- Satisfies the client’s financing need;
- Prompt solution in short period of time;
- Offers the lowest interest rate on the market for a collateral loan service.
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Categories
Terms and conditions
| Collateral loan | Apartment and retail real estate collateralized loan | Private home with land – collateralized loan | Transportation vehicle collateralized loan |
| Loan amount | Up to MNT 40,000,000 | Up to MNT 20,000,000 | Up to MNT 10,000,000 |
| Interest rate /monthly/ | 1.6%-2.0% | ||
| Interest rate /annual/ | 19.2%-24.0% | ||
| Loan term | Up to 24 months | Up to 12 months | |
| Service fee | 1% of the loan amount | ||
| 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 | 1% of the outstanding loan / maximum MNT 1,000,000/ | ||
| Loan application fee | MNT 10,000 | ||
| Credit recording enquiry fee /during loan analysis procedure/ | Individual – MNT 1,000 Corporate – MNT 1,000 | ||
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Requirements
- Collateral property must be registered on the borrower’s name;
- Up to 60% of after-tax income of the borrower must be sufficient for the monthly payment;
- The borrower must not have an outstanding or overdue loans at another bank or NBFI.
- Loan Application / Bank’s application /, 1 passport-sized photo, ID card and its copy;
- Statement of residence;
- Proof of income source documents and account statements;
- Original documents of collateral /enquiry of non-collateral from the General Authority of State Registration/;
- Other materials required from Bank.
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Benefits
- Interest rates are higher than deposit accounts on the market;
- CDs are often considered as good as securities;
- Allows the owner of the CD to inherit, sell, gift or transfer;
- Can be used as collateral for savings-backed loans with a low interest rate.
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Terms and conditions
|
Terms |
Annual Interest rate |
|
|
Tenor |
MNT |
USD |
| 1 month |
10.50% |
2.20% |
| 3, 6, 9 months |
12.50% |
4.00% |
| 12 months |
13.2% |
4.00% |
| Interest rate upon early termination of contract /annual/ |
2-4.8% |
1.20% |
| Minimum deposit |
100,000,000 MNT and 500,000,000 MNT. |
100,000 USD and 500,000 USD. |
| Interest payments |
At the end of the contract |
|
| Interest on ‘Repo’ financing |
Annual interest rate + 4.00% |
No repo financing |
| Other conditions |
No deposit transactions (Has strict rules on adding or making deposit transactions to your CD account) |
|
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Fees and charges
- Application form for legal entities /download here/;
- An official letter for opening a new bank account on company headed notepaper;
- An original copy and a copy of license from the Financial Regulatory Commission;
- Notarized copy of the Company’s ‘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/.
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Benefits
- Earn bigger high-yields for short-term
- Protection against currency risk exposure (exchange-rate risk)
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Terms and conditions
| Terms |
Hedge deposit |
Hedge deposit /High balance/ |
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| Currency |
MNT |
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| Tenor |
6 months |
12 months | 6 months | 9 months |
12 months |
| Annual interest rate |
6.00% |
7.00% | 7.50% | 8.50% |
9.00% |
| Interest rate upon early termination of contract /annual/ |
2.00% |
3.50% |
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| Minimum deposit |
USD equavant to 200,000,000 MNT |
MNT equivalent to 1,000,000 USD |
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| Interest rate payments |
At maturity date |
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|
Withdrawal condition |
At maturity date |
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| Deposit condition |
Impossible |
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| Account opening fee |
Free |
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| Savings book |
Free |
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Fees and charges
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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 Financial Regulatory Commission;
- Notarized copy of the Company’s ‘State Registration Certificate’;
- Notarized copy of the 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 operate the account;
- Additional documents /if necessary/.
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Benefits
- Earn interest and profit from short-term investment.
- Protection against currency risk exposure (exchange-rate risk)
- Allows you to make withdrawals from a deposit account every quarter for a calendar week.
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Terms and conditions
|
Terms |
Short-term deposit |
Long-term deposit |
||
|
Tenor |
6 months |
12 months |
||
|
Currency |
MNT |
USD |
MNT |
USD |
|
Annual interest rate |
15.00% |
5.0% |
16.00% |
6.0% |
|
Interest rate upon early termination of contract /annual/ |
2.4%-4.8% |
1.20% |
2.4%-4.8% |
1.20% |
|
Minimum deposit |
200,000,000 MNT or equivalent USD |
500,000,000 MNT or equivalent USD |
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|
Interest payments |
Quarterly |
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|
Withdrawal condition |
Quarterly |
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|
Deposit condition |
Possible |
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|
Conversion between currencies |
Any time during the contract, at principal amount only |
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