LOAN FOR PURCHASE OF VEHICLES, HEAVY MACHINERY AND MECHANISMS

General Requirements:

  • To have the management capacity and ability to use the loan in a profitable manner;
  • Have uninterrupted operation of the business in the last 12 months;
  • Have business profitability projection and calculation;
  • Have special permits and licences nesessary for business operation;
  • No past due or bad loans at other financial institutions.

Loan Terms and Conditions:

Loan amount

Up to 500 million MNT

Loan interest /annually/

MNT

USD

19.2% - 22.8%

13.2% - 18%

Loan interest /monthly/

1.6% - 1.9%

1.1% - 1.5%

Loan tenor

Up to 60 months

Advance payment

10% - 30% *

Collateral

Purchasing vehicles, heavy machinery and mechanisms / If necessary, additionally mortgage property/

Loan service fee

1% of total loan amount or not more than 2,900,000 MNT

Application fee

10,000 MNT

 

* New vehicles /Toyota, Lexus/ - 10%

Second hand vehicles /not obtained vehicles license plate/ - 20%

Second hand vehicles /obtained vehicles license plate / - 30%

Heavy machinery and mechanisms - 30%

Benefits:

  • No principal payment for the first 6 months of loan tenure.
  • Arig Bank's professional and experienced Care Advisors can give you an offer especially designed for you and your needs.
  • The loan approval will take 8 working hours.
  • You will not stand in long lines at Arig Bank, and our staff will greet and treat you like a guest to their home.

REQUIRED DOCUMENTATION:

  • Handwritten letter of Loan Request (with a photo taken within last 6);
  • Filled out Loan Application form from Arig Bank;
  • Notarized copy of Personal ID;
  • Document related to business; 
  • Proof of residency; 
  • Loan spending and profitability projection; 
  • Real estate Certificate (original copy), official inquiry on other loans; 
  • Other necessary documents for loan approval. 
FEATURED

REVELATION