Group Business
Lending
Group-based borrowing built on Village Banking and mutual guarantee — accessible financing for members borrowing together.
Lending is subject to approval. Fees and charges are reviewed annually. Ts&Cs apply.
Key Features & Benefits
- Registered Properties or unregistered properties (Residential or Commercial buildings) with proof of ownership
- Motor vehicles, Business assets, Electronics household chattels, Fixed term/deposits contracts, Shares, Treasury bills, Insurance policies, Personal guarantees
- Registration of the equipment financed under the Personal Property Security Registry (PPSR) to the full value of the equipment - where applicable
Transparent pricing
Rates & Charges
| Detail | Information |
|---|---|
| Term | 3 - 12 months |
| Amount | K100,000 - K500,000 |
| Interest Rate | 5% per month on a reducing balance |
Am I eligible?
Eligibility
- Members in a group which is between 7 and 10 members in urban areas and up to 15 members in rural and peri-urban areas
Requirements
- Members must pay Loan Security Savings and Loan Processing Fees prior to the disbursement of the loan
- Payments are monthly
- Payments for loans to be brought to the bank by at least two members of the group
- The tenor for group loans is between 3 months and 12 months
- Clients are allowed to pay off their loans only after 3 months from the time of disbursement
- Loans are not to be used for gambling, illicit drugs or liquor production
Locate a Branch
Find your preferred Branch easily. Just enter your location and we will show you the nearest outlet!
Plan your repayments
Loan Calculator
/-
Min 100,000 · Max 500,000
%
Indicative; the actual rate depends on your credit assessment.
Min 3 mo · Max 12 mo
Total Payment
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- Total Interest Payable
- 35,390
- Monthly Installment
- 11,283
- Term
- 12 months
Illustration only. Actual repayments depend on credit assessment, fees, and prevailing rates. Subject to Centenary Bank Terms & Conditions.