| Car loans |
New cars |
| Loan amount |
The amount shall not exceed the total purchase price of the vehicle |
| Terms |
Up to 96 months |
| Loan interest /month/ |
1.6% – 2.0% |
| Loan interest /annual/ |
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 |
Purchased vehicle |
| Down payment |
10%-30% |
| Supplier’s Fee |
1% (subject to 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 |
Actual cost /annual/: 19.6%-24.4%