Group Agriculture Microloans
(Tilime Gulu)
Group microloans for smallholder farmers and cooperatives — promoting Climate-Smart Agriculture, savings and value-chain growth.
Lending is subject to approval. Fees and charges are reviewed annually. Ts&Cs apply.
Insurance cover included
Key Features & Benefits
- Convenient repayment plan, structured in line with your cash flow - Annual, Bi-annual, Quarterly and Monthly
- Grace periods are offered based on loan purpose and upon approval of the Credit Committee
- Accommodates payments from other sources of income
- Competitive pricing
- Insurance cover on loan in case the client dies
Transparent pricing
Rates & Charges
| Detail | Information |
|---|---|
| Term | 3-12 months (new); 24 months (re-loans) |
| Amount | K300,000 - K20,000,000 |
| Interest Rate | 5% per month on a reducing balance |
| Insurance | Credit Life Insurance is mandatory |
Am I eligible?
Eligibility
- Minimum of 4 and Maximum 20 members per group
Requirements
- Citizen of Malawi with a valid National ID card
- Individual clients and individual members in a group should have his/her own or rented land with provable information in case of production financing
- The group should have a strong governance structure, good at record keeping with a minimum of 12 months of existence
- Club/Cooperative CenteSave Savings account or willing to open one
- Group constitution and resolution/letter to borrow
- Upfront Payment of all required LSS, fees and charges
- Mutual Guarantees by members
- Individual members in a group to have or open a Centenary bank account
- Applicants must be residents within the branch-designated area
- Consent from spouse/guardian for each individual in a group
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 300,000 · Max 20,000,000
%
Indicative; the actual rate depends on your credit assessment.
Min 3 mo · Max 24 mo
Total Payment
012345678901234567890123456789,012345678901234567890123456789 /-
- Total Interest Payable
- 106,171
- Monthly Installment
- 33,848
- Term
- 12 months
Illustration only. Actual repayments depend on credit assessment, fees, and prevailing rates. Subject to Centenary Bank Terms & Conditions.