Author: Batorgil E

Categories
Electric Car loan

Terms and conditions

Conditions

New electric car

Loan amount
be not used

up to 300,000,000 MNT

Loan terms

 up to 48 months
Loan interest /month/

1.4% – 1.6%

Loan interest /annual/

 16.8% – 19.2%
Service fee

1% of the loan amount or the maximum amount is 1,500,000 MNT

Increased interest

 The increased interest rate is equal to 20% of the principal interest rate
Collateral

Car to buy

Fees from suppliers

 1% or regulated by the “Cooperation Agreement”
Benefits of Changes to the Original Loan Term

Loan balance up to 1% /Maximum amount 1,000,000/

Advance payment

 30%
Car seller

Official Representative and Supplier Organization

Application Fee

 10,000 MNT
Loan purposes

All types of electric motors include seat cars and rough road cars

Actual cost /annual/: 17.1%-19.5%

Categories
Electric Car loan

Requirements

  • Last 12 months continuous business experience;
  • Good credit history;
  • Other requirements set by the bank;
Categories
Electric Car loan

Required documents

  • Loan application letter;
  • A copy of the certificate and charter must be certified by a notary;
  • Certificate of collateral and related documents;
  • Description of the place of residence;
    Other materials necessary by the Bank;
Categories
Electric car loan

Benefits

  • No additional collateral is required.
  • It will be resolved quickly and in a short period of time.
  • Lowest interest rates.
Categories
Electric car loan

Terms and conditions

Conditions

New electric car

Loan amount
be not used

up to 300,000,000 MNT

Loan terms

 up to 30 months
Loan interest /month/

1.4% – 1.6%

Loan interest /annual/

 16.8% – 19.2%
Service fee

1% of the loan amount or the maximum amount is 1,500,000 MNT

Increased interest

 The increased interest rate is equal to 20% of the principal interest rate
Collateral

Car to buy

Fees from suppliers

 1% or regulated by the “Cooperation Agreement”
Benefits of Changes to the Original Loan Term

Loan balance up to 1% /Maximum amount 1,000,000/

Advance payment

 30%
Car seller

Official Representative and Supplier Organization

Application Fee

 10,000 MNT
Loan purposes

All types of electric motors include seat cars and rough road cars

Actual cost /annual/: 17.2%-19.6%

Categories
Electric car loan

Requirements

  • Have been with the organization for at least 6 months or have been in stable business for at least 1 year;
  • Up to 55 percent of after-tax income must be sufficient to cover the total monthly interest payments;
  • Other banks and financial institutions have no overdue or poor quality loan balances;
Categories
Electric car loan

Eligibility or required documents

  • Application, resume /bank model/, identity card
  • Description of the place of residence
  • Required documents and bank statements to prove salary or business income
  • Certificate of collateral and related documents
  • Other materials necessary by the Bank
Categories
Other current account fees

Notes

– Small bills include 1, 2, 5, and 10 bills for USD, 5, 10 bills for EUR, 1, 5, 10, and 20 bills for CNY, and for RUB 10, 50, and 100 bills apply respectively.

Categories
Other current account fees

Other fees

Service  MNT USD EUR CNY JPY RUB KRW GBP
Cash debit Minor Bills* – 2.0% 2.0% 2.0% 0.3% 8.0% 1.5% –
Other bills – – – – 0.3% 5.0% –
Cash withdrawal Current and savings accounts

 

 200 MNT 200 coins + cash exchange rates listed below
0.5% 0.5% 0.5% 0.5% 3.0% 1.5% 0.5%
Transfer Transfer within the bank 100 MNT Currency equivalent to 200 MNT
Transfer between banks:
Up to 5,000,000₮ 200 MNT 1,500 MNT
Over 5,000,001₮ 500 MNT
Transfer between banks by ordering cash 1,000 MNT
Opening an Account Free
Accounts Payable Fees Active account /monthly/ Free
Temporarily inactive and suspended accounts /monthly/ 2,000 MNT Currency equivalent to 2,000 MNT
Close the account 5,000 MNT Currency equivalent to 5,000 MNT
Categories
Increasing profitable savings

Benefits

  • Deposit transactions are allowed anytime;
  • The longer the savings period, the higher the interest rate on the balance;
  • Earn your interest on every 6 months;