| Terms | MNT | USD | EUR | CNY | JPY | RUB | KRW | GBP | SGD | HKD |
| Annual interest rate | 3.0%* | 1.2%* | 1.2%* | 1.2%* | 1.2%* | – | – | – | – | – |
| Monthly service fee | No fee | |||||||||
| Account opening fee | No fee | |||||||||
| Minimum balance requirement | 1,000 | 1 | 1 | 5 | 200 | 50 | 1,000 | 1 | 1 | 3 |
| * denotes the maximum interest rate for the product. | ||||||||||
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.
| Car loan | New Car |
Used car |
|
Loan amount |
Up to MNT 300 million |
Up to MNT 100 million |
| Loan amount is determined based on the fact that the monthly payment is no more than 60% of client’s total income. In case client has outstanding loans in other banks, NBFIs, to enterprises or individuals, the monthly payment takes into account the other outstanding loans. | ||
|
Loan term |
Up to 30 months |
|
|
Interest rate /monthly/ |
1.6% – 2.0% | |
|
Interest rate /annual/ |
19.2% – 24.0% |
|
| Service fee |
1% of the loan amount /maximum MNT 1,500,000/ |
|
|
Penalty interest rate |
Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate |
|
|
Collateral |
Purchased vehicle as a collateral |
|
|
Down payment |
Up to 10% |
Up to 30% |
|
Bank fee from vehicle supplier |
1% of the loan amount and it’s regulated through “Contractual agreement” |
|
|
Loan application fee |
MNT 10,000 |
|
|
Other |
The purchase must be made from suppliers in contractual agreement with Bank |
|
|
Credit recording enquiry fee /during loan analysis procedure/ |
Individual – MNT 1,000 Corporate – MNT 1,000 |
|
* Effective percentage rate /annual/: 20.90%-25.75%
| 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% | 4.00% |
3.30% |
| 7-9 months |
11.50% |
4.00% | 3.60% | 4.00% |
3.30% |
| 10-11 months |
12.00% |
4.00% | 3.60% | 4.00% |
3.30% |
| 12 months |
14.00% |
4.00% | 3.60% | 4.00% |
3.30% |
| 13-18 months |
14.00% |
5.00% | 3.60% | 4.00% |
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. |
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| 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. |
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| 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. |
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| Account opening fee | No fee | ||||
| Savings book | Free | ||||
We provide a comprehensive suite of financial solutions to fulfill the financial aspirations of our customers.