Automatic Loan
Automatic Loan is a credit line with favorable terms offered to the banks prime micro and agricultural loan borrowers with excellent credit histories for loans previously borrowed from the Bank. The borrower can – within certain limits – have two credits outstanding at the same time. The loan is entirely aimed at offering good service.
Main Features:
- Accessed by best performing borrowers
- Finances working capital, operational expense and asset acquisition.
- Minimum loan amount is UShs. 100,000/=
- Maximum loan amount is UShs 15million
- Borrower is free to set the repayment mode to his/her preferences
- Loan period of up to 12 months.
Basic Requirements:
- Centenary Bank Savings or Current account
- Excellent credit history with the bank.
- Accumulated credit history of not less than 8 months with good credit rating in at least 3 past paid off loans.
- Borrower must not have more than two outstanding credits at the time of application
- Application fee of UShs. 5,000/=.
Benefits:
- Instant processing.
- 2 outstanding loans at the same time
- Attractive interest charged.
- Loan repayment mode fits the borrower's preference