|
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%