- Customer application form /download here/;
- An original copy and a copy of the agreement between the parties;
- Documents required:
- For Mongolian citizens: Citizen ID card;
- For Foreign citizens: Passport and certificate of alien registration;
Month: May 2022
- Passport and certificate of alien registration;
- Dear client, we inform you that if you are not able to come to the bank in person to open an account and use the bank’s products and services, you can receive these services through a representative based on a power of attorney. A representative (a person authorized by the client) has the right to act on your behalf within the limits of the powers granted by the power of attorney given by you.
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.
Benefits
- Available in ten (10) major currencies, including Моngolian Tugriks (MNT), USD, EUR, CNY, JPY, RUB, KRW, GBP, SGD and HKD
- Able to make various domestic and international transactions
- Transfer funds easily or receive payments via our online banking service
- Subscribe for an international or domestic debit cards linked to your account
- Foreign exchange, cash deposits and withdrawals available
Terms and conditions
Terms | MNT | USD | EUR | CNY | JPY | RUB | KRW | GBP | SGD | HKD |
Annual interest rate | 3.0%* | 1.2%* | 1.2%* | 1.2%* | 1.2%* | – | – | – | – | – |
Monthly service fee | No fee | |||||||||
Account opening fee | No fee | |||||||||
Minimum balance requirement | 1,000 | 1 | 1 | 5 | 200 | 50 | 1,000 | 1 | 1 | 3 |
* denotes the maximum interest rate for the product. |
Fees and charges
Eligibility or required documents
- Customer application form /download here/;
- Documents required:
-
-
- For Mongolian citizens: Citizen ID card;
- For Foreign citizens: Passport and certificate of alien registration;
-
- Passport and certificate of alien registration;
- Dear client, we inform you that if you are not able to come to the bank in person to open an account and use the bank’s products and services, you can receive these services through a representative based on a power of attorney. A representative (a person authorized by the client) has the right to act on your behalf within the limits of the powers granted by the power of attorney given by you.
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.
Benefits
- No requirement of additional collateral
- Prompt solution in short period of time.
Terms and conditions
Car loan | New Car |
Used car |
Loan amount |
Up to MNT 300 million |
Up to MNT 100 million |
Loan amount is determined based on the fact that the monthly payment is no more than 60% of client’s total income. In case client has outstanding loans in other banks, NBFIs, to enterprises or individuals, the monthly payment takes into account the other outstanding loans. | ||
Loan term |
Up to 30 months |
|
Interest rate /monthly/ |
1.6% – 2.0% | |
Interest rate /annual/ |
19.2% – 24.0% |
|
Service fee |
1% of the loan amount /maximum MNT 1,500,000/ |
|
Penalty interest rate |
Penalty interest rate /equivalent to 20% of base interest rate/ is added to the base interest rate |
|
Collateral |
Purchased vehicle as a collateral |
|
Down payment |
Up to 10% |
Up to 30% |
Bank fee from vehicle supplier |
1% of the loan amount and it’s regulated through “Contractual agreement” |
|
Loan application fee |
MNT 10,000 |
|
Other |
The purchase must be made from suppliers in contractual agreement with Bank |
|
Credit recording enquiry fee /during loan analysis procedure/ |
Individual – MNT 1,000 Corporate – MNT 1,000 |
* Effective percentage rate /annual/: 20.90%-25.75%
Requirements
- The borrower must be employed by the employer for at least 6 months or have consistently run a business for at least 1 year;
- Up to 60% of after-tax income of the borrower must be sufficient for the monthly payment;
- The borrower must not have an outstanding or overdue loans at another bank or NBFI.
- Loan Application / Bank’s application /, 1 passport-sized photo, ID card and its copy;
- Statement of residence;
- Proof of income source documents and account statements;
- Related certificates for purchasing vehicle and invoice of purchasing vehicle from supplier;
- Other documents required by Bank (on a case by case basis).
Энгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламж
Transport and Development Bank (TransBank), the first commercial bank to introduce a world-class Private Banking service in Mongolia has been operating in the banking and financial sector for the past 25 years. The Bank has started a new page of its history in 2021 with the merger of TransBank with the Credit Bank.
Within the framework of its new strategic goals, TransBank was first to introduce Private Banking services in Mongolia and is delivering the Private Banking services to its customers in accordance with international standards. Following up on our success, we are happy to announce that TransBank in partnership with “KKTT” LLC, a subsidiary of Innovation Investment, has successfully received the authorization from TenPay to receive payments using the WeChat Pay system.
Our partnership is composed of 3 stages. The first stage is to receive payments by static, system-connected Dynamic, and Official Account Pay.
During the second stage or in the third quarter of 2022, Mongolian small and medium-sized enterprises and those that create economic value will be able to sell their products by placing them on their own online store on the Wechat application. The introduction of the payment system will not only increase the number of online trading channels between the two countries, but will also create a great opportunity for us to supply our products to the online shopping market and create major economic opportunities.
Lastly, in the third stage, we are working toward making it possible for Mongolian citizens to link their Mongolian payment cards to the WeChat payment network and be able to pay for products without any additional fees.
By registering to the WeChat Pay payment service, merchants can receive payments made through the WeChat Pay system within the same day, while also enjoying the lowers transaction fee of 2%.
Шинийг эрэлхийлэгч
- Өөрчлөлт хөгжилд тэмүүлэгч, шинийг эрэлхийлэгч, бүтээлч сэтгэлгээтэй
- Өөрийгөө таних, хөгжүүлэхийн төлөө тасралтгүй суралцагч
- Зорилгоосоо няцдаггүй, сахилга баттай, манлайлагч