MFinance

MFinance — online personal loans in Mongolia MFinance is a mobile lending application operated by Remif Technologies LLC, a non-bank financial institution licensed by the Financial Regulatory Commission of Mongolia. AVAILABILITY MFinance is available only in Mongolia. All loans are issued in Mongolian tugrug (MNT) under the laws of Mongolia and are offered exclusively to residents of Mongolia. The app is not distributed, and no loans are offered, in any other country. WHAT YOU CAN DO IN THE APP • Register an account with your personal details • Apply for a personal loan online and receive a decision • Receive funds directly to your Mongolian bank account • View your repayment schedule, outstanding balance and payment history • Get reminders before each due date LOAN TERMS AND COSTS • Minimum repayment period: 61 days • Maximum repayment period: 120 months (10 years). The available term depends on the loan amount and your credit assessment. • Loan amount: from MNT 100,000 to MNT 1,000,000,000 • Annual interest rate: from 20.4% to 42% per year • Maximum Annual Percentage Rate (APR): 42% per year. MFinance charges no service or origination fee, so the APR equals the annual interest rate. There are no hidden charges. • Service fee / origination fee: MNT 0 • Late payment penalty: 20% of the interest accrued on the overdue amount • All interest and any charges are shown to you in full before you accept a loan offer. MFinance does not offer any loan that must be repaid in full within 60 days or less from the date the loan is issued. Our shortest repayment period is 61 days. HOW INTEREST IS CALCULATED Daily interest = Loan amount x Annual interest rate / 360 Total interest = Daily interest x Number of days the loan is used Total repayment = Principal + Total interest + Applicable fees (MNT 0) REPRESENTATIVE EXAMPLE 1 — shortest term (61 days) Loan amount (principal): MNT 1,000,000 Repayment period: 61 days Annual interest rate: 42% per year (our maximum rate) Daily interest: MNT 1,000,000 x 42% / 360 = MNT 1,166.67 Total interest: MNT 1,166.67 x 61 days = MNT 71,167 Service fee: MNT 0 Total amount repayable: MNT 1,071,167 Annual Percentage Rate (APR): 42% REPRESENTATIVE EXAMPLE 2 — one-year loan (365 days) Loan amount (principal): MNT 1,000,000 Repayment period: 365 days Annual interest rate: 42% per year (our maximum rate) Daily interest: MNT 1,166.67 Total interest: MNT 1,166.67 x 365 days = MNT 425,833 Service fee: MNT 0 Total amount repayable: MNT 1,425,833 Annual Percentage Rate (APR): 42% Both examples use our maximum rate of 42% per year. Our rates start from 20.4% per year, and the rate offered to you depends on your credit assessment. ELIGIBILITY • Citizen or legal resident of Mongolia, living in Mongolia • Aged 18 or older • A Mongolian national registration number and an active bank account in Mongolia PRIVACY AND YOUR DATA We collect only the information needed to assess your application and service your loan. We do not sell your personal data. We do not access your contacts, photos, SMS messages or call logs for lending decisions. You can request deletion of your account and data by contacting us at [email protected]. Privacy Policy: https://mfinance-loan-app.flycricket.io/privacy.html CONTACT US Remif Technologies LLC Suite 804, Gerege Tower, 17 Chinggis Avenue, 1st Khoroo, Sukhbaatar District, Ulaanbaatar, Mongolia Email: [email protected] Phone: +976 8985 7799 Borrowing money costs money. Please borrow responsibly and only what you can repay.