Category: Corporate Banking

Categories
Trade credit line

Post-shipment loan terms:

Post-shipment loan terms

 MNT USD EUR RMB

JPY

Maximum amount

Within the credit lines, the amount of trade agreements and transactions shall not be exceeded

Interest rate /annually/

Source cost + 2.0% -4.0%

Loan term (depending on product turnover)

Up to 60 months

Service fee

0%

Application fee

30,000 MNT

Full and partial prepayment fee

According to the terms of the foreign bank interest rate

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate- 1,000 MNT
Note:

The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.
Categories
Trade credit line

Requirements

  1. Running the business in the last 12 months and continuing it as a going concern
  2. Good credit history and score and other evidence of ability to repay the loan
  3. Collateral to satisfy the bank’s requirements
  4. Other requirements from the bank on a case by case basis
Categories
Trade credit line

Required documents

  • Official request/amount, interest, term and collateral pledged should be mentioned/
  • Loan Application / Bank’s application / 
  • 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 /
  • 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 (founders, CEO, CFO, etc.), borrower’s application form (if legal entity)
  • Business licenses, plans and other documents
  • The purpose of the loan, contract, project, etc.
  • The market and competitor’s analysis
  • Tax reference
  • GCCA reference / in the name of the organization and shareholders /
  • Reference from GASR / on behalf of enterprises and major shareholders /
  • Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
  • 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
  • Account statement / last 12 months /
  • 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)
  • Collateral historical and detailed reference
  • Pledged land 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 outstanding loans with other banks and NBFIs.
  • Other required additional materials
Categories
Gold program on-lending

Product Terms /Gold-Long-Term Financing/

Conditions 

MNT

Maximum loan amount

The loan amount shall not exceed 18 percent of the Bank’s equity and the financing shall not exceed 30 percent of the amount of gold reserves in togrogs in the license area owned by the gold mining company.

Loan interest rate /monthly/

1%

Loan interest rate /anual/

12% (Policy interest rate + 3%)

Loan term

Up to 24 months

Service fee

1% of the loan amount or up to a maximum of

 MNT 1,500,000

Penalty interest rate

Penalty interest rate is equal to 20% of the base interest rate

Fee for changing the original loan terms

0%

Grace period

The Loan Committee shall decide and may be for a period determined by the Bank of Mongolia

Application fee

30,000 MNT

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Corporate – 1,000 MNT
Categories
Gold program on-lending

Requirements

  1. Funding shall not exceed 30 percent of the amount of gold reserves in togrogs in the license area owned by a gold mining business entity;
  2. Participating gold mining companies must use the loan for investment purposes;
  3. The participating gold mining business entity must fully agree to the terms of selling the mined gold to the Bank of Mongolia during the financing period and will pay in MNT according to the loan repayment schedule;
  4. There is no debt classified in the name of the company;
  5. The borrower must have sufficient cash flow to repay the loan and interest and have sufficient collateral.
Categories
Financial lease

Давуу тал

Уян хатан, таатай нөхцөлтэй

Categories
Credit line

Benefits

  1. Flexible and favorable conditions.
Categories
Credit line

Terms and conditions

Line Loan

 MNT USD EUR CNY

JPY

Maximum loan amount

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

Loan interest rate / monthly/

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

 1.20%-0.85%

Loan interest rate / annual /

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

14.40%-10.20%

Loan interest rate / annual /

 2.8%-4.2% 2.0%-3.6%

1.5%-3.0%

Loan term

 60 months up

to 36 months

Service fee

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

0.5% of the loan amount or maximum amount of USD 1,500 and its equivalent in EUR, CNY and JPY

Increased interest

The accrued interest is equal to 20% of the principal

Initial loan change fee

0%

The application fee

30,000 MNT 

Credit recording enquiry fee /during loan analysis procedure/

Individual – 1,000 MNT

Entity – 1,000 MNT

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

Categories
Credit line

Requirements

  • Experience in continuous business for the last 12 months;
  • Have a good credit history and good creditworthiness;
  • Must meet the requirements of collateral (real estate and real property);
  • Must meet other requirements set by the bank.
Categories
Credit line

Required materials

  1. Official letter requesting a loan. / Describes the amount of loan, interest, term and collateral/
  2. Loan application / by the form /
  3. 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 /
  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 (Founder, Director, CEO, etc.), borrower’s application form (legal entity)
  6. Special licenses, business plan and other documents
  7. Information about the purpose of loan, contracts and agreements, projects, etc.
  8. Information about the market and competitors
  9. Tax authority reference
  10. Reference from General Authority of Enforcement of Judicial Decisions /on the name of the organization and shareholders /
  11. Reference from State Registration Office /on behalf of enterprises and major shareholders/
  12. Financial statements of the company certified by the Audit and Tax Administration – / As of last 4 quarters, as of end of the last year /
  13. 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,
  14. Account statement / As of the last 12 months /
  15. 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)
  16. Mortgage reference / historical, detailed /
  17. Pledge 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 loan balances with other banks and NBFIs.
  21. Other necessary additional materials
Categories
Credit line

Required documents/ Individual/

  1. Loan application / bank form /, 1 copy of photo,
  2. A copy of the borrower’s and co-obligor’s ID card / loan specialist will be required to make a notarized copy of the document if the loan specialist has reviewed the original, signed and certified and kept in the loan personal file. A notarized copy is required, unless the original is considered /
  3. Proof of residence and reference from the General Police Office 
  4. Pledged property documents, pledged real estate certificate, reference, land certificate, contract, cadastral map
  5. Income confirmation documents and bank account statements
  6. Permission to operate and lease agreement
  7. Proof of loan purpose
  8. Other required documents
  9. Proof of tax payment in case of real estate purchase
Categories
Gold collateral loan

Terms and conditions

Gold collateral loan Collateral loan with purity certified gold bullion Collateral loan with purity uncertified gold bullion

Collateral gold loan without sample purity testing

Term

 Up to 12 months Up to 6 months

Up to 3 months

Loan amount

 Net weight * Gold sample * Bank of Mongolia exchange rate for gold * (100% -Tax) * 90% or up to 20% of equity Net weight * Gold sample * Bank of Mongolia exchange rate for gold * (100% -Tax) * 80% or up to 20% of equity

Gross weight * Gold sample / minimum amount of sample taken before gold extraction / * (100% -Tax) * 60% or up to 20% of equity

MNT loan interest

Monthly

 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%

USD loan interest rate

Monthly

 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 loan interest

Monthly

 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 loan interest

Monthly

 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 loan interest

Monthly

 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

No fee

Application fee

30,000 MNT

Collateral

Gold

Requirements for gold bullion as collateral

 Gold bullion with proven identification of gold and silver samples by accredited laboratory tests of precious metal samples Gold bullion with a certificate of smelting of precious metals and no test results, ordered to be tested in an accredited laboratory for precious metal samples.

Have a gold deposit reserve report prepared and a sample report indicating the gold content in the report.
Categories
Gold collateral loan

Collateral requirements for gold bullion

  • Gold bullion with evidence of gold and silver samples based on the results of tests by an accredited laboratory for precious metal samples 
  • Prepare a gold deposit reserve report and have a sample report indicating the gold content in the report
  • Gold bullion with a certificate of smelting of precious metals and no test results, ordered to be tested in an accredited laboratory for precious metal samples.
Categories
Gold collateral loan

Required materials

  • Official letter requesting a loan
  • Permission to allow a company official to pledge gold
  • A notarized copy of the company’s certificate and charter
  • Borrower’s consent
  • Application form of the entity, CEO and CFO
  • Power of attorney issued to a bank employee to receive test results from an accredited precious metal sample laboratory / if the sample has not been identified /
Categories
Investment Loan

Benefits

  • Flexible and favorable term