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Automobile purchase loan


loan size

Up to 200 million MNT and more


interest rate

Monthly rate: 1.3% - 1.6%

Annual rate: 15.6% - 19.2%


Loan calculator

The loan is deducted from the salary each month with interest.

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Frequently asked question

Click here to see frequently asked questions.

Automobile purchase loan

You can purchase brand new automobiles with 0 speedometer and second-hand automobiles and automobiles used in foreign countries or used in Mongolia through Automobile Purchase Loan from XacBank

Advantages

  • Loan applications are processed promptly in shortest time;
  • No additional collateral is needed;
  • Get lowest loan rates on Second-hand hybrid or electronic engine automobile purchase loan if automobiles are reducing GHG emissions by at least 20% comparing to regular engine automobiles, used in foreign countries, manufactured since 2008;
  • 100% financing is granted if you could offer real estate collateral for down payment;

Loan terms:

condition
New
used
used car with mongolian plate number***
Currency
MNT
MNT
MNT
Amount
200 million MNT
150 million MNT
100 million MNT
Down payment
10% up to  50 million MNT
15%30%
20% more than 50 million MNT
Loan term (by month)
Up to 60 monthsUp to 60 months
Up to 30 months
Interest rate
Monthly
1.3%1.5%1.6%
Annual
15.6%18.0%19.2%
Effective percentage rate /annual/
16.1%18.5%20.1%

*Personal
**Business
***Land Cruiser 200 models are eligible for all branches and Prius 20 or models afterwards are to be financed by the following XacBank branches: Tsaiz, 10th Microdistrict , Songinohairhan, Enkhtaivanii Guur, Tavan shar branches.

Requirements:

  • Have a stable employment for at least 6 months;
  • Run stable business activities for at least 6 months;
  • Select a automobile from a contracted supplier with XacBank;

Required documents:

  • Loan application form (request from XacBank branch offices or download here);
  • ID card and its copy;
  • 3x4 sized photo;
  • Social Insurance Book, its copy (no need for notary);
  • Salary reference (request from XacBank branch offices or download here);
  • Salary reference for other members of the family (if necessary);
  • Business related documents for business entrepreneurs;
  • Invoice for the automobile to purchase;
  • Other.

Car loan

Can I use property collateral as a down payment?

Yes /except cars with vehicle registration plates of Mongolia/

Is loan interest rate lowers if I pay higher down payment?

Yes /except cars with vehicle registration plates of Mongolia/.

Click here to see other FAQs