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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 service designed for clients who value environmentally friendly and eco-conscious consumption.
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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
- Last 12 months continuous business experience;
- Good credit history;
- Other requirements set by the bank;
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Required documents
- Loan application letter;
- A copy of the certificate and charter must be certified by a notary;
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Certificate of collateral and related documents;
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Description of the place of residence;Other materials necessary by the Bank;