Import loan
Loan purpose:
This loan finances the payment of import duty, related fees and shipment costs.
Loan conditions:
| |
MNT |
USD |
| Loan amount |
up to 70 percent imported product value |
| Interest rate |
2.2%-1.5% (26.4%-18% per annum/) |
1.8-1.2%(21.6%-14.4% per annum) |
| Loan term |
up to 6 months |
up to 6 months |
Fees and commissions:
Acceptance fee: MNT 1 % USD 0.5%
Requirements:
- Permanent resident of the area.
- Experience in the field; at least 5 months of experience in importing cars or other products.
- Sufficient market demand for the cars or imported products and established sales channel.
- Collateral that meets the bank’s requirements.
- Others
Required documentation:
- Personal ID.
- Passport photo 1 copy.
- Proof of residency issued from the local government.
- Authorization from relevant authority to import products.
- Custom declaration and receipt of customs duty payment.
- Import and sales contract of the imported product ( if any).
- Product quality control certificate.
- Technical certificate.
- Documents of shipment.
- Reference on outstanding debt from other banks or non banking organizations.
- Reference letter from State Real Estate Registration Office confirming absence of lien or encumbrance against the collateral property.
- Other.
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