This article will guide you on how to get a Centemobile loan from Centenary bank Uganda. It is typical for everyone to go broke and at such times we are all required to get financial help to support businesses, pay school fees, mortgages and so much more. In case you have no friend to turn to, Centenary bank is ready to bail you out.
Contents
Who is Eligible for the Cente Mobile Loan?
- Bank customers registered on CenteMobile
- Existing borrowers
- Non-borrowers with who receive salary through Centenary Bank.
Cente Mobile Loan Requirements
1. A personal account registered on CenteMobile
2. Financial Card. This card holds the number used to report one’s credit information to the credit reference bureau. It includes information on your payment records for all loans processed through any financial institution. These records can be accessed by any bank while assessing your creditworthiness to borrow. It is therefore important to pay all your loans on time in order to ensure you have a good credit history.
Read Also: How to Register for Centenary Mobile Banking in Uganda
Use USSD Short Code to Get Cente Mobile Loan
1. Dial *211# and press the call button.
2. Enter your PIN.
3. Select the CenteMobile option from the menu.
4. You will be prompted to enter your PIN to continue.
5. Select the CenteMobile loans.
6. Opt for the Check loan limit (to know how much you qualify for).
7. After knowing your limit, go back to the previous page then select the Apply for a loan option.
8. Choose the account you want to use to get the loan from.
9. Go ahead and enter the amount you want to borrow.
10. Accept the loan terms and conditions.
11. You will receive a confirmatory message via SMS. Next, you can check your bank account balance then withdraw the money.
Read Also: Forgot your CenteMobile Pin, Here’s how you can Reset it
Get Cente Mobile Loan via Cente Mobile App
1. Download and install the Cente Mobile App. The app is available on Play Store and App Store.
2. Launch the app, then select CenteMobile login and log in with all the required details.
3. Select Cente Mobile Loan.
4. First, check the loan limit then go ahead and apply for a loan.
5. Select the account you want to use to acquire the loan.
6. Enter the amount you are willing to borrow.
7. Accept the terms and conditions.
8. Then finalize the transaction with a pin.
Cente Mobile Loan Terms
1. Minimum Loan amount of Ushs 5,000 and Maximum of Ushs 5 million.
2. Loan can be accessed for a period of 1, 2, or 3 months.
3. Mode of repayment: One can pay in advance, on the due date or the system recovers automatically.
4. Loan installments are paid on a monthly basis.
5. Interest rate charged is 7% per month for the selected loan tenure. Should you decide to settle your loan earlier than the set repayment/ maturity date, the interest for the entire loan period shall be applied at the time of offset. This will be regularly reviewed according to the prevailing market conditions.
6. Penalty calculation: 1% per day on outstanding balance up to a maximum of 15%