Salary loan

Agreement and credit line

Loan purpose:
This loan is for financial needs of employees of either the government or private sector, who receive their salary through Khan Bank.

Loan conditions:

Fees and commissions:
Acceptance fee:     1% of advanced loan

Requirements:
•     Permanent residency in the area.
•     Any public or private sector organisation must have an Agreement of Cooperation with Khan Bank.
•     Good record of employment in the particular organisations at least 12 months
•     Registration with the Social Security Agency.   

Required Documentation:

•    full-face photo
•    original copy of ID and social insurance book
•    Local governor's reference letter confirming place of residence /applicable to UB only
•    Reference from employer
•    Documents that will serve as a reference/basis of household income and expenses
•    Collateral documents (if real estate is pledged)                  

Secured salary loan

Loan purpose:
Public and private sector employees who have a regular salary income are eligible for this loan, secured by immovable or movable property. 

Loan conditions:  

Real estate
Loan amount:       shall not exceed  total of 18 months’ salary
Interest rate:        interest rate effective in the local area
Loan term:            up to 36 months

Movable property
Loan amount:       shall not exceed  total of 12 months’ salary
Interest rate:        interest rate effective in the local area
Loan term:            up to 24 months

Fees and commissions:

Acceptance fee:         1 %

Requirements:

•   Permanent resident of the location.
•   Permanent employment in public or private organization.
•   Employed in the particular organizations at least 12 months
•   Employment history.
•   Must be registered with Social security Agency.
•   The real estate or movable property will be in the ownership of the borrower.
•   Consent of co-owner, if any, authorizing the pledge of real  estate or movable property.

Documentation:

•   Personal ID.
•   Passport photo 1 copy.
•   Proof of residency.
•   Notarized copy of the social insurance passbook.
•   Reference letter from the Employer.
•   Supporting documents of family income.
•   Copy of Labor contract.
•   Real estate title certificate, land title certificate.
•   Reference letter from State Real Estate Registration Office confirming absence of lien or encumbrance against  the collateral property.
•   Consent of co-owner, if any, authorizing the pledge of real  estate or movable property.
•   Vehicle certificate and list of home furniture and appliances.

Salary card loan

Loan purpose:
This  loan will finances short term financial needs of customers whose employers have made a Cooperation Agreement with Khan Bank governing payroll disbursement through Khan Bank Visa cards.

Loan conditions:

Fees and commissions:

Loan application fee:     500 MNT

Requirements:
•    Permanent residency in the area.
•    Employment in the particular organisations at least 12 months.
•    Employment history.
•    Must be registered with Social Security Agency.
•    The real estate or movable property is in the ownership of the borrower.
•    Consent of co-owner, if any, authorising the pledge of real estate or movable property.

Required Documentation:
•    Personal ID.
•    1 Passport photo.
•    Proof of residency.
•    Notarised copy of the Social Insurance passbook.
•    Reference letter from Employer.
•    Supporting documents of family income.
•    Copy of Labour Contract.
•    Real estate title certificate, land title certificate.
•    Reference letter from State Real Estate Registration Office confirming absence of lien or encumbrance against the collateral property.
•    Consent of co-owner, if any, authorising the pledge of real estate or movable property.
•    Vehicle certificate and list of home furniture and appliances.