Category: Corporate Banking

Categories
Investment Loan

Terms and conditions

Investment loan MNT USD EUR RMB

JPY

Maximum amount

The borrower must finance at least 30% of the total investment.

The maximum loan amount depends on the size of the business, capital and financial capacity.

Interest rate/monthly/

 2.00%-1.60% 1.50%-1.10% 1.20%-0.85% 1.20%-0.85%

1.20%-0.85%

Interest rate/annually/

 24.0%-19.20% 18.00%-13.20% 14.40%-10.20% 14.40%-10.20%

14.40%-10.20%

Term

 Up to 60 months

Up to 36 months

Service fee

 1% of the loan amount /maximum MNT 1,500,000/

Олгосон зээлийн дүнгийн 0.5% буюу дээд хэмжээ нь 1,500 ам.доллар болон түүнтэй тэнцэх евро, юань, иен

Penalty interest rate

Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate

Fee for changing the original loan terms

0%

Grace period

Up to 12 months

Loan application fee 

30,000 MNT

Credit recording enquiry fee /during loan analysis procedure/

Individual – MNT 1,000

Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.69%-24.51%

Categories
Investment Loan

Requirements

  1. Experience in continuous business for the last 12 months;
  2. Have a good credit history and good creditworthiness;
  3. Must meet the requirements of collateral (real estate and real property);
  4. Must meet other requirements set by the bank.
Categories
Investment Loan

Required documents

  • Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
  • Loan application / by the form /
  • Resolution of the Board of Directors (Shareholders’ Meeting) 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 (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
  • Special licenses, business plan and other documents
  • Information about the purpose of loan, contracts and agreements, projects, etc.
  • Information about the market and competitors
  • Tax authority reference
  • Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
  • Reference from State Registration Office /on behalf of enterprises and major shareholders/
  • Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
  • Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
  • Account statement / As of the last 12 months /
  • Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
  • Mortgage reference / historical, detailed /
  • Pledge 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 loan balances with other banks and NBFIs.
  • Other necessary additional materials
Categories
Working capital loan

Terms and conditions

Working capital loan

 MNT USD EUR CNY

JPY

Loan size

Flexible depending on business scope and financial solvency. 

Monthly loan interest

  2.00%-1.60%  1.50%-1.10%  1.20%-0.85%  1.20%-0.85%

 1.20%-0.85%

Annual loan interest

 24.00%-19.20% 18.00%-13.20% 14.40%-10.20% 14.40%-10.20%

14.40%-10.20%

Loan period

36 months

Loan origination fees

 Amounts to about 1% of disbursed loan or equivalent to MNT 1,500,000

0.5% of the disbursed loan amount, or a maximum of USD 1500, or the equivalent amount in EUR, CNY, or JPY

Penalty interest for rate

Equivalent to 20 percent of the base interest rate

Loan forbearance fee 

0%

Grace period

12 months

Loan Application fee

MNT 30,000 

Credit recording enquiry fee /during loan analysis procedure/

Individual – MNT 1,000 

Corporate – MNT 1,000

* Effective percentage rate /annual/: MNT 19.95%-24.77%

Categories
Working capital loan

Requirements

  1. Experience in continuous business for the last 12 months;
  2. Must meet the requirements of collateral (real estate and real property);
  3. Other bank requirements.
Categories
Working capital loan

Required documents

  • Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
  • Loan application / by the form /
  • Resolution of the Board of Directors (Shareholders’ Meeting) 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 (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
  • Special licenses, business plan and other documents
  • Information about the purpose of loan, contracts and agreements, projects, etc.
  • Information about the market and competitors
  • Tax authority reference
  • Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
  • Reference from State Registration Office /on behalf of enterprises and major shareholders/
  • Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
  • Details of the financial statements as of the end of the year. Includes: List of receivables, List of current assets, Detailed list of fixed assets, Detailed list of payables and liabilities, Sales breakdown, unit cost, balance sheet for the last 1 year,
  • Account statement / As of the last 12 months /
  • Pledge certificate of real estate (if the pledge is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution to allow pledge)
  • Mortgage reference / historical, detailed /
  • Pledge 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 loan balances with other banks and NBFIs.
  • Other necessary additional materials
Categories
Regular term deposit

Benefits

 

  • The ability to add funds to your deposit account any time;
  • Can be used as collateral for savings-backed loans with a low interest rate;
  • Term deposits with 12 to 24 month maturities earn interest quarterly;
  • Manage your bank deposit accounts using online banking services.
Categories
Regular term deposit

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% 4.50% 3.30%
7-9 months 11.50% 4.00% 3.60% 4.50% 3.30%
10-11 months 12.00% 4.00% 3.60% 4.50% 3.30%
12 months 14.00% 4.00% 3.60% 4.50% 3.30%
13-18 months 14.00% 5.00% 3.60% 4.50% 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
Regular term deposit

Fees and charges

Other fees and charges

Categories
Regular term deposit

Eligibility or required documents

  • Application form for legal entities /download here/;
  • An official letter for opening a new bank account;
  • An original copy and a copy of license from the Mongolian Financial Regulatory Commission;
  • Notarized copy of ‘State Registration Certificate’;
  • Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
  • Notarized signature of applicant /download here/;
  • Declaration of Beneficial Ownership /download here/;
  • Copy of ID card of the authorized personnel to dispose with an account;
  • Additional documents /if necessary/.
Categories
Account service in ‘Gold’ denomination

Benefits

  • Deposit physical Gold permanently (termless);
  • Safe and risk-free;
  • Does not charge any withdrawal or transaction fees.
Categories
Account service in ‘Gold’ denomination

Terms and conditions

Terms for gold current account (XAU)

Account currency

XAU- Gold /Oz/

Interest rate /annual/

 In face of the global pandemic COVID-19, no interest will be paid for any type of current accounts, during the implementation of the “Law on Prevention, Control and Reduction of Social and Economic Impact of Coronavirus”.

Minimum balance requirement

 –
Categories
Account service in ‘Gold’ denomination

Fees and charges

Other fees and charges

Categories
Account service in ‘Gold’ denomination

Eligibility or required documents

  • Application form for legal entities /download here/;
  • An official letter for opening a new bank account;
  • An original copy and a copy of license from the Mongolian Financial Regulatory Commission;
  • Notarized copy of ‘State Registration Certificate’;
  • Notarized copy of Company’s ‘Charter or Memorandum of Association (MOA);
  • Notarized signature of applicant /download here/;
  • Declaration of Beneficial Ownership /download here/;
  • Copy of ID card of the authorized personnel to dispose with an account;
  • Additional documents /if necessary/.
Categories
Current Account

Benefits

  • Available in ten (10) major currencies, including Моngolian Tugriks (MNT), USD, EUR, CNY, JPY, RUB, KRW, GBP, SGD and HKD.
  • Make various domestic and international transactions;
  • Cash deposits and withdrawals;
  • Foreign exchange at competitive rates;
  • Manage your business accounts using our online banking service, from anywhere, at any time.