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Overdraft

You are able use this service in order to find a solution in a short time for all type of your financial demand.

Loan condition

Overdraft

Loan amountUp to 500,000,000.0 (five hundred million) MNT (depends on transactions through current account)
Loan interest rateMonthly interest rate on business loan + 0.2% (per month)
Duration to use the rightUp to 6 months
Repayment period1 month (Duration to refund to overdraft bank balance from client)
Service fees0.5 percentage (1 time)
CollateralCurrent account income (requires additional collateral if required)
Requirement
  • Legal entity registered in Mongolia

  • Have a current account with the bank and have received sales revenue and transferred funds through the current account for at least 2 years

  • Must have at least 2 years of experience in the field of business and have solvency

  •  No overdue or non-performing loan history at banks and non-banking financial institutions Business income shall be non-seasonal based and independent of a single buyer/supplier 
     

Required document
  • Loan application - Company (form-069), information authorized signatories to sign financial documents (form-070)

  • State registration certificate

  • Company charter 

  • Lease agreements, account statements, and inventory balances

  • Other necessary documents (operating permit, license, etc.)