finpro

Secured truck/heavy equipment loan

CONDITIONS	Loan amount	1,000,000 MNT – 50,000,000 MNT
	Monthly interest rate	3.5% – 4%
	Collateral	Truck/heavy equipment (if necessary, additional collateral is required)
	Loan term	6 to 24 months
	Down payment	30% of the purchase price or more
	Insurance	Compulsory liability insurance for Drivers Commercial truck insurance
	Assessment and approval	Within 1 hour
	Loan fee	0.5% of the amount
REQUIREMENTS	– Large trucks and heavy equipments
SUPPORTING DOCUMENTS	– Income statements (bank statements) – Vehicle statement of ownership, customs import documents, vehicle sale agreement

*Please note that repeated late payments will result in your credit score drop.

Secured car loan

CONDITIONS	Loan amount	1,000,000 MNT – 20,000,000 MNT
	Monthly interest rate	3.5%-4%
	Collateral	Car (if necessary, additional collateral is required)
	Loan term	6 to 24 months
	Down payment	30% of the purchase price or more
	Insurance	Compulsory liability insurance for Drivers Vehicle insurance
	Assessment and approval	Within 1 hour
	Loan fee	0.5% of the amount
REQUIREMENTS	– Cars and small trucks
SUPPORTING DOCUMENTS	– Income statements (bank statements) – Vehicle statement of ownership, customs import documents, vehicle sale agreement

Using your apartment as collateral

CONDITIONS	Loan amount	1,500,000 MNT – 30,000,000 MNT
	Monthly interest rate	3.5% – 4%
	Collateral	Apartment
	Loan term	6 to 24 months
	Assessment and approval	Within 1 business day
	Loan fee	0.5% of the amount
REQUIREMENTS	– Deed of Gift is not accepted.
SUPPORTING DOCUMENTS	– Income statements (bank statements, tenancy agreements and other supporting documents) – Certificate of Title

Our tip:

Make sure to check how much the loan fee is and how much you have to pay every month before getting the loan.

Using your private house as collateral

CONDITIONS	Loan amount	1,500,000 MNT – 10,000,000 MNT
	Monthly interest rate	3.5%-4%
	Collateral	Private house and land
	Loan term	6 to 24 months
	Assessment and approval	Within 1 business day
	Loan fee	0.5% of the amount
REQUIREMENTS	– Deed of Gift is not accepted.
SUPPORTING DOCUMENTS	– Income statements (bank statements, tenancy agreements and other supporting documents) – Certificate of Title