Category: Property secured loan

Property secured loan

Categories
Property secured loan

Terms and conditions

Conditions

 MNT USD EUR CNY JPY
Terms

Up to 120 months

Loan amount

 Up to 75% of the total payment of the contract or up to a maximum of 20% of the equity, or an equivalent currency
Loan interest /month/ 2.0%-1.6% 1.35%-1.0% 1.35%-1.0% 1.35%-1.0%

1.35%-1.0%

Loan interest /annual/

 24.0%-19.2% 16.2%-12.0% 16.2%-12.0% 16.2%-12.0% 16.2%-12.0%
Advance payment

At least 25%

Period of exemption from principal payment

 The period of exemption from the basic basic payment will be determined flexibly depending on the nature of the business, assets, and financial capabilities.
Additional conditions

Currency conversion available every 6 months or 1 year /USD/

Application fee

 30,000 MNT
Service fee

0.5% of the loan amount or a maximum of 1,500,000 MNT and equivalent currency

Other

 Assets purchased on credit will be fully insured. Customer is responsible for insurance premiums.
Credit database reference fee

For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT
Categories
Property secured loan

Requirements

A financial lease includes physical property that does not lose its basic properties during use, such as facilities, equipment, and vehicles, and that belongs to a fixed asset;

Categories
Property secured loan

Eligibility or required documents

  • Loan application letter;
  • Loan application /from Bank/;
  • Resolution of the Board of Directors/Shareholders’ Meeting/ on taking a loan. /The decision specifying the requested loan amount, interest rate, term, and collateral and appointing the person authorized to sign/;
  • A copy of the certificate and charter must be certified by a notary;
  • Copy of identity card of the person authorized to sign the loan agreement / founders, general director, executive director, etc., borrower’s resume;
  • Special licenses, business plans and other documents related to business activities;
  • References /in the name of Organization and major shareholders/;
  • Other Required documents;