Due to recent global economic slowdown and troubled banking and financial sector commercial banks have stopped housing loans but Trade development bank (TDB) is still providing housing loans of 30-150 million MNT to those who are interested in buying a house or a flat.

Sources say that TDB will give housing loans to individuals who buys house from; Puma construction, Avzaga trade, Jiguur grand, Max and Gangar invest. TDB also provides loans with 1.7% interest for housing decoration and refurbishment. This type of loan ranges from 1-50 million MNT and requirement is that the borrowers have to provide 25% of the loan size.

 

Source: Daily Business News Mongolia

Jan 21, 2009