Category: Car loan

A loan service that allows you to get the car you want with a specific down payment and financed by a bank.

Categories
Car loan

Benefits

  • No additional collateral is required
  • It will be resolved quickly and in a short period of time.
Categories
Car loan

Terms and conditions

Car loans New cars Used cars
Loan amount

 

 Up to 300 million MNT Up to 100 million MNT
The monthly loan payment is no more than 55% of the borrower’s debt-to-income ratio. If the borrower has loans to other banks, NBCs, industrial units, or individuals, the monthly payments made on that loan are included in the debt-to-income ratio.
Terms Up to 30 months
Loan interest /month/ 1.6% – 2.0%
Loan interest /annaul/ 19.2% – 24.0%
Service Fees 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 Cars to buy
Advance payment up to 10% up to 30%
Fees from suppliers 1% or regulated by the “Cooperation Agreement”.
Application Fee 10,000 MNT
Benefits of Changes to the Original Loan Term Loan balance up to 1% /Maximum amount 1,000,000/
Other It is required to purchase cars from the supplier organization with which the “Cooperation Agreement” has been concluded.
Credit database reference fee Citizen – 1,000 MNT

Organization – 1,000 MNT
Categories
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
Car loan

Eligibility or required documents

  • Application, resume /bank model/, 1 copy of photo, 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