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No additional collateral is required.
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Fast and efficient loan approval.
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Low interest rates.
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Category: Green loan – Electric car
An electric vehicle loan designed for environmentally conscious customers who value eco-friendly living.
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Terms and conditions
| Conditions |
New electric car |
| Loan amount |
The amount shall not exceed the total purchase price of the vehicle |
| Loan terms |
up to 96 months |
| Loan interest /month/ |
1.4% – 2.0% |
| Loan interest /annual/ |
16.8% – 24.0% |
| 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 |
The purchased vehicle |
| Supplier’s fee |
1%, regulated under the Cooperation Agreement |
| Benefits of Changes to the Original Loan Term |
Loan balance up to 1% /Maximum amount 1,000,000/ |
| Advance payment |
10% – 30% |
| Car seller |
Official Representative and Supplier Organization |
| Application Fee |
10,000 MNT |
| Loan purposes |
All types of passenger and SUV electric vehicles |
Actual cost /annual/: 17.2%-24.9%
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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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Loan application form (bank template), ID card
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Description of the place of residence
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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