Categories
Commercial mortgage

Terms and conditions

Property

MNT

USD EUR RMB

JPY

Term

Up to 120 months

Amount

Up to 75 percent of the total contract pricing or equivalent in foreign currency up to 20 percent of the maximum equity

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/ 24.00%-19.20% 16.20%-12.00% 16.20%-12.00% 16.20%-12.00% 16.20%-12.00%
Downpayment

Minimum 25%

Grace period

Depending on the loan purpose

Other terms

Currency conversion is possible every 6 months or 1 year

/USD/

Application fee

30,000 MNT

Service fee

0.5% of the loan amount /maximum MNT 1,500,000/ or equivalent currency

Insurance

Purchased asset on credit must 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 20.11%-24.95%