Below is a list of loans offered by Centenary Bank,loan application requirements and interest rates:

Housing Loans

Cente Home Loan

Product Features

• Minimum loan amount of UGX 100,000 and Maximum of UGX 30 million
• Regular and flexible loan repayment plans
• Maximum loan period of up to 36 months (3 years)
• Interest charged on declining balance

Benefits

• Attractive interest rates
• Fast and easiest way to improve homes
• Improves living conditions of customers

Requirements

• Applicant must have a home to improve
• Security for the loan
• Hold a Current or Savings Centenary Bank account
• Completed loan application form
• Payment of loan processing fees
• Financial card
• Applicant must possess a source of income for servicing loan instalments
• Applicant must be resident in the branch’s designated area of operation

Cente Home Improvement Loan

Product Features

• Minimum loan amount of UGX 100,000 and Maximum of UGX 30 million
• Regular and flexible loan repayment plans
• Maximum loan period of up to 36 months (3 years)
• Interest charged on declining balance

Benefits

• Attractive interest rates
• Fast and easiest way to improve homes
• Improves living conditions of customers

Requirements

• Applicant must have a home to improve
• Security for the loan
• Hold a Current or Savings Centenary Bank account
• Completed loan application form
• Payment of loan processing fees
• Financial card
• Applicant must possess a source of income for servicing loan instalments
• Applicant must be resident in the branch’s designated area of operation

Cente Mortgage Loan

Product Features

• Minimum loan amount of UGX 20 million and maximum UGX 300 million
• Maximum period of up to 10 years
• Interest charged on reducing balance Basis
• Grace period of up to 6 months
• Repayment plan aligned to cash flow of the borrower

Benefits

• Short and straight forward processing within seven working days
• Comparatively low interest
• No monitoring fees charged
• Long loan periods of up to 10 years
• Flexible repayment plan
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Requirements

• Hold a Current or Savings Centenary Bank account
• Completed mortgage application form
• Payment of mortgage processing fees
• Financial card
• Residence within the bank’s area of operation
• Eligible adult should not be more than 55 years at the time of application
• Existence of verifiable source(s) of income
• Borrower’s contribution of at least 30% of the total housing project cost
• Proof of property ownership – genuine land title or copy of certificate of title for the property to be purchased or developed
• Valid identity documents
• Most recent passport photos (2)
• Bill of Quantities (BOQ) for the house in the case of construction
• Approved architectural design for the house in case of construction
• Loan to value ratio of at most 80%.
• Applicant must be a resident within the Branch’s designated area of operation
• Eligible property – single family and multi-unit homes

CenteHome Loan

Product Features

• Loan amount: Up to UShs. 50 million.
• Repayment period: Maximum of 60 months.
• Repayment can be monthly, termly, or quarterly, depending on your cash flow streams.
• Insurance premium of 0.45% of the loan amount.
• Application fee of UShs. 20,000.
• Processing fees of 2% one off.
• Flexible grace period where applicable.
• Customer contribution: At least 20% of the amount applied for. This can be in form of materials like bricks, stones etc.

Benefits

• No monitoring fees.
• Flexible payment plan.
• Helps clients to own a descent home.

Requirements

• A bank account with Centenary Bank.
• National ID.
• Security: Land to be developed (Kibanja or with title).
• House implementation plan.
• Completed loan application form
• Applicant must be resident in the branch designated area of operation.
• Verifiable source of regular and reliable income(s) to service loan
• Loan Security margin (LSM) of 125%·

CenteHome Improvement Loan

Product Features

• Minimum Loan Amount of UShs. 100,000.
• Maximum Loan Amount of UShs. 50 million.
• Repayment can be monthly, termly, or quarterly, depending on your cash flow streams.
• Maximum Loan period of up to 60 months (5 years).
• Insurance premium of 0.45% of the loan amount.
• Application fee of UShs. 20,000.
• Processing fees of 2% one off.
• Flexible grace period where applicable.
• Customer contribution: At least 20% of the amount applied for. This can be in form of materials like bricks, stones etc

Benefits

• No monitoring fees.
• Attractive interest.
• Fast and easiest way to improve homes.
• Improves living conditions of customers.

Requirements

• Applicant must have a home to improve.
• Security for the loan.
• Current or Savings Bank account.
• Completed loan application form.
• Payment of loan processing fees.
• National ID.
• Applicant must possess a source of income for servicing loan instalments.
• Applicant must be resident in the branch designated area of operation.

CenteLand Loan

Product Features

• Loan amount: Up to UShs. 50 million.
• Minimum loan period of 3 months up to a maximum of 60 months.
• Repayment can be monthly, termly, or quarterly, depending on your cash flow streams.
• Insurance premium of 0.45% of the loan amount.
• Application fee of UShs. 20,000.
• Processing fees of 2% one off
• Flexible grace period where applicable.
• Customer contribution: At least 10% of the amount applied for.
• Registered mortgage on the land being bought/ registered and any other acceptable collateral.

Benefits

• No monitoring fees.
• Attractive interest.
• Flexible payment plan.
• Helps clients to acquire or formalize their ownership of land.

Requirements

• A bank account with Centenary Bank.
• Completed loan application form
• Payment of loan processing fee.
• National ID.
• Applicant must be resident in the branch designated area of operation.
• Verifiable source of regular and reliable income(s) to service loan
• Security: Land collateral as primary security or combination of securities.
• Loan Security margin (LSM) of 125%·
• Good credit record for applicants with borrowing history.
• Verifiable source of regular and reliable income(s) to service loan.
• Mandatory contribution of 10% of the total cost of the project·
• Land evaluation report.

Energy Loans

Cente Solar Loan

Product Features

• Minimum loan amount UGX 100,000 and maximum UGX 20 million
• Minimum loan period of 6 months and a maximum of 24months
• Loan amount shall not exceed 70% of the purchase/installation price of the solar equipment.
• Interest charged on reducing balance basis
• Flexible and regular repayment frequency

Benefits

• Speedy processing (within 48 hours)
• Fairly low interest rates
• Flexible repayment plans based on borrower’s cash flow
• Loan period of up a maximum of 24 months
• Government Subsidy for clients located 100 meters or further away from grid

Requirements

• Current or Savings Bank account
• Completed loan application form
• Payment of loan processing fees
• Financial card
• Repeat borrowers who have promptly repaid 4 successive agricultural production loans
• Farmers area under cultivation or cropping has not changed
• Security acceptable such as mortgage including kibanja, chattels, crop insurance etc.
• Personal guarantee by two (2) Guarantors
• Letter of Continuing Security in case of loans secured by mortgage
• Loan request-cum-loan document link
• Loan officer visit prior loan disbursement at every cycle

Power Connection Loan

Product Features

• Minimum loan amount UGX 100,000 and maximum UGX 20 million
• Minimum loan period of 6 months and a maximum of 24months
• Loan amount shall not exceed 70% of the purchase/installation price of the solar equipment.
• Interest charged on reducing balance basis
• Flexible and regular repayment frequency

Benefits

• Speedy processing (within 48 hours)
• Fairly low interest rates
• Flexible repayment plans based on borrower’s cash flow
• Loan period of up a maximum of 24 months
• Government Subsidy for clients located 100 meters or further away from grid

Requirements

• Current or Savings Bank account
• Completed loan application form
• Payment of loan processing fees
• Financial card
• Repeat borrowers who have promptly repaid 4 successive agricultural production loans
• Farmers area under cultivation or cropping has not changed
• Security acceptable such as mortgage including kibanja, chattels, crop insurance etc.
• Personal guarantee by two (2) Guarantors
• Letter of Continuing Security in case of loans secured by mortgage
• Loan request-cum-loan document link
• Loan officer visit prior loan disbursement at every cycle

Development Loans

Salary Loan

Product Features

• Salary loans of up to UGX 500M
• A dedicated Relationship Manager
• Fixed interest rates
• Affordable loan processing fees
• Free financial education seminars
• Manageable repayment installments
• Flexible loan top up terms.

Benefits

• Loan repayment periods of up to 5 years and secured Salary loans up to 10 years
• Loan processed within 24 hours
• Friendly Interest rates charged on reducing balance
• Access to your account using your phone with CenteMobile
• Access to over 171 Centenary Bank ATMs, Visa enabled ATMs and interswitch banks
• SMS alerts on every transaction made on the account.

Requirements

• Current or Savings Bank account.
• Completed loan application form
• Income Earner (Salary Or Pension)
• To be a resident in the branch’s area of operation
• Undertaking from the employer to inform the bank on any changes to employment status
• Permanent employment for at least a year
• At least 2 salary payments made to the account
• A copy of the appointment letter

Cente Youth Loan

Product Features

• Interest charged on declining balance.
• Minimum amount of UShs 100,000.
• Maximum amount of 5,000,000 for individuals.
• Minimum loan amount of UShs 500,000 and maximum amount of 25,000,000 for companies and partnerships.
• Maximum loan period of 4 years for development and 2 years for working capital loans
• Repayment through regular and equal monthly, bi-monthly, quarterly or staggered instalments (including principal and interest) based on the nature of business and cash flow.
• Grace period maximum of one year applicable on a case-bycase basis.

Benefits

• Helps youth with capital to improve their businesses, thus creating employment.
• Less stringent terms and conditions than normal loans.
• Moderately low interest rate.
• Easy loan processing.

Requirements

• Current or Savings Bank account.
• Completed loan application form
• Payment of loan processing fees
• Trading license
• Existing enterprise, at least 3 months old.
• Must have or open an account with Centenary Bank.

 

CenteGreen Energy Loans

Product Features

• Minimum of UShs. 100,000 up to a maximum amount of UShs. 50 million.
• Application fee of 20,000.
• Processing fee of 2%.
• Fixed interest rate of 25% per annum charged on a declining balance.
• Customer contribution of 0 – 20% depending on the income source.

Benefits

• No monitoring fees.
• Attractive interest.
• Stoves save on firewood expenses.

Requirements

• Bank account in Centenary Bank.
• National ID.
• Affordability measure – facility installment plus other financial obligation not to exceed 50% of the net monthly income.
• Verifiable sources of income
• Security: Land, Personal guarantor’s chattels e.g., school equipment and machinery, H/H items, Motor vehicle or FDR can be taken as collateral
• An invoice or BOQ from reputable service provider (where applicable)
• Evidence of ownership/ authorization where stoves, biogas are to be installed, or trees planted.

SME Loans

Cente Micro Business Loan

Product Features

• Maximum loan amount of up to UShs 50 million.
• Flexible and regular repayment plans.
• Minimum loan amount of UShs 100,000.
• Minimum loan period of 3 months
• Interest charged on declining balance.
• Maximum loan period of 24 months

Benefits

• Fast and easiest way to access business funds.
• Affordable to most low-income earners and rural poor.
• Informal loan security accepted.
• Access to automatic loans.

Requirements

• Current or Savings Bank account.
• Payment of processing fee
• Applicant must be resident within the branch designated area of operation.
• Completed loan application form
• Inspection of collateral
• There must be an on-going business activity
• Payment Of Loan Processing Fees
• Security can be fixed and/ or movable assets
• Financial card
• Guarantees, personal or corporate

Savings Linked Loan

Product Features

• Interest rate on deposits as per the Banks Savings account regime
• Loan period of up to a maximum of 36 months
• Interest charged on declining balance as per reining interest regime
• Mode of loan repayments based on the nature of cash flow
• Loan amount of 2 to 3 times the amount of savings up to a maximum of UShs5 million

Benefits

• Save 25% of loan amount intended for a specific purpose
• Faster loan processing speed
• Attractive interest
• Grace periods offered on a case-by-case basis
• No penalty for early loan repayment
• Entire savings repaid with interest on maturity

Requirements

• Current or Savings Bank account
• Clients of consent age engaged in agriculture
• Completed loan application form
• Maintain regularity in saving UShs. 20,000 every month for a minimum of one year
• Payment of loan processing fees
• Security is hypothecation/mortgage of asset purchased and a lien on savings accumulated
• Financial card

Cente Lease

Product Features

• Minimum lease amount of UShs. 100,000
• Maximum lease period is 5 years
• Maximum lease maximum of UShs. 8 Billion (VAT inclusive).
• Flexible grace period where needed
• Interest rate charged on declining balance
• Secured on the leased item

Benefits

• The leased asset is our main security
• Attractive interest rate charged on declining balance.
• Grace periods offered on a case-by-case basis
• Flexible repayment period and pattern

Requirements

• Current or savings Bank.
• Valid identification of the leassee and the leased asset.
• Completed lease application form.
• Applicant resident within the branch’s designated area of operation.
• Financial Card.
• Possession of relevant business experience.
• Cash contribution for the asset/equipment purchase

Bank Overdraft

Product Features

• Minimum amount offered is UShs 100,000.
• Interest is linked to the bank’s prime lending rate and charged on declining balance.
• Facility period is up to a maximum of 12 months.
• Repayable through good account deposits.

Benefits

• Faster processing speed.
• Multiple disbursements allowed.
• Offers greater financial flexibility to the customer.

Requirements

• Current account with the bank.
• Financial Card.
• Completed Overdraft facility application form.
• Collateral for securing the loan.

Farm Equipment Lease

Product Features

• Loan period for working capital purpose is up to a maximum 24 months but development/investment may exceed 24 months.
• No principal loan repayments during the grace period except for the interest where cash flows allows.
• Repayable through equal installment payments whose amounts are dependent on the projected cash flow of the agricultural activity.
• Irregular payments can be structured basing on the cash flows.
• Interest charged on reducing balance.
• Minimum loan amount UShs. 100,000.
• Payments from other sources of income are allowed.
• Maximum loan amount of up to UShs 8 Billion.

Benefits

• Faster Loan processing speed.
• Attractive interest rate.
• Repayment plans structured to accommodate nature of cash flow.
• Grace periods are offered.
• Multiple disbursements offered to accommodate different stages of production cycle

Requirements

• Current or Savings Bank account.
• Completed loan application form.
• Payment of loan processing fee.
• Financial card.
• Project undertaken must be an activity in the agricultural value chain.
• Experience in project being undertaken.
• Business project must be profitable.
• Applicant must be resident within the branch designated area of operation.
• Applicant must be owner or tenant of the land on which he/she operates.
• Securities can be mortgaged on titled or unregistered land, moveable assets like cows, goats, sheep, mortgaged household property or business equipment and tools