Categories
Current account

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
Categories
Current account

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.
Categories
Current account

Fees and charges

Other current and saving account fees

Categories
Current account

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;
Categories
Car purchase loan

Benefits

  • No requirement of additional collateral
  • Prompt solution in short period of time.
Categories
Car purchase loan

Terms and conditions

Car loan

New Car Used car

Loan amount

Up to MNT 300 million Up to MNT 100 million
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%

Categories
Car purchase loan

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.
Categories
Car purchase loan

Eligibility or required documents

  • 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).
Categories
News

TRANSPORT AND DEVELOPMENT BANK INTRODUCED PAYMENT SERVICES THROUGH THE “WECHAT PAY” SYSTEM

 

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%.

Categories
Social Responsibility and Sustainable Development

TRANSBANK JOINED THE GREEN INVESTMENT PRINCIPLES (GIP) FOR THE BELT AND ROAD INITIATIVE

TRANSBANK JOINED THE GREEN INVESTMENT PRINCIPLES (GIP) FOR THE BELT AND ROAD INITIATIVE

Green Investment Principles (GIP) is a set of principles for greening investment, projects and infrastructure operations in the Belt and Road. It was co-initiated by the “Green Finance Committee of China Society for Finance and Banking” and the “City of London Corporation’s Green Finance Initiative”, with the participation of other institutions. As of March 15, 41 global institutions from 16 countries and regions have joined as signatories to GIP for the Belt and Road.

The GIP is a major initiative to signatories to share experiences on sustainability transition and develop impact projects and investments in environmentally friendly and climate resilient manner. The GIP signatories are expected to incorporate the principles into their corporate strategy and decision-making processes and are invited to report regularly on their performance to the GIP Secretariat.

The GIP includes 7 principles at 3 levels of Strategy, Operations, and Innovation:

Principle 1: Embedding sustainability into corporate governance

Principle 2: Understanding Environmental, Social, and Governance Risks

Principle 3: Disclosing environmental information

Principle 4: Enhancing communication with stakeholders

Principle 5: Utilizing green financial instruments

Principle 6: Adopting green supply chain management

TransBank has been systematically conducting Environmental and Social (E&S) risk assessments on its loan processes in accordance with the Bank’s E&S policy and E&S risk assessment on loan operations policies. With this said, we are pleased to share that TransBank received a score of “B+” on ‘ToC Implementation Assessment 2021’ initiated by the Mongolian Sustainable Finance Association (MSFA), Bank of Mongolia (BoM) and International Finance Corporation (IFC) further improving our previous score.

#GreenInvestmentPrinciples

#TransBank

Categories
Regular term deposit

Fees and charges

Other current and saving account fees

Categories
External audit report

2021

Categories
External audit report

2020

Categories
Annual report

2019

Categories
Annual report

2018