UFinance 2.0

About UFinance 2.0

The UFinance application is an electronic loan service designed to meet customers' sudden cash needs.

Loan terms:

• Loan amount: 50,000₮-1,000,000₮;
• Loan term: 60-90 days (you can extend your loan by an additional 30 days by sending a request to extend the loan);
• Interest rate (monthly): 3.5%-6% (Maximum annual interest rate 72%)
• Lending commission: 3,000₮-10,000₮ (Depending on the loan amount)
• No collateral required.

Criteria for getting a loan:

• 18-year-old citizen of Mongolia with full legal capacity;
• Permanent residence in the locality where our services are provided;
• Not having an overdue credit history;
• Have a regular income.

Steps to become a user:
1. Download the UFinance application from the App and Play Store and confirm that the relevant information in the New user registration menu is filled in correctly.
2. Based on the personal and financial information you enter, the potential loan amount will be preliminarily calculated and displayed in the application.
3. You personally come to our branch to determine the final amount of the loan and sign the loan agreement.
4. By signing a contract, you can take a loan from our application and solve your financial problems at any time.

Loan repayment calculation methodology:
• The loan commission is charged once when taking out a loan.
• The principal amount of your loan is scheduled to be paid in equal installments over the selected period;
• The loan interest is calculated from the loan balance and is calculated only by the days used;
• The customer can completely close the loan before the due date at his request;
• See the table below for sample calculations?

Example calculation /MNT/:
Loan amount: 300,000
Issuance Fee: 6,000
Monthly loan interest: 6%

Date Principal Interest Payable Amount Loan Balance
Month 1 100,000 18,000 118,000 200,000
Month 2 100,000 12,000 112,000 100,000
Month 3 100,000 6,000 106,000 0
Total amount 300,000 36,000 336,000 0

Average monthly interest and commission rate: 4.67%
Usuk Undarga Finance BBSB
Usukh Undarga Finance NBFI