Category: Corporate Banking

Categories
Account statements and enquiries

Fees and charges

Available service fees Fees and charges
Account statements /Per 1 sheet/ 100 MNT
Reference letters:
Reference letter in Mongolian 4,000 MNT
Reference letter in English
Providing dedicated reference letters at the customer’s request 15,000 MNT
Providing reference letters for new accounts, opened less than 14 days since opening an account or for an additional new account co-holder 30,000 MNT
Additional copy of the reference letter /per copy/ 1,000 MNT
Reference letters regarding loan accounts or loans 30,000 MNT
Recover income, expenses and non-cash receipts from program, if lost 300 MNT
Making hard copy of documents and enquiries from bank’s archive /per page/ 3,000 MNT /within 1 year/
5,000 MNT /within 1-3 years/
10,000 MNT /above 3 years/
Correction transaction from caused by customer error 500 MNT
Daily statements No fee
Savings book 1,000 MNT
Issue bank cash cheque /Only for corporate and business account customers/
Per cheque 200 MNT
Bank cheque book /with 25 pages/ 4,000 MNT
Authorized Signature Form No fee
Cash withdrawals and income form
Account open request form
Account balance form of payment
Categories
Safe deposit box service

Benefits

  1. The most convenient and safe method for keeping your items;
  2. Protected from all types of external influences;
  3. Only the owner of the box has the right to open and to know what’s inside;
  4. Own as many boxes you want;
  5. Boxes are also available to be entrusted to one or more other owners at your discretion.
Categories
Safe deposit box service

Fees and charges for the boxes

№

Varieties of box size selection

/length*width*height/

Period for using ‘Deposit box’

1-15 days

 16-30 days 31-90 days

91 or above

Daily fee

1

 56*30*52 cm 700 MNT 650 MNT 550 MNT

500 MNT

2

 56*30*22 cm 500 MNT 400 MNT 350 MNT

300 MNT

3

 56*30*11 cm 450 MNT 350 MNT 300 MNT

250 MNT
Categories
Safe deposit box service

Eligibility or required documents

  1. A formal request or official letter provided by the company is required to apply for this service.
Categories
Standing order

Benefits

 

  1. Time saving;
  2. The service is free;
  3. Transfer funds to your deposit account regularly;
  4. The timing and amount of the transaction can be adjusted as per the customer’s requirements.

 

Categories
Standing order

Fees and charges

This service does not charge any admission fee or transaction fee.

Categories
Standing order

Requirements

  1. Have an account already opened by your organization
Categories
Corporate payment card

Benefits

  • Company management or a particular employee can hold the card.
  • Operating cash flow management effectively;
  • Secured with the latest EMV chip technology
  • Paywave technology that allows contactless payment
Categories
Corporate payment card

Terms and conditions

CONDITIONS CORPORATE PAYMENT T CARD
Currency MNT
Annual fee MNT 15,000
Validity 3 years
Sub-card annual fee MNT 5,000
Reissuance fee
Urgent order fee
Daily POS purchase limit MNT 25,000,000 or foreign currency equal to the amount
Daily ATM withdrawal limit MNT 15,000,000 or foreign currency equal to the amount
Deposit fee at a TransBank branch No fee
Deposit fee at an agent bank MNT 100
Balance inquiry at a TransBank branch No fee
Balance inquiry at an agent bank MNT 100
Pin code change /ATM/
New pin code acquiring fee /Bank/ MNT 1,000
Acquiring, changing e-pin code fee MNT 100
Cash withdrawal at TransBank branch MNT- no fee;
MNT- withdrawing cash shall be converted at the bank’s exchange rate
Cash withdrawal at agent bank branch Withdrawing 0 – 99,999 MNT fee 300 MNT, Withdrawing 100,000 – or above MNT Fee 0 MNT
Cash withdrawal other domestic bank branch Withdrawing  0 – 99,999 MNT fee 500 MNT, Withdrawing 100,000 – or above MNT Fee 0 MNT
Categories
Corporate payment card

Required documents

  1. ID card or foreign passport of the employee
  2. Employer reference 
  3. Notarized signature and corporate stamp
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

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

Required documents

  1. Official request/amount, interest, term and collateral to be pledged should be mentioned/
  2. Loan Application / Bank’s application / 
  3. 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 /
  4. Copy of company certificate, copy of company charter / stamped by state registration office /
  5. 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)
  6. Business licenses, plans and other documents
  7. The purpose of the loan, contract, project, etc.
  8. The market and competitor’s analysis
  9. Tax reference
  10. GCCA reference / in the name of the organization and shareholders /
  11. Reference from GASR / on behalf of enterprises and major shareholders /
  12. Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
  13. 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
  14. Account statement / last 12 months /
  15. 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)
  16. Collateral historical and detailed reference
  17. Pledged land certificate, contract and cadastral map
  18. List and certificate of pledged machinery and equipment
  19. Proof of tax payment in case of real estate purchase
  20. Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
  21. Other required additional materials
Categories
Small and Medium Business loan-Repo

Terms and conditions

Terms

Product terms

Product

Small and medium business loans – Repo

Loan amount / securitization /

Up to 3,000,000,000 / Three billion MNT

Loan interest rate /annual/

10.50% / Repo trading interest rate + not more than 4 percentage points /

Loan interest rate /monthly/

Up to 2 years

Service fee

In case of a new loan, it shall not exceed 1 percent of the loan amount or MNT 1,500,000

Penalty interest rate

Penalty interest rate is equivalent to 20 percent of the base interest rate

Application fee

30,000 MNT

Grace period

At least 6 months

Other

Other requirements and conditions of the Bank of Mongolia

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate – 1,000 MNT 

* -Product conditions will change from time to time according to the order and decision of the Bank of Mongolia.
Categories
Small and Medium Business loan-Repo

Requirements

  • To meet the criteria set by the Bank of Mongolia, which provides the source of repo financing;
  • In accordance with Articles 4 and 5 of the Law on Promotion of Small and Medium Enterprises and Services, citizens and business entities with up to 200 employees and annual sales of up to MNT 2.5 billion are eligible;
  • Non-mining exports, processing industries and services *, wholesale and retail sectors with 200 or more employees;

Click HERE to get acquainted with the criteria and requirements set by the Bank of Mongolia.

Click HERE to see more questions and answers.