Category: Personal Banking

Categories
Movable property and machinery

Terms and conditions

Movable property and machinery MNT USD EUR RMB JPY
Term/monthly/ Up to 60 months
Loan amount The maximum amount of financial lease is 20 billion MNT or equivalent currency
Advance payment Depending on the level of risk, the percentage of advance payment will be set up to 50%. In case of double mortgage of immovable and movable property, the advance payment rate can be reduced and set flexibly.
Interest rate/monthly/ 2.00%-1.60% 1.35%-1.00% 1.35%-1.00% 1.35%-1.00% 1.35%-1.00%
Interest rate / annually/ 24.40%-19.20% 16.20%-12.00%  16.20%-12.00%  16.20%-12.00%  16.20%-12.00%
Service fee 1% of the loan amount /maximum MNT 1,500,000/ or equivalent currency
Application fee 30,000 MNT
Other terms Purchased asset on credit must be covered by comprehensive insurance. The client is responsible for the insurance premium.
Credit recording enquiry fee /during loan analysis procedure/ Individual – 1,000 MNT

Corporate – 1,000 MNT

* Effective percentage rate /annual/: MNT 19.73%-24.55%

Categories
Movable property and machinery

Requirements

  • Purpose of the loan is to support services to customers and upgrade machinery 
  • Running the business in the last 12 months and continuing it as a going concern
  • Good credit history and score and other evidence of ability to repay the loan
  • Collateral to satisfy the bank’s requirements
  • Other requirements from the bank on a case by case basis
Categories
Movable property and machinery

Required documents

  • Official request/amount, interest, term and collateral to be pledged should be mentioned/
  • Loan Application / Bank’s application / 
  • Resolution of the Board of Directors on ​​obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
  • Copy of company certificate, copy of company charter / stamped by state registration office /
  • Copy of ID card of the person authorized to sign the loan agreement (e.g. founder, CEO, CFO, etc.), borrower’s application form (if legal entity)
  • Business licenses, plans and other documents
  • The purpose of the loan, contract, project, etc.
  • The market and competitor’s analysis
  • Tax reference
  • GCCA reference / in the name of the organization and shareholders /
  • Reference from GASR / on behalf of enterprises and major shareholders /
  • Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
  • Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
  • Account statement / last 12 months /
  • Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
  • Collateral historical and detailed reference
  • Pledged land certificate, contract and cadastral map
  • List and certificate of pledged machinery and equipment
  • Proof of tax payment in case of real estate purchase
  • Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
  • Other required additional materials
Categories
Loan for Women-owned Micro Businesses

Benefits

  1. Does not require collateral (no immovable property nor automobile is required)
  2. Prompt solution in short period of time.
  3. No loan application fee.
Categories
Loan for Women-owned Micro Businesses

Terms and Conditions

Terms and Conditions Loan for Women-owned Micro Businesses
Loan amount MNT 30 million /maximum loan amount to 60% of average sales revenue for 6 months/
Loan term Up to 12 months
Interest rate /monthly/ 1.60%-1.80%
Interest rate /annual/ 19.20%-21.60%
Loan application fee MNT 0
Commitment fee /annual/ 2.8%

* Effective percentage rate /annual/: 19.81%-21.61%

Categories
Loan for Women-owned Micro Businesses

Requirements

Individuals shall be a female entrepreneur;

The legal entity shall meet one of the following requirements:

•  More than 51% of the company’s shares are owned by female shareholders;

•  To have a female CEO or General Director;

•  At least 50% of all employees are women /Legal entity shall be led by a female entrepreneur/

Evidence of running the business in the last 12 months and continuing to pursue it as a going concern and TransBank POS device shall be used for at least 6 months.

Categories
Loan for Women-owned Micro Businesses

Required documents

•  1 passport-sized photo

•  Account statement /last 6 months/;

•  Inventory information;

•  If you have a loan balance with other banks and NBFIs, loan agreement and loan account statement;

•  Other required documents, if necessary.

Categories
Forms and request lists

DECLARATION OF BENEFICIAL OWNERSHIP

Categories
Floating interest savings collateral loan

Benefits

  • Offers loans up to 85% of your convertible term deposit, which is the highest percent of potential loan amount;
  • No service fee.
Categories
Floating interest savings collateral loan

Terms and conditions

Conditions Floating interest savings collateralized loan
Loan amount The total amount of loan and interest does not exceed 90% of the term deposit
Loan interest rate /annual/ Loan at branches:
More than MNT 1 billion

/term deposit amount/

 Annual interest rate of term deposit +4%
MNT 500,000,001 – MNT 1 billion

/term deposit amount/

 Annual interest rate of term deposit +5%
Up to MNT 500,000,000

/term deposit amount/

 Annual interest rate of term deposit +6%
Currency of loan MNT
Term Determined by maturity date of term deposit
When there is a change in the deposit interest rate Loan interest rates are subject to change
Service fee –
Fee for changing the original loan terms –
Loan application fee –
Categories
Floating interest deposit

Advantages

  • Allows you to make withdrawals from a deposit account every quarter for a calendar week
  • Receive interest payments every quarter
  • If the policy interest rate announced by the Bank of Mongolia changes, the interest rate on your deposit will change accordingly
Categories
Floating interest deposit

Terms and conditions

Terms and conditions
Tenor MNT
Duration 12, 18, 24 months
Annual interest rate Up to 499,999,999 MNT

/Deposit balance/

 Policy interest rate + 3.0%
More than 500 million MNT

/Deposit balance/

 Policy interest rate + 3.5%
Minimum deposit 100,000,000 mnt
Interest rate upon early termination of contract/annual/ 2.0%-4.8%
Interest capitalization Quarterly
Withdrawal condition Quarterly
Deposit condition Possible
As a modification in the policy interest rate Deposit interest rates are subject to change
Categories
Floating interest deposit

Eligibility or required documents

  1. Customer application form /download here/;
  2. Documents required:
    • For Mongolian citizens: Citizens ID card;
    • For Foreign citizens: Passport and certificate of alien registration.
Categories
Product benefits and incentives

Details

  • For Floating interest deposits will earn a bonus interest of up to 3.5% on top of the policy interest depending on the account balance.
  • Interest on deposits protected against exchange rate risk will be paid in accordance with the rise and fall of the exchange rate announced by the Bank of Mongolia.
  • By order of the Chief Executive officer, the interest rate on MNT deposits can be increased up to 4.0%, the interest rate on USD deposits to 3.0%, and for CNY up to 0.5%.
  • Other conditions may be flexibly established with the approval of the  Chief Executive officer.
Categories
Hedge savings collateral loan

Benefits

  • Offers loans up to 75% of your convertible term deposit, which is the highest percent of potential loan amount;
  • No service fee.