Auto leasing

2019-02-18More »


Purpose of the loan

Loan for individuals to buy vehicle


  • Low interest
  • No loan service fees
  • Collateral is not required /in the case of confirmed income/ 

Loan terms:

Loan amount

Up to MNT 120,000,000

Down payment

Over 30%

Loan interest (monthly)


(If purchases vehicle from its partnering companies- 1.5%*)

Loan interest (yearly)

21.6% (18.0%*)

Loan term

Up to 36 months

Car aging

Less than 10 years

True cost of loan (monthly)

1.89% /1.58%*/

True cost of loan (yearly)

22.70% /18.93%*/

*Partnering companies: Subaru Mongolia LLC, Monnis Motors LLC, Munkhkhada LLC, Tavanbogd LLC

Requirements for vehicle to be purchased:

  • Used car;
  • Vehicle must be less than 10 years old;
  • Vehicle must be under Class B;
  • Vehicle must be on name of dealer(seller);
  • All customs duties must be paid.

Requirements for borrower and co-borrower:

  • Must be a Mongolian citizen having full legal and financial capabilities;
  • Co-borrower must be a family member (spouse, parents, brothers, sisters, grandparents or children);
  • Must have been employed in the same organization for at least 12 months;
  • For self-employed individuals, must be regularly and successfully operating business activities continuously for a minimum of 2 years;
  • Must not have any loan default records or bad credit histories from other banks and non-banking financial institutions regarding debts payable.

Requirements for financial responsibility of borrower and co-borrower:

  • Must have regular income (salary or business income);
  • Sum of monthly repayments (principal and interest) must not exceed 40-50% of monthly net income;
  • Regular income (salary or business income) must be confirmed by social insurance book or bank statement.

Requirements for the collateral:

  • Automobile– if pledges the vehicle purchased to bank, that vehicle must be subject to automobile liability insurance and driver’s liability insurance.
  • Concern- Must pledge immovable properties (apartment, parking lot, garage) located in Ulaanbaatar;
  • Must not pledge private homes and lands (with houses);
  • Value of the collateral must be two times higher than the sum of principal and interest payable during term of the Loan Agreement and its ownership title must be vested in the borrower and co-borrower;
  • The collateral must be free from any encumbrances including secured payment obligation, pledge or guarantee.


Borrower and co-borrower must collect and submit the following documents to credit officer of the bank:

  • Loan application;
  • ID card;
  • Application (use bank template);
  • Reference of residence;
  • Invoice of vehicle bought, copy of customs declaration, advance payment receipt, complete vehicle information;
  • If salaried employee, last 12 month’s salary reference, employment agreement, original social insurance book and social insurance premium payment reference;
  • If self-employed, documents confirmed last 12 months’ income sources (license, permit, financial document, debt list or contract related to business operation, taxpayer’s book, pension book etc.); 
  • Bank statements;
  • Original Concernownership certificate;
  • Reference of property ownership right certificate;
  • Notarized consent approving to pledge the collateral or co-borrower’s collateral;
  • Loan agreement, pledge agreement, repayment schedule and reference on outstanding loan amount, if got loan from other banks;
  • Other documents and materials required by the bank during eligibility investigation.

Further information is available at:, Telephone: 94100500.94100600.94100700. 319038 (120, 121, 123, 124, 125).



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