Flexible and Favorable Conditions
Categories
Category: Corporate Banking
| Credit line | MNT | USD |
| Maximum amount |
Up to 3.5 billion MNT and equivalent currency
|
|
| Interest rate /Monthly/ | 2.0%-1.6% | 1.5%-1.0% |
| Interest rate /annually/ | 24.0%-19.2% | 18.0%-12.0% |
| Commitment rate /annually/ | 4.2%-2.8% | 3.6%-2.0% |
| Term | Up to 12 months | |
| Service fee | 1% of the loan amount /maximum MNT 1,500,000/ | |
| 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 term | 0% | |
| Application fee | MNT 30,000 | |
| Credit recording enquiry fee /during loan analysis procedure/ | Individual – MNT 1,000 Corporate – MNT 1,000 | |
| Explanation: A loan product that allows you to mortgage the original customs documents for cars and heavy-duty machinery that do not have a federal number. |
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* Effective percentage rate /annual/: MNT 19.69%-24.51%
- Evidence of running the business in the last 12 months and continuing to pursue it as a going concern
- Good credit history and score
- Collateral to satisfy the bank’s requirements (e.g. property deeds, other fixed or moveable assets, etc.)
- Other requirements from bank on a case by case basis
- 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
Benefits
- The duration of the loan and the release of the principal loan are long and available in three types of currency;
- You, the client, can change your basic business model within the scope of the project loan and move to a more resource-efficient, environmentally friendly and green business model.
Categories
Conditions
| Green Project Loans | MNT | USD | EUR |
| Maximum loan amount | The maximum loan amount will be determined depending on the size of the business, capital and financial ability. | ||
| Loan interest /monthly/ | 2.0%- 1.6% | 1.5% – 1.1% | 1.5%-1.1% |
| Loan interest /annual/ | 24.0%-19.2% | 18.0%- 13.2% | 18.0%-13.2% |
| Term |
Up to 60 months
|
Up to 36 months
|
|
| Lending fees | 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 USD or its equivalent in Euro | |
| Added interest | The added interest is equal to 20% of the basic interest | ||
| Fee for modification of the original loan conditions | 0% | ||
| Period of exemption from principal | From 12 to 24 months | ||
| Application Fee | 30,000 MNT | ||
| Loan database reference fees /When loaned/ | For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT | ||
Categories
Requirements
- Projects and programs included in the category of “Mongolian Green Taxonomy” will be financed./ Click HERE /
- As a result of the project’s investment, the borrower’s business operating energy consumption would have been at least 20% saved, or the expectation had been reduced by more than 20%;
- For water-saving projects, a minimum of 20% savings will be available;
Categories
Benefits
- Does not require collateral (no immovable property nor automobile is required)
- Prompt solution in short period of time.
- No loan application fee.
| Terms and Conditions | Loan for Women-owned Micro Businesses |
| Loan amount | MNT 30 million
/Loan amount no more than 80% of the client’s total working capital/ |
| 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/: MNT 19.81%-21.61%
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.
• 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
Advantages
- The organization opens an account for the employee, earns regular income, and the employee has the right to dispose of it with the permission of the organization;
- It is possible to determine the amount of income at the request of employees and organizations;
- If the employee cancels the deposit before the end of the term, with the permission of the organization, the accrued interest can be paid in full, excluding the interest for late payment.
- No account closing fees.
Categories
Terms and conditions
| Employer’s Incentive Savings | Conditions | ||||
| Account currency | MNT, USD | ||||
| Terms | 12 months | 24 months | 36 months | ||
| Annual interest rate | MNT | Nominal | 13.50% | 14.00% | 14.00% |
| Effective | 14.37% | 14.93% | 14.93% | ||
| USD | Nominal | 4.00% | 5.00% | 5.50% | |
| Effective | 4.07% | 5.12% | 5.64% | ||
| Interest rate upon early termination of contract | – | ||||
| A fixed monthly income for the employer | 1% of basic salary – …%
/Decided within the framework of the organization’s policy./ |
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| A fixed monthly income for the employee | 1% of basic salary – …%
/Decided within the framework of the organization’s policy./ |
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| The percentage of earnings returned to the employee from the savings contributed by the employer at the time of termination of the savings | Decided within the framework of the organization’s policy. | ||||
| Deposit condition | Possible | ||||
| Withdrawal condition | End of the term | ||||
| Interest capitalization | Monthly | ||||
Categories
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
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/ | 2.4%-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 | |