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