- No requirement of additional collateral
- Prompt solution in short period of time.
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Categories
Terms and conditions
|
Car loan |
New Car | Used car |
|
Loan amount |
Up to MNT 300 million | Up to MNT 100 million |
| Loan term |
Up to 30 months |
|
|
Interest rate /monthly/ |
1.6% – 2.0% | |
| Interest rate /annual/ |
19.2% – 24.0% |
|
|
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% |
|
Bank fee from vehicle supplier |
1% of the loan amount and it’s regulated through “Contractual agreement” |
|
| Loan application fee |
MNT 10,000 |
|
|
Other |
The purchase must be made from suppliers in contractual agreement with Bank |
|
| Credit recording enquiry fee /during loan analysis procedure/ |
Individual – MNT 1,000 Corporate – MNT 1,000 |
|
* Effective percentage rate /annual/: 20.90%-25.75%
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Requirements
- The borrower must be employed by the employer for at least 6 months or have consistently run a business for at least 1 year;
- Up to 60% of after-tax income of the borrower must be sufficient for the monthly payment;
- The borrower must not have an outstanding or overdue loans at another bank or NBFI.
- Loan Application / Bank’s application /, 1 passport-sized photo, ID card and its copy;
- Statement of residence;
- Proof of income source documents and account statements;
- Related certificates for purchasing vehicle and invoice of purchasing vehicle from supplier;
- Other documents required by Bank (on a case by case basis).
Энгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламжЭнгийн хугацаатай хадгаламж
Transport and Development Bank (TransBank), the first commercial bank to introduce a world-class Private Banking service in Mongolia has been operating in the banking and financial sector for the past 25 years. The Bank has started a new page of its history in 2021 with the merger of TransBank with the Credit Bank.
Within the framework of its new strategic goals, TransBank was first to introduce Private Banking services in Mongolia and is delivering the Private Banking services to its customers in accordance with international standards. Following up on our success, we are happy to announce that TransBank in partnership with “KKTT” LLC, a subsidiary of Innovation Investment, has successfully received the authorization from TenPay to receive payments using the WeChat Pay system.
Our partnership is composed of 3 stages. The first stage is to receive payments by static, system-connected Dynamic, and Official Account Pay.
During the second stage or in the third quarter of 2022, Mongolian small and medium-sized enterprises and those that create economic value will be able to sell their products by placing them on their own online store on the Wechat application. The introduction of the payment system will not only increase the number of online trading channels between the two countries, but will also create a great opportunity for us to supply our products to the online shopping market and create major economic opportunities.
Lastly, in the third stage, we are working toward making it possible for Mongolian citizens to link their Mongolian payment cards to the WeChat payment network and be able to pay for products without any additional fees.
By registering to the WeChat Pay payment service, merchants can receive payments made through the WeChat Pay system within the same day, while also enjoying the lowers transaction fee of 2%.
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Шинийг эрэлхийлэгч
- Өөрчлөлт хөгжилд тэмүүлэгч, шинийг эрэлхийлэгч, бүтээлч сэтгэлгээтэй
- Өөрийгөө таних, хөгжүүлэхийн төлөө тасралтгүй суралцагч
- Зорилгоосоо няцдаггүй, сахилга баттай, манлайлагч
- Fair and apparent
- No personal judgement and not to be influenced by management or co-worker
- Announcement of open vacancies and provide the competion of the internal and external sources
- To provide an opportunity to express and introduce one’s
TRANSBANK JOINED THE GREEN INVESTMENT PRINCIPLES (GIP) FOR THE BELT AND ROAD INITIATIVE
Green Investment Principles (GIP) is a set of principles for greening investment, projects and infrastructure operations in the Belt and Road. It was co-initiated by the “Green Finance Committee of China Society for Finance and Banking” and the “City of London Corporation’s Green Finance Initiative”, with the participation of other institutions. As of March 15, 41 global institutions from 16 countries and regions have joined as signatories to GIP for the Belt and Road.
The GIP is a major initiative to signatories to share experiences on sustainability transition and develop impact projects and investments in environmentally friendly and climate resilient manner. The GIP signatories are expected to incorporate the principles into their corporate strategy and decision-making processes and are invited to report regularly on their performance to the GIP Secretariat.
The GIP includes 7 principles at 3 levels of Strategy, Operations, and Innovation:
Principle 1: Embedding sustainability into corporate governance
Principle 2: Understanding Environmental, Social, and Governance Risks
Principle 3: Disclosing environmental information
Principle 4: Enhancing communication with stakeholders
Principle 5: Utilizing green financial instruments
Principle 6: Adopting green supply chain management
TransBank has been systematically conducting Environmental and Social (E&S) risk assessments on its loan processes in accordance with the Bank’s E&S policy and E&S risk assessment on loan operations policies. With this said, we are pleased to share that TransBank received a score of “B+” on ‘ToC Implementation Assessment 2021’ initiated by the Mongolian Sustainable Finance Association (MSFA), Bank of Mongolia (BoM) and International Finance Corporation (IFC) further improving our previous score.
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2022.5
TransBank has rejoined the campaign to plant 50 million trees by the year 2030 within the framework of the “Billion Tree” National Movement.
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2022.5
The service of accepting payments through the “WECHAT PAY” system has been introduced in Mongolia for the first time.
Regularly attend internal trainings of the bank and trainings of domestic and foreign
The salary policy is flexible and competitive in a banking and financial sector depends on the job, position, level, experience and skills of our employees and we evaluate the employee’s performance fairly for the remuneration.
I would like to emphasize to that the efforts, cooperation and mutual trust of the entire banking community plays a key role in the success of our organization.