- Experience in continuous business over the past 12 months;
- Qualify for collateral (immovable and movable assets);
- Other requirements of the bank.
Categories
Category: Organization
- Loan application letter;
- Loan application /from Bank/;
- A copy of the certificate and charter must be certified by a notary;
- Financial report certified by audit and tax office /last 1-3 years/;
-
Collateral information, related documents;
- Other documents;
| Conditions | MNT |
|
Maximum loan amount
|
The amount of the loan does not exceed 18 percent of the Bank’s equity, and the financing does not exceed 30 percent of the amount of gold reserves expressed in MNT in the gold mining enterprise. |
|
Loan interest /month/
|
1% |
|
Loan interest /annual/
|
12% (+3%) |
|
Term of loan
|
Up to 24 months
|
| Service fee |
1% of the loan amount or the maximum amount is 1,500,000 MNT
|
| Increased interest |
The increased interest rate is equal to 20% of the principal interest rate |
| Benefits of Changes to the Original Loan Term |
0% |
|
Period of exemption from principal
|
The Credit Committee will decide and may stay for a period determined by the Bank of Mongolia
|
| Application Fee |
30,000 MNT |
| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
- Requirements for gold-long-term financing loan applicants: Funding should not exceed 30 percent of the amount of gold reserves expressed in MNT in the gold mining company’s licensed area;
-
The participating gold mining enterprise will use the loan for investment purposes; Participating gold mining enterprise must fully accept the terms of purchasing mined gold from the Bank of Mongolia during the financing period, and will pay in MNT according to the loan repayment schedule;
-
The debt of the reclassified loan in the name of the ownership of the company is unpaid;
-
The borrower must have enough cash flow to pay the loan and interest obligations and have qualified collateral.
Categories
Benefits
- Flexible and favorable conditions
Categories
Terms and conditions
|
Credit line |
MNT | USD | EUR | CNY | JPY |
| Maximum loan amount |
The maximum loan amount will be determined depending business, capital and financial ability |
||||
|
Loan interest /month/ |
2.0%-1.60% | 1.50%-1.10% | 1.20%-0.85% | 1.20%-0.85% |
1.20%-0.85% |
| Loan interest /annual/ | 24.0%-19.20% | 18.0%-13.20% | 14.4%-10.20% | 14.4%-10.20% |
10.8%-10.20% |
|
Commitment interest /annual/
|
2.80%-4.2% | 2.0%-3.60% | 1.50%-3.0% | ||
| Term of loan | Up to 60 months |
Up to 36 months |
|||
|
Service fee |
1% of the loan amount or the maximum amount is 1,500,000 MNT | 0.5% of the loan amount or the maximum amount is 1,500 US dollars and the equivalent in EUR, CNY and JPY | |||
| Increased interest |
The increased interest rate is equal to 20% of the principal interest rate |
||||
|
Benefits of Changes to the Original Loan Term |
0% |
||||
| Application Fee |
30,000 MNT |
||||
| Credit database reference fee |
For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
||||
Categories
Requirements
- Last 12 months continuous business experience;
- Good credit history;
- Qualify for collateral
- Other requirements set by the bank
Categories
Eligibility or required documents
- Loan application letter. /Required loan amount, interest rate, term, collateral/
- Loan application /Bank form/
- 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 the identity card of the person authorized to sign the loan agreement / founders, general director, executive director, etc.,
- Special licenses, business plans and other documents related to business activities
- Details of financial statement figures as at the end of the last year. It includes: List of accounts receivable, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost of products, balance sheet of the last 1 year,
- Certificate of real estate to be mortgaged, /if the mortgaged property is in the name of another organization, a copy of the company’s certificate and charter, decision or resolution allowing the mortgage/
- List of vehicles and equipment to be pledged, certificates
-
Other necessary additional materials
Categories
Terms and conditions
|
Gold collateralizet loan |
Loan secured by certified gold bullion
|
Loan secured by uncertified gold bars
|
Gold loan without sample determination
|
|
|
Term |
Up to 12 months
|
Up to 6 months
|
Up to 3 months
|
|
|
Loan amount
|
Net weight* of gold Specimen*Gold Bank of Mongolia rate* (100%- Tax)*90% or 20% of equity up to | Net weight* of gold Specimen*Gold Bank of Mongolia rate* (100%- Tax)*80% or 20% of equity up to |
Gross weight* of gold from specimen /gold mining Stock samples before concluded bottom of specimen by amount/*(100%- Tax)*60% or 20% of equity up to
|
|
|
MNT interest rate
|
month |
1.8%-1.6% |
1.9%-1.6% |
2.0%-1.6% |
| annual |
21.6%-19.2% |
22.8%-19.2% |
24.0%-19.2% |
|
|
US dollar interest rate
|
month |
1.25%-1.0% |
1.35%-1.0% |
1.35%-1.0% |
| annual |
15.0%-12.0% |
16.2%-12.0% |
16.2%-12.0% |
|
| EUR interest rate | month |
1.25%-1.0% |
1.35%-1.0% |
1.35%-1.0% |
| annual |
15.0%-12.0% |
16.2%-12.0% |
16.2%-12.0% |
|
| CNY interest rate | month |
1.25%-1.0% |
1.35%-1.0% |
1.35%-1.0% |
| annual |
15.0%-12.0% |
16.2%-12.0% |
16.2%-12.0% |
|
| JPY interest rate | month |
1.25%-1.0% |
1.35%-1.0% |
1.35%-1.0% |
| annual |
15.0%-12.0% |
16.2%-12.0% |
16.2%-12.0% |
|
|
Service Fee
|
Free |
|||
|
Application Fee
|
30,000 MNT |
|||
|
Collateral |
Gold |
|||
|
Requirements for Collateralized Gold Bullion
|
Gold bullion with proof of gold and silver specimens tested by an accredited precious metals assay laboratory
|
Gold bullion with certificate of melting of precious metal ordered to be tested by an accredited laboratory of precious metals
|
A gold deposit report should be issued, and the report should have a sample report indicating the amount of gold content | |
- Gold bars with proof of gold or silver specimens tested by an Accredited Precious Metals Specimens Laboratory (ACM)
- A gold deposit report should be issued, and the report should have a sample report indicating the amount of gold content.
- Unassigned gold bullion with certificate of melting of precious metal ordered to be assayed by an accredited precious metal assay laboratory.