Categories
Category: Personal Banking
Categories
Eligibility or required documents
- Customer application form /download here/;
- An original copy and a copy of the agreement between the parties;
- Documents required:
- For Mongolian citizens: Citizen ID card;
- For Foreign citizens: Passport and certificate of alien registration;
- Passport and certificate of alien registration;
- Dear client, we inform you that if you are not able to come to the bank in person to open an account and use the bank’s products and services, you can receive these services through a representative based on a power of attorney. A representative (a person authorized by the client) has the right to act on your behalf within the limits of the powers granted by the power of attorney given by you.
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.
Categories
Benefits
- Available in ten (10) major currencies, including Моngolian Tugriks (MNT), USD, EUR, CNY, JPY, RUB, KRW, GBP, SGD and HKD
- Able to make various domestic and international transactions
- Transfer funds easily or receive payments via our online banking service
- Subscribe for an international or domestic debit cards linked to your account
- Foreign exchange, cash deposits and withdrawals available
Categories
Terms and conditions
| 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. | ||||||||||
Categories
Fees and charges
Categories
Eligibility or required documents
- Customer application form /download here/;
- Documents required:
-
-
- For Mongolian citizens: Citizen ID card;
- For Foreign citizens: Passport and certificate of alien registration;
-
- Passport and certificate of alien registration;
- Dear client, we inform you that if you are not able to come to the bank in person to open an account and use the bank’s products and services, you can receive these services through a representative based on a power of attorney. A representative (a person authorized by the client) has the right to act on your behalf within the limits of the powers granted by the power of attorney given by you.
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.
Categories
Benefits
- No requirement of additional collateral
- Prompt solution in short period of time.
Categories
Terms and conditions
|
Car loan |
New Car | Used car |
|
Loan amount |
Up to MNT 300 million | Up to MNT 100 million |
| 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%
Categories
Requirements
- The borrower must be employed by the employer for at least 6 months or have consistently run a business for at least 1 year;
- 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;
- Related certificates for purchasing vehicle and invoice of purchasing vehicle from supplier;
- Other documents required by Bank (on a case by case basis).
Categories
Advantages
- Competitive interest rates;
- Can be used as collateral for savings-backed loans with a low interest rate;
- Term deposits with 12 to 24 month maturities which pays interest income quarterly;
- No restrictions for deposit transactions;
- Access and manage your bank term deposit account using online banking services.
Categories
Terms and conditions
| 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. |
||||
| 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. |
||||
| 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. |
||||
| Account opening fee | No fee | ||||
| Savings book | Free | ||||
Categories