Group Loan

This is a short term micro credit loan where small groups borrow collectively without collateral and group members encourage one another to repay.

Terms & conditions of loan

  • The loan is supported by a Group Mutual Guarantee (GMG), Loan Security Savings (LSS) and a Letter from the Chief.
  • Mandatory credit life insurance.
  • Maximum tenor is 12 months.
  • Base lending rate is 13.9%. Centenary Bank Limited’ maximum lending rate is 25.5%. The interest rate is however, subject to variation at the bank's options and shall be influenced by the economic situation prevailing in Malawi from time to time.
  • Enjoy a business boost with a generous maximum loan amount that can go up to MK100,000,000.

How to apply

  • Group's constitution.
  • Proof of Centenary Bank Ltd account details by each member of the group.
  • Proof of Loan security saving deposit and loan processing fee by each member of the group.
  • Clear group Photograph.
Enter Amount you would like to borrow for the Group Loan
MK 50k
MK 100MM
Borrowing MWK
Group Loan
Cost/Monthly Payment
MK 0

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