Centenary Bank Uganda offers CenteLand,which is a loan speciafiaclly for people who want to purchase land of up to Ush 30 million.The loan can be helpful especially when you have little cash but the desire for the land is high.
Loan designed specifically for the purpose of financing land purchase , survey and registration. The loan is targeted at micro and retail customers. Survey and registration of the land is undertaken by the Bank’s accredited land surveyors who guarantee delivery of the land registration certificate to the Bank
Main features:
- Maximum loan of Ushs 30M
• Minimum loan period of 3 months up to a maximum of 36 months
• Interest rate charged on declining balance
• Insurance premium of 0.45% of the loan amount
• Application fee of shs15,000
• Acceptance commission of 2%
• Flexible grace period if needed
• Registered mortgage on the land being bought / registered and any other acceptable collateral
Basic Requirements::
- Centenary Bank Account.
- Completed loan application form
- Payment of loan processing fee
- Financial card
- Verifiable source of regular and reliable income to service loan
- Land collateral as primary security
- Loan security margin of 125%
- Good credit record for applicants with borrowing history
- Borrower’s cash contribution of 10% of the total cost of the project
- Land evaluation report
Benefits:
- Fast and easiest way to register your land
- Attractive interest
- Flexible payment plan
- Multiple disbursements offered to accommodate different stages in the land registration process