Loan secured by POS income
We offer you the opportunity to get a loan under the most favorable conditions.
General Requirements:
- Must reside where the bank branch is located
- Have successful, uninterrupted operation of the business in the last 12 months
- The business is not prohibited by law, has a license to operate, has complete documents and an income
- The POS ownership contract must be made in the name of the loan applicant
- Have used Arig bank or other bank's POS device in the last 6 months or more
- The total amount of monthly transactions on Arig Bank and other bank's POS devices should be more than 3 million MNT
- Must not have a bad credit history
Collateral asset:
- POS device income
- Current assets (inventory)
- If necessary, real estate can be additionally mortgaged
Loan Terms and Conditions:
| Loan amount |
Up to 30 mln MNT |
| Interest rate /monthly/ |
1.6% - 1.9% |
| Interest rate /annually/ |
19.2% - 22.8% |
| Term | 30 months |
| Commission charge | 1% |
| Loan application fee | 10,000 MNT |
*Effective percentage rate /annually/: 16.41% - 18.76%
Benefits:
- The loan process is fast
- Flexible terms
Required documentation:
- Handwritten letter of loan request /with a photo taken within the last 6 months/
- Lease agreement and proof of rent payment
- POS account statement /for the last 1 year/
- POS ownership contract
- Documents related to conducting business activities
- Other documents that are required by the bank
