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Customer application form /download here/
- For Mongolian citizens: Citizens ID card;
- For Foreign citizens: Passport and Certificate of Alien Registration
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Category: Citizens
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No additional collateral is required
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It will be resolved quickly and in a short period of time.
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Terms and conditions
| Car loans | Auto loan | Auto Loan (Partnership terms with Monkhada LLC) | |
| Loan amount | The amount shall not exceed the total purchase price of the vehicle | ||
| Terms | Up to 96 months | ||
| Loan interest /month/ | 1.7% – 2.1% | 1.8% | |
| Loan interest /annual/ | 20.4% – 25.2% | 21.6% | |
| Service Fees | 1.0% | 0.4% of the disbursed loan amount, capped at MNT 400,000 | |
| Increased interest | The increased interest rate is equal to 20% of the principal interest rate | ||
| Collateral | Purchased vehicle | ||
| Down payment | 10%-30% | ||
| Supplier’s Fee | 1.0% | ||
| 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 | ||
Actual cost /annual/: 21.26%-26.08%
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Requirements
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Have been with the organization for at least 6 months or have been in stable business for at least 1 year;
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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;
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Eligibility or required documents
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Application, resume /bank model/, 1 copy of photo, identity card
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Residence reference (issued by local authority)
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Required documents and bank statements to prove salary or business income
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Certificate of collateral and related documents
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Other materials necessary by the Bank
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Benefits
- Competitive interest rates;
- No restrictions for deposit transactions;
- Use as collateral for deposit collateralized loans with a low interest rate;
- Access and manage your account by using our online banking service
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Terms and conditions
Terms |
MNT |
USD |
EUR |
CNY |
JPY |
|
Duration |
Annual interest rate |
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1 month |
up to 10.50% |
2.20% |
1.20% |
1.20% |
1.20% |
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2 months |
up to 10.50% |
2.50% |
1.20% |
1.20% |
1.20% |
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3 – 6 months |
11.0% |
4.0% |
3.60% |
4.0% |
3.30% |
|
7 – 9 months |
11.50% |
4.0% |
3.60% |
4.0% |
3.30% |
|
10 – 11 months |
12.0% |
4.0% |
3.60% |
4.0% |
3.30% |
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12 months |
Nominal interest rate |
14.0% |
4.0% |
3.60% |
4.0% |
3.30% |
Effective interest rate |
14.75% |
4.06% |
3.65% |
4.06% |
3.34% |
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13 – 18 months |
Nominal interest rate |
14.0% |
5.0% |
3.60% |
4.0% |
3.30% |
Effective interest rate |
14.75% |
5.09% |
3.65% |
4.06% |
3.34% |
|
19 – 24 months |
Nominal interest rate |
14.0% |
5.50% |
– |
– |
– |
Effective interest rate |
14.75% |
5.61% |
– |
– |
– |
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Early termination interest rate |
2.4% |
0.6% |
0.6% |
0.6% |
0.6% |
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Minimum balance requirement |
10,000 MNT |
10 USD |
10 EUR |
100 CNY |
1,000 JPY |
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Interest payment conditions |
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Withdrawal conditions |
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- Dear Customer, by depositing the interest you received into your savings account on the same day, you will have the opportunity to earn a return based on the “Effective Interest Rate”. If the interest is not re-deposited into your savings account, your returns will be calculated based on the Nominal Interest Rate.
- For clients with a stable financial relationship or of strategic importance, the interest rate and other terms of the deposit may be adjusted with the approval of the CEO
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Other fees
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Customer application form; /download here/
- For Mongolian citizens: Citizen’s ID card;
- For Foreign citizens: Passport and Residence permit in Mongolia;
We provide a comprehensive suite of financial solutions to fulfill the financial aspirations of our customers.