- 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 /
Nyamdelger Batjargal
Nyamdelger Batjargal has been appointed as Chief China Cooperation Officer at the TransBank of Mongolia in June 25, 2021.
She has more than 10 years of experience in the banking and financial sector.
Nyamdelger holds a Bachelor degree in International Business from
Shandong University and a Master’s degree in Business Administration from the same university.
She is currently studying for a Master’s degree in Public Administration at the Academy of Management.
Benefits
- Flexible and favorable term
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. |
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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 |
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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 |
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Penalty interest rate |
Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate |
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Fee for changing the original loan terms |
0% |
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Grace period |
Up to 12 months |
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Loan application fee |
30,000 MNT |
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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%
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.
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
Terms and conditions
Working capital loan |
MNT | USD | EUR | CNY |
JPY |
Loan size |
Flexible depending on business scope and financial solvency. |
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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 |
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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 |
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Penalty interest for rate |
Equivalent to 20 percent of the base interest rate |
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Loan forbearance fee |
0% |
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Grace period |
12 months |
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Loan Application fee |
MNT 30,000 |
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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%
Requirements
- Experience in continuous business for the last 12 months;
- Must meet the requirements of collateral (real estate and real property);
- Other bank requirements.
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
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.
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. |
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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. |
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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. |
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Account opening fee | No fee | ||||
Savings book | Free |
Fees and charges
- 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/.
Benefits
- Deposit physical Gold permanently (termless);
- Safe and risk-free;
- Does not charge any withdrawal or transaction fees.
Terms for gold current account (XAU) |
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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 |
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