Salary-backed personal loan with fixed interest on reducing balance. Fast processing with loans available in ≤24 hours.
18-26% (reducing balance)
Up to UGX 500,000,000
Up to 5 years (unsecured), Up to 10 years (secured)
Varies based on loan amount
The Centenary Bank Salary Loan is designed for salaried employees looking for flexible financing options. This loan offers competitive interest rates on a reducing balance basis, making it more affordable over time compared to flat-rate loans.
With fast processing times of 24 hours or less, this loan provides quick access to funds when you need them. The loan offers flexible top-up options and can be accessed through Centenary Bank's mobile banking platform.
Use our calculator to estimate your monthly repayments based on your desired loan amount, interest rate, and tenure.
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Total Interest
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This calculator provides estimates only. Actual loan terms may vary based on credit history, additional fees, and lender policies.
Centenary Bank uses a reducing balance method, which means interest is calculated on the outstanding loan balance. As you pay down your loan, the interest portion of your payment decreases. This is generally more favorable than flat rate interest, where interest is calculated on the initial loan amount throughout the entire loan term.
Yes, Centenary Bank offers top-up options for existing salary loans, subject to eligibility criteria and your repayment history. You typically need to have maintained a good repayment record for a qualifying period before being eligible for a top-up.
If you change employers during your loan term, you should notify Centenary Bank immediately. You'll need to provide documentation from your new employer and ensure your salary continues to be channeled through your Centenary account to maintain the loan agreement.
Centenary Bank may charge an early repayment fee, typically a percentage of the outstanding loan amount. The exact fee structure varies, so it's best to inquire at your branch for the most current information.
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Interest is calculated on the reducing loan balance, potentially saving you money compared to flat-rate loans.
With processing times of 24 hours or less, you can access funds quickly when you need them.
Choose from a range of repayment periods and enjoy flexible top-up options as you build your credit history.
The information provided on this page is for general informational purposes only and is based on our research as of 2025. While we strive to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained on this page. Any reliance you place on such information is therefore strictly at your own risk. Always verify the latest terms, conditions, and interest rates directly with Centenary Bank before making any financial decisions.
