The loan finance the current asset in order increase your business revenue and profit, improve the quality of services and products and provide the financial needs to the entrepreneurs, enterprises and customers with the flexible and convenient terms.
Advantages:
Flexibility and convenient terms.
Prodcust terms:
| Terms | MNT | USD | EUR | CNY | JPY |
|---|---|---|---|---|---|
| Maximum amount | The maximum amount of the loan shall be determined by the business scope, capital and financial capability. The Bank's financing will not exceed 80% of total working capital. | ||||
| Interest /monthly/ | 1.8%-1.2% | 1.5%-1.0% | 1.5%-0.85% | 1.5%-1.0% | 1.0%-0.6% |
| Interest /yearly/ | 21.6%-14.4% | 18.0%-12.0% | 18.0%-10.2% | 18.0%-12.0% | 12.0%-7.2% |
| Period | Up to 36 months | ||||
| Service fee | 1% on loan amount /Up to 1,500,000 MNT/ | 0.5% on loan amount /Up to 1500 USD or equivalent other currencies/ | |||
| Increased interest | Equivalent to 20% of interest rate | ||||
| Amendment fee | 0% | ||||
| Exemption from the main loan | Up to 12 months | ||||
| Application fee | 10,000 MNT | ||||
| Reference fee /Loan database/* | Private - 1,000 MNT Corporate - 5,000 MNT Reference of collateral asset - 10,000 MNT |
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*Effective from April 01, 2020.
Requirements to loan applicant:
- Must be operating in the current field of business for no less than 12 months;
- Must have no loan default at other banks or financial institutions;
- No bad loan history;
- To meet the requirements of the collateral asset (property or movable assets);
- Other requirements of the bank.
