The customer offers you a guaranteed term deposit that will pay you a high interest rate in a short period of time.
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The customer offers you a guaranteed term deposit that will pay you a high interest rate in a short period of time.
Incentive savings of 6 months | deposit terms |
Tenors | 6 months |
Currency | MNT |
Annual interest rates | 14.0% |
Interest rate upon early termination of contract /annual/ | 2.4%-4.8% |
Minimum deposit requirement | 10,000 MNT |
Interest rate payments | At maturity date |
Earning conditions | Possible |
Withdrawal condition | Monthly |
A risk-free savings account that will increase your savings for a certain fixed period, at high interest rate.
Terms | MNT | USD |
Tenors | Annual interest rates | |
6 months | 11.00% | 4.00% |
12 months | 14.00% | 4.00% |
Interest rate upon early termination of contract /annual/ | 2.40% | 1.20% |
Minimum deposit requirement | 10,000 MNT | 10 USD |
Interest rate payments | At maturity date | |
Withdrawal condition | At maturity date |
We offer a loan product for environmentally friendly electric passenger cars and off-road vehicles, catering to customers seeking personal transportation solutions.
Electric Vehicle loan | New vehicle | Used vehicle |
Loan amount | New vehicle | Used for 10 years or less from the date of manufacture (vehicles with or without license plates) |
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 | Individual customers – Up to 30 months, | |
Corporate customers – Up to 48 months, | ||
Interest rate /monthly/ | 1.4% – 1.6% | |
Interest rate /annual/ | 16.8% – 19.2% | |
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% |
Both residential and commercial properties can serve as collateral, potentially reducing the collateral requirement to 0%. | ||
Bank fee from vehicle supplier | 1% of the loan amount and it’s regulated through “Contractual agreement” | |
Loan application | MNT 10,000 | |
Car dealership | Official distributing company and supplier | |
Credit recording enquiry fee /during loan analysis procedure/ | Individual – MNT 1,000
Corporate – MNT 1,000 |