Type search keyword

Automobile purchase loan


loan size

Up to 200 million MNT and more


interest rate

Monthly rate: 1.40% - 1.80%

Annual rate: 16.80% - 21.60%


Loan calculator

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

?

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

Eco automobiles include the following models of cars that will be financed with 1.6% per month:

  1. Тoyota Prius 20, 30, 40, Aqua, C
  2. Toyota Sai Hybrid
  3. Honda Insight hybrid (model years later than 2010)
  4. Toyota Camry/Aurion Hybrid
  5. Toyota Rav4 Hybrid
  6. Toyota Vanguard Hybrid
  7. Toyota Harrier Hybrid
  8. Lexus RX 450 Hybrid
  9. Toyota Kluger Hybrid
  10. Toyota Highlander Hybrid

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%
20%
30%
20% more than 40 million MNT
Loan term (by month)
12
24
30*
60**
12
24
30*
60**
12
24
30
Interest rate
Monthly
1.40%
1.50%
1.60%
1.70%
1.50%
1.60%
1.70%
1.80%
1.60%
1.70%
1.80%
Eco car: MNT 1.6%, USD 0.96%
Annual
16.80%
18.00%
19.20%
20.40%
18.00%
19.20%
20.40%
21.60%
19.20%
20.40%
21.60%
Eco car:MNT 16.8%, USD 11.52%
Effective percentage rate /annual/
17.26%
18.47%
19.67%
20.88%
18.47%
19.67%
20.88%
22.08%
19.67%
20.88%
22.08%
Eco car: MNT 17.26%, USD 11.96%

*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