land certificate, contract, cadastral map
  • Proof of income source documents and account statements
  • Permits for operation and lease agreement
  • Proof of loan purpose
  • Proof of tax receipt in case of real estate purchase
  • Other required documents
Categories
Investment Loan

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/

 24.00%-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/

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

Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Categories
Investment 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
Investment 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 and statement from the National Police Agency of Mongolia
  • 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
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
Categories
Salary Loan

Benefits

  • Get a loan as soon as possible if you need it financially;
Categories
Salary Loan

Terms and conditions

Salary loan

Terms

Maximum amount

Up to 60% of net salary for up to 30 months

Interest rate /monthly/

1.4%-2.0%

Interest rate /year/

16.8%-24.0%

Loan term

Up to 30 months

Service fee

1%

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

1% of the loan balance

Application fee

10,000 MNT

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

* Effective percentage rate /annual/: 17.92%-25.16%

Categories
Salary Loan

Eligibility or required documents

  • Request form, a passport photo, ID card and written request (to be written by hand);
  • Original and copy of social insurance book;
  • Residency reference;
  • Reference from the organization /it should be mentioned that it is possible to work in a stable way in the future/;
  • Salary account statement;
  • Other documents to determine household income and expenditure;
  • Other documents if loan collateralized.
Categories
Convertible savings collateral loan

Benefits

  • Offers loans up to 80% of your convertible term deposit, which is the highest percent of potential loan amount;
  • No service fee.
Categories
Convertible savings collateral loan

Terms and conditions

Convertible deposit collateralized loan

In case loan is provided in foreign currency by collateralizing MNT convertible term deposit 

Loan amount

Up to 80% of total amount of convertible term deposit

Loan interest rate /annual/                          

Annual interest rate of term deposit + 6.0%

Term

Determined upon maturity date of term deposit

Service fee 

0%

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%

Loan application fee 

MNT 1,000
Categories
Deposit backed loan

Benefits

  • Additional materials are not required;
  • Can receive loan in no time;
  • Receive loan and make loan payment through online banking.