Other fees for current and savings accounts
Categories
Category: Citizens
Categories
Eligibility or required documents
-
Customer application form /download here/
- For Mongolian citizens: Citizens ID card;
- For Foreign citizens: Passport and Certificate of Alien Registration
-
No additional collateral is required
-
It will be resolved quickly and in a short period of time.
Categories
Terms and conditions
| Car loans |
Car loan |
| Loan amount |
The amount shall not exceed the total purchase price of the vehicle |
| Terms |
Up to 96 months |
| Loan interest /month/ |
1.7% – 2.1% |
| Loan interest /annual/ |
20.4% – 25.2% |
| Service Fees |
1% |
| Increased interest |
The increased interest rate is equal to 20% of the principal interest rate |
| Collateral |
Purchased vehicle |
| Down payment |
10%-30% |
| Supplier’s Fee |
1% |
| Application Fee |
10,000 MNT |
| Benefits of Changes to the Original Loan Term |
Loan balance up to 1% /Maximum amount 1,000,000/ |
| Other |
It is required to purchase cars from the supplier organization with which the “Cooperation Agreement” has been concluded. |
| Credit database reference fee |
Citizen – 1,000 MNT, Organization – 1,000 MNT |
Actual cost /annual/: 22.3%-27.1%
Categories
Requirements
-
Have been with the organization for at least 6 months or have been in stable business for at least 1 year;
-
Up to 55 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;
Categories
Eligibility or required documents
-
Application, resume /bank model/, 1 copy of photo, identity card
-
Residence reference (issued by local authority)
-
Required documents and bank statements to prove salary or business income
-
Certificate of collateral and related documents
-
Other materials necessary by the Bank
Categories
Benefits
- Competitive interest rates;
- No restrictions for deposit transactions;
- Use as collateral for deposit collateralized loans with a low interest rate;
- Access and manage your account by using our online banking service
Categories
Terms and conditions
Terms |
MNT |
USD |
EUR |
CNY |
JPY |
|
Duration |
Annual interest rate |
|||||
1 month |
up to 10.50% |
2.20% |
1.20% |
1.20% |
1.20% |
|
2 months |
up to 10.50% |
2.50% |
1.20% |
1.20% |
1.20% |
|
3 – 6 months |
11.0% |
4.0% |
3.60% |
4.0% |
3.30% |
|
7 – 9 months |
11.50% |
4.0% |
3.60% |
4.0% |
3.30% |
|
10 – 11 months |
12.0% |
4.0% |
3.60% |
4.0% |
3.30% |
|
12 months |
Nominal interest rate |
14.0% |
4.0% |
3.60% |
4.0% |
3.30% |
Effective interest rate |
14.75% |
4.06% |
3.65% |
4.06% |
3.34% |
|
13 – 18 months |
Nominal interest rate |
14.0% |
5.0% |
3.60% |
4.0% |
3.30% |
Effective interest rate |
14.75% |
5.09% |
3.65% |
4.06% |
3.34% |
|
19 – 24 months |
Nominal interest rate |
14.0% |
5.50% |
– |
– |
– |
Effective interest rate |
14.75% |
5.61% |
– |
– |
– |
|
Early termination interest rate |
2.4% |
0.6% |
0.6% |
0.6% |
0.6% |
|
Minimum balance requirement |
10,000 MNT |
10 USD |
10 EUR |
100 CNY |
1,000 JPY |
|
Interest payment conditions |
|
|||||
Withdrawal conditions |
|
|||||
- Dear Customer, by depositing the interest you received into your savings account on the same day, you will have the opportunity to earn a return based on the “Effective Interest Rate”. If the interest is not re-deposited into your savings account, your returns will be calculated based on the Nominal Interest Rate.
- For clients with a stable financial relationship or of strategic importance, the interest rate and other terms of the deposit may be adjusted with the approval of the CEO
Categories
Other fees
-
Customer application form; /download here/
- For Mongolian citizens: Citizen’s ID card;
- For Foreign citizens: Passport and Residence permit in Mongolia;