Small Agriculture Microloans
(Tilime Lite)
Microloans for individual smallholder farmers and agri-businesses across the agriculture value chain — flexible collateral and quick decisions.
Lending is subject to approval. Fees and charges are reviewed annually. Ts&Cs apply.
Insurance cover included
Key Features & Benefits
- Flexible collateral requirement
- Insurance cover on loan in case the client dies
- Additional working capital to boost one's business and expansion
- Competitive pricing
- Quick decision-making to meet expectations
Transparent pricing
Rates & Charges
| Detail | Information |
|---|---|
| Term | 3-12 months (new); 24 months (re-loans) |
| Amount | K300,000 - K5,000,000 |
| Interest Rate | 5.5% per month on a reducing balance |
| Insurance | Credit Life Insurance is mandatory |
Am I eligible?
Eligibility
- Registered Properties or unregistered Properties (Residential or Commercial building) with proof of ownership
- Registered land/Estate, Motor vehicles, Business assets, Electronics household chattels
- Personal guarantees
- Fixed-term/deposit contracts, shares, Treasury bills, Insurance policies
- Registration of the equipment financed under the Personal Property Security Registry (PPSR) to the full value of the equipment
- Minimum of 150% of the approved loan value
Requirements
- Applicant must be above 18 years and under 65 with any exceptions approved by Management from time to time
- In case of production, an applicant must have proof of leased or rented land to cultivate on, plus crop/weather/livestock insurance cover
- Applicant should be of Malawian Citizenship with National ID or Passport with a Resident/Business Permit
- Applicant must have a minimum of 12 months business experience
- Applicant must be able to provide the necessary guarantors and physical collateral for the loan
- Applicant must have a registered business with the Malawi government or be willing to register it during the loan processing period
- Applicant must have an account with Centenary Bank or be willing to open one during the loan processing period
- Completed Loan application form
- Full business details plus financial performance information captured and analyzed by Loan officer
- Credit reference bureau report plus any other relevant documents as required by the Microlending User Manual
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
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Min 300,000 · Max 5,000,000
%
Indicative; the actual rate depends on your credit assessment.
Min 3 mo · Max 24 mo
Total Payment
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- Total Interest Payable
- 117,705
- Monthly Installment
- 34,809
- Term
- 12 months
Illustration only. Actual repayments depend on credit assessment, fees, and prevailing rates. Subject to Centenary Bank Terms & Conditions.