FAQS
Got a question? Anything you need to know about who we are, what we do, how we can help make your experience better? Our frequently asked questions should answer your query or inquiry. Scroll through to find your answer.
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Centenary Bank’s history dates back to 1983 when we started as a credit trust of the Uganda National Lay Apostolate. Our operations started in 1985 with two main purposes; serving the rural poor and making a meaningful contribution to the socio-economic development of Uganda. In 1993, we transitioned to Centenary Rural Development Bank Limited and were licensed as a full-service commercial bank. Today, we are Uganda’s leading Microfinance Bank with an asset base of UGX 4.7 trillion and serving 2.4 million customers through 80 branches, 193 ATMs, over 5,800 Agents, and several other digital channels including CenteMobile banking, and CenteOnline banking, CenteVisa debit & prepaid cards, and Mastercard Platinum debit card. Our Vision is “To be the best provider of Financial Services, especially Microfinance.”
At Centenary Bank, doing the right thing is at the heart of everything we do; from giving back to our community to building an all-inclusive workplace. Since the bank’s inception, we have consistently and deliberately dedicated time and resources to support our communities for sustainable development. Every year, we dedicate up to 1 per cent of the bank’s previous year’s after-tax profits towards Corporate Social Investment (CSI). This is in line with our corporate responsibility policy. To date, we have invested more than Ushs1 billion in our CSR programmes, over the last four years, and continue to do so year-on-year. Our goal is to touch more lives, especially those people living in rural areas, through financial education, health, environment, social work of the church and other community-based activities through our expansive branch network.
Centenary Bank offers a wide range of banking services including; deposit, savings, credit or loan and advances, as well as money transfer services. Our products are tailor-made for various categories of customers, including Government, SMEs, Corporate and Individuals. We offer our services to our customers through different channels, based on their needs.
We have a variety of banking channels which 193 ATMs, 80 branches, and over 5800 CenteAgents across the country. Other digital banking channels are CenteMobile, CenteOnline banking, CenteVisa debit & prepaid cards, and Mastercard Platinum debit cards.
Centenary Bank is headquartered at Mapeera House on Plots, 44-46 Kampala Road & 2 Burton Street in Kampala City.
We have a variety of banking channels which 193 ATMs, 80 branches, and over 5800 CenteAgents across the country. Other digital banking channels are CenteMobile, CenteOnline banking, CenteVisa debit & prepaid cards, and Mastercard Platinum debit cards.
Centenary Bank’s history dates back to 1983 when we started as a credit trust of the Uganda National Lay Apostolate. Our operations started in 1985 with two main purposes; serving the rural poor and making a meaningful contribution to the socio-economic development of Uganda. In 1993, we transitioned to Centenary Rural Development Bank Limited and were licensed as a full-service commercial bank. Today, we are Uganda’s leading Microfinance Bank with an asset base of UGX 4.7 trillion and serving 2.4 million customers through 80 branches, 193 ATMs, over 5,800 Agents, and several other digital channels including CenteMobile banking, and CenteOnline banking, CenteVisa debit & prepaid cards, and Mastercard Platinum debit card. Our Vision is “To be the best provider of Financial Services, especially Microfinance.”
You can call us on our toll-free number 0800 200555 or email us on info@centenarybank.co.ug, for our support.
Yes, the account is accessible at any Centenary Bank Branch.
The minimum balance required is UShs. 10,000.
The CenteSACCO Savings account is a specialized savings account tailored to meet the needs of SACCOs (Savings and Credit Cooperative Organizations). It is designed to encourage savings among SACCO members and facilitate their lending and investment activities.
Benefits include:
- No monthly ledger/maintenance fee.
- Tiered interest on account balances.
- Free quarterly account statements.
- Free Opportunity for financial literacy, mentorship, and entrepreneurship training.
- Access to standing order and direct debit facilities.
- Cheap & competitive loan interest rate.
- Cheap & competitive (life & credit) insurance package
- Digital technology to ease access, safe and secure.
- Internet banking services (with applicable charges).
Cash withdrawals can be made by completing a withdrawal voucher or using digital Technology through CenteSwift.
Features include:
- Denominated in Uganda Shillings.
- No minimum cash deposit required to open the account.
- Minimum balance requirement of UShs. 10,000.
- Interest-bearing account.
- Allows cash withdrawals through withdrawal vouchers & Cente Swift digital technology.
- Accessible at any branch.
- Monthly statement issuance upon request, one for free in a quarter.
- Accepts deposits via cash, wire, cheques, and other acceptable means.
- Can have a cheque book.
Requirements include:
- No opening cash deposit.
- Two recent passport size photos of account signatories.
- Valid National Identification Card for account signatories.
- Copy of SACCO registration certificate, NOT certified.
- Copy of the SACCO bylaws. NOT certified.
- Copy of the minutes and resolution to open the account (handwritten allowed)
- Introduction Letter from District Commercial Officer (DCO).
Interest is calculated based on tiered rates according to account balances. It starts at 3% p.a. for balances between UShs. 2M and UShs. 300M, increasing to 4% p.a. for balances above UShs. 300M up to UShs. 500M, and further increasing to 5% p.a. for balances exceeding UShs. 500M.
Withdrawal charges vary based on the amount withdrawn.
- For withdrawals up to UShs. 50M, a charge of UShs. 6,000 applies.
- For withdrawals between UShs. 50M and UShs. 200M, the charge is UShs. 10,000, and
- For withdrawals above UShs. 200M, the charge is UShs. 20,000.
Yes, internet banking services are applicable, providing convenient access to account
management and transactions online.
- No opening cash deposit.
- Two recent passport size photos of account signatories.
- Valid National Identification Card for account signatories.
- Copy of SACCO registration certificate, NOT Certified.
- Copy of the SACCO bylaws. NOT Certified.
- Copy of the minutes and resolution to open the account (Handwritten allowed)
- Introduction Letter from District Commercial Officer (DCO).
Yes, there is a minimum balance requirement of UShs. 10,000 to maintain the account.
No, there are no maintenance fees for the CenteSACCO Savings Account.
Account statements are issued free of charge once a quarter. However, monthly statements can be issued upon request.
The account accepts deposits in the form of cash, wire transfers, cheques, and any other acceptable means of deposit like digital, Mobile money etc.
Cash withdrawals can be made by completing a withdrawal voucher at any branch or through Centeswift Technology via bank Agents.
Yes, they receive free financial literacy, mentorship and entrepreneurship training opportunities, a standing order facility for regular transactions, competitive loan interest rates, a competitive insurance package for Life and Credit, and access to a secure SACCO app promoting transparency in business activities.
A CenteSACCO Current Account is a special current account designed for SACCOs and cooperatives to accumulate savings for financing their lending operations or future investment plans.
All types of co-operatives are eligible to open a CenteSACCO Current Account.
The benefits include:
- No monthly ledger/maintenance fee.
- Tiered interest on account balances.
- Free quarterly account statements.
- Free opportunity for financial literacy, mentorship, and entrepreneurship training.
- Access to standing order and direct debit facilities.
- Cheap & competitive loan interest rate.
- Cheap & competitive (life & credit) insurance package.
- Digital technology to ease access, safe and secure.
- Internet banking services (with applicable charges).
No, there is no maintenance fee.
Interest is calculated on a tiered basis depending on the account balance.
No, account statements are issued free of charge quarterly.
Withdrawal charges vary based on the amount withdrawn, ranging from UShs. 6,000 to UShs. 20,000.
Yes, there is an opportunity for free financial literacy, mentorship, and entrepreneurship training.
Standing orders are charged at UShs. 3,000, and direct debits are charged at UShs. 1,000.
The loan interest rate is 13% per annum.
A competitive insurance package is offered for both life & credit.
The SACCO digital technology promotes transparency in SACCO activities and ensures safe and secure transactions.
Yes, internet banking services are available with applicable charges.
The account is denominated in Uganda Shillings.
The minimum account Opening cash deposit requirement is zero.
Account statements are issued one free statement in quarter, but they can be requested monthly.
Deposits can be made by cash, wire/Digital Technology, cheques, and any other acceptable.
means.
No, there is no minimum opening cash deposit required.
Two recent passport size photos of account signatories, valid National Identification Cards for account signatories, a copy of the SACCO registration certificate, a copy of the SACCO bylaws, a copy of the minutes and resolution to open the account, and an introduction letter from the District Commercial Officer (DCO).
Yes, valid National Identification Cards are required for account signatories.
The process for obtaining a copy of the SACCO registration certificate may vary, but it typically involves contacting the District Commercial Officer (DCO), for documentation then one applies through Cooperative registry Management Information System using the link.
https://coopmis.mtic.go,ug
A copy of the SACCO bylaws is required to ensure compliance with the regulations and rules governing Cooperatives like SACCO’s operations in Uganda. This can be got online through the Link above in sec (24)
You can obtain an introduction letter from the District Commercial Officer (DCO) by contacting their office and following their procedures for account opening requirements.
CenteDiaspora is an individual savings account targeting Ugandans living and working abroad, particularly those interested in saving or investing back home (Uganda).
The product was developed as part of the Bank’s growth strategy intended to boost the deposit base by tapping into Ugandans living overseas. CenteDiaspora helps Ugandans in the diaspora save money back home for investment, and expenses management among others.
- All professionals i.e. Permitted residents, and Account holders with the banks abroad.
- Ugandans involved in informal and casual employment i.e. Those with requisite visas, authorization to stay abroad inclusive of those who have gone to study, or those processing residence permission to stay.
- The account is denominated in UGX, USD, GBP and EURO
- Opening balance of:- USD 200, GBP 100, Euro 100 and UGX 10,000
- The account earns a tiered interest of 3%-5% for UGX Accounts and 0.25% per annum for foreign currency accounts
- No ledger fees/Account maintenance fees
- Direct bank deposits done through authorized money transfer companies, TT’s and or by the bank’s appointed financial services providers/Agents i.e. Send Wave, World Remit, Western Union, Money Gram, etc..
- No Over the Counter (OTC) charge
- A dedicated Relationship Manager
- Ability to access - account through our mobile App.
- Free quarterly online bank statement (sent via individual email address)
- Withdraws can be done using CenteMobile, Visa enabled ATM, and other bank’s appointed financial services providers/Agents in addition to the visiting the banking halls.
- Transaction alerts on email are a must send to the customer account.
- The individual savings Account allows Email instructions (However this must be indemnified)
- Ugandan National ID
- Copy of the resident passport or valid resident Identification (I.D)
- One (1) recent passport size photo (colored) of the applicant(s)
- Initial opening balance of USD 200, GBP 100, Euro 100 and UGX 10,000
- No ledger fees/Account maintenance fee
- No Over the Counter (OTC) charge
- Dedicated Relationship Manager
- Attractive tiered interest of 3%-5% p.a. for UGX dominated accounts and 0.25% p.a. for foreign currency accounts.
- Interest is paid on quarterly basis on credit balances above the initial deposit.
- Safe & secure investment options.
- Free quarterly online Statement bank statement (sent via individual email address on request)
- Account can be accessed at any of the Centenary Bank branch in Uganda, Agent, Via Cente Mobile, VISA enabled ATM card, Cente Agent and Internet Banking.
- Deposits can be done using partner money transfer companies, TT’s and or any other remittance agencies.
- Withdraws via Cente Mobile, Cente Online Banking, Debit cards (Visa, Mastercard. centenary prepaid card)
- Customer receives free Email alerts on all transactions done on their account and those with local numbers also receive free SMS alerts.
- Non-resident Ugandans can manage their accounts in Uganda remotely.
Other than the ledger fees, account management fees and OTC charges, Fees for other services apply.
Account can be accessed via CenteMobile, CenteOnline Banking, ATM-VISA/Master/Prepaid card.
Yes, and it’s the recommended number to be connected unless the customer prefers their local number that is registered in their names.
No, but the customer can have both the Ordinary Savings account and the CenteDiaspora Account.
Yes, if,
- The accounts are in different currencies i.e. UGX/GBP/USD
- The accounts are Joint i.e. co-owned with another individual/s.
- The accounts are for different purposes and all actively to be operational.
Presently Yes, but we have proposed to have the non-personal and group accounts considered for those applicants who meet the opening requirement for legal entities like a company/group respectively.
Yes, a customer in diaspora can apply for a loan if they meet the requirements for the loan applied for.
Make a cash deposit at any of our branch or agent to activate your account.
Account becomes inactive after 6months of no activity i.e. Deposit or withdraw and becomes dormant after one year of inactivity.
No. you may however ably transfer from your account to their account or mobile wallet via our mobile banking platform.
One can write to diasporabanking@centenarybank.co.ug or call our customer care number 0800200555/080033534
- Log onto or download the CenteMobile app.
- Click on forgot PIN
- Enter account number
- Enter Visa debit card number
- Enter Visa debit card PIN
- Click on reset
- A notification with a default PIN will be sent via SMS or email
- Change the default PIN to the preferred at first login
- Dial *211# or Log onto the CenteMobile App
- Select CenteMobile,
- Enter your PIN,
- Select option for CenteMobile Loans,
- Select option for Check loan limit (to know how much you qualify for),
- Select request loan (to apply for the loan of your choice within the limit),
- Select 1 to confirm loan account,
- Enter the amount you want to borrow and period of repayment i.e., 1,2 or 3 months
- Accept the terms (for the loan to be disbursed into your account),
- You will receive a confirmation SMS shortly that the funds been successfully deposited on your bank account.
- You will then be able to withdraw money from your bank account.
- Dial *211# or Log onto the CenteMobile App
- Select CenteMobile
- Enter PIN to continue
- Select my accounts
- Select balance enquiry.
- Select 1 to confirm account and the actual and available balance will be displayed on the phone screen.
For MTN;
For Airtel:
- Dial *185# ok
- Select financial services then select banks.
- Select Centenary Bank
- Enter account number and follow prompts.
- Dial *165#
- Select financial services
- Select Bank deposit
- select Centenary Bank and follow prompt.
- Withdrawals fees range between UGX 500 to UGX 9,000 depending on the amount.
- Cente Voucher ranges between 500/- to 20,000/-
- Utility bills range between UGX 500 to UGX 7,000 per transaction depending on the amount. Note, National Water & Sewage Corporation is UGX 1,000
- For customers who are out of the country, formally make a request on info@centenarybank.co.ug with scanned copies of your National ID, Visa page and passport as well as your full account details.
- For customers in the country, visit the branch with a valid National ID for PIN reset.
- Customers with Visa debit cards can log onto the CenteMobile App, select forgot PIN and follow the prompts.
Charges
1. What are the transaction charges for Agent Banking?The following are the standard charges:
In case the deduction is not among the above, please call toll-free lines 0800200555 (MTN) and 0800335344 (AIRTEL) for support.
- UGX 3,000 ledger fees for Savings accounts
- UGX 11,000 for current accounts
- UGX 10,000 annual Visa card fee
- UGX 30,000 annual Platinum Mastercard fees
In case the deduction is not among the above, please call toll-free lines 0800200555 (MTN) and 0800335344 (AIRTEL) for support.
the following are the standard charges:
- Interim Statement is UGX 5,000 per page.
- Electronic Statement is UGX 2,000 per page.
- Duplicate Statement charge 4,000 per page.
- ATM cash withdrawals are charged international at 4% of the transaction value.
- Online and POS purchases are charged USD 2.5 plus 5% for forex mark-up.
- Cente ATM withdrawals are charged UGX 1,000 for UGX 1 million and below.
- UGX 5,000 is incurred for withdrawals done via other Visa enabled ATMs in the countrywide
- Point of Sale payments at local stores are free of charge.
- Withdrawals done via Interswitch enabled ATMs are charged UGX 1,500
International transactions
First, ensure that you have an original valid National ID and registered mobile number.
- Download the CenteMobile App
- Click CenteOn the Go
- Choose the preferred account.
- Follow the prompts.
Visit any branch to open a savings account with the requirements below.
- Two (2) passport size photos.
- Valid Identification document (Either copy of National ID).
- Initial Opening cash deposit 10,000 and UGX 15,000 for new visa card
Visit a nearby branch with a National ID and obtain one at a cost of UGX 15,000. The card is instantly issued and activated.
In case clients lose their VISA Card, please reach out to us through our toll-free lines 0800200555 (MTN) and 0800335344 (AIRTEL) to have your card blocked to protect your account from unauthorized access and thereafter visit any branch nearby with your National ID to have a replacement done at UGX 15,000. Card replacement turnaround time is same day.
- 0 to UGX 2 million attract a fee of UGX 5,000
- UGX 2,000,001 to UGX 5,099,999 is UGX 5,000
- UGX 5,100,000 to 50,999,999 is UGX 6,000
Yes, Centenary Bank offers Internet Banking services. With this service you are able to view account balances, transaction history, download statements, pay bills, buy goods and much more.
A CenteVSLA Savings account is a specialized savings account tailored for Village Savings and Loan Associations (VSLAs). It offers benefits such as attractive interest rates, access to financial literacy and entrepreneurship training, collateralization of the account balance for credit facilities, and various banking services like POS, SMS-banking, and online banking.
The request can be sent through the branch, partner or direct to head-office. The bank does the training needs assessment to ascertaining areas and gaps affecting the groups, the training shall be tailored to address those gaps and it will be done at group level. The trainings aimed at enhancing your financial knowledge and entrepreneurial skills.
With a CenteVSLA Savings Account, you can access POS service, CenteLinkApp services, CenteMobile banking service for transactions and account management.
- No opening cash deposit.
- Two recent passport size photos of account signatories.
- Valid National Identification Card for account signatories.
- Copy of VSLA registration certificate, NOT Certified.
- Copy of the VSLA Constitution. NOT Certified.
- Copy of the minutes and resolution to open the account (Handwritten allowed)
- Introduction Letter from District Community Development Officer (DCDO).
The account is denominated in Uganda Shillings, with a minimum balance requirement of UShs. 5,000.
No, there are no account Ledger/maintenance fees associated with a CenteVSLA Savings Account.
You will receive a statement of account monthly, providing you with a detailed record of your transactions and account balance. One free statement per Quarter.
Funds can be deposited by cash, wire, Digital Technology called CenteLinkApp, cheque, or any other acceptable means. Withdrawals can be made by completing a withdrawal voucher.
Yes, the account credit balance can be pledged as collateral for wholesale credit facilities.
Yes, the minimum account opening cash deposit is zero.
Yes, an introduction letter from the DCDO is required for account opening. Or LC1 of the area the group meets from.
Yes, account opening is facilitated at the field/community level for your convenience.
Our unsecured bid limit is UGX 1Bn. However, on case-by-case basis higher amounts have and
can be considered.
- Bank Account,
- Company documents
- Financial Card
- TIN
- Bid data sheet.
- Bid security format
- Guarantee Application form
- Application fee of Nil
- CRB fee of UGX 9,000
- Commission of 1% per quarter minimum Ushs. 200,000 Applicable taxes
- Stamp duty of UGX 15,000
- Excise duty of 15% of commission collected by the bank
Bank charges
- Application fee of Nil
- CRB fee of UGX 9,000
- Processing fee of 1% of Guarantee amount minimum Ushs. 150,000
- Commission of 1% per quarter or minimum Ushs. 200,000 Applicable taxes
- Stamp duty of Ushs. 100,000
- Excise duty of 15% of commission collected by the bank
Yes. We do not charge processing fees on cash secured Bank Guarantees and we also charge
only 0.5% of facility amount per quarter as commission. Other charges as aforementioned
apply.
No. Branches can approve guarantees within the delegated branch approval limits. However,
issuance of guarantees is centralized at head office.
In addition to the usual loan requirements such as audited books, company documents,
collateral, etc., copy of the signed contract agreement and or supplier statements for
distributors and evidence of previous works done for contractors are critical in securing
approval.
Contractors, Distributors, importers, exporters, manufacturers are potential clients.
Any manufacturer who imports raw materials, anyone intending to import equipment or
production line are first line customers for import LCs.
- LCs support the client in managing performance risk e.g. a client may make an advance payment and a product is not delivered.
- It ensures timely fulfilment of orders
- Improve on the client liquidity position. Reduce immediate cash needs
- Quality supply is guaranteed
- Our bids are processed within 1day
- Unsecured bid securities of up to UGX 1Bn
- Collateral requirement of only 50%
- Competitive pricing on all our Guarantee offers
Yes, we offer structured finance tailored to suit the Customers need/request using a range of
product mixes like Back-to-Back LCs, transfer LCs, collateral management arrangements, import
loans, etc).
All trade Finance requests are routed through the “Trade Finance Team” group email address.
You can reach out to the Trade Specialist Gerald on email address:
Gerald.Mungoma@centenarybank.co.ug or Manager Trade Finance: Martin Kiwalabye on email
address: Martin.Kiwalabye@centenarybank.co.ug