The Center Lease is a finance lease product designed for short to medium-term use by customers in the agricultural sector as well as other businesses outside the sector, including transportation, trade, education, health services, and recreation.
Its purpose is to enable the acquisition of productive assets or equipment for small-scale processing, manufacturing, hotels, and other commercial activities.
In exchange for recurring rentals paid throughout the lease duration, the bank leases goods and equipment to the customer.
Once all pre-arranged rent or lease payments have been made, the customer instantly becomes the owner of the asset.
Here are the benefits of getting a Cente lease, features, and requirements.
Features
- Minimum lease payment of UGX 100,000.
- UGX 8 billion is the maximum lease amount (VAT inclusive).
- Rate of interest applied to declining balances
- The maximum lease term is five years.
- Where necessary, a flexible grace period is offered.
- Securing the leased object
Requirements
- Applicant must have a Current or Savings Bank.
- Completed lease application form.
- Financial card
- Contribution in cash toward the asset or equipment acquisition
- Acceptable proof of the lessee’s and the rented item’s identities
- Applicant residing in the branch’s specified service region
- Must be having the necessary business experience
Benefits
- The bank’s key security is the leased property.
- An attractive interest rate is applied to balances that are declining
- Offers of grace periods are made on an individual basis.
- Flexible terms and schedules for repayment
Conclusion
In summary, the Cente Lease is good for customers who are involved in agricultural production, processing, and marketing.
It’s also beneficial for those people in other business activities outside the agricultural sector, such as transportation, trade, and commerce, education, health services among others.
To take an informed decision regarding the Cente Lease the information above should prove helpful or better yet, you could get in touch with a Cente Lease representative from the centenary bank by sending them an email at info@centenarybank.co.ug.
