If you are looking for a reliable platform to secure quick funds to take care of business and urgent personal needs, then UBA Loan might just be what you need.
UBA (United Bank of Africa), one of the leading financial institutions in Nigeria, is offering various loan packages to meet the needs of individuals.
Whether you need a loan for medical bills, groceries, renovating your home, expanding or running business operations, or paying for your child’s or ward’s education, the UBA loan can take care of these financial challenges.
Furthermore, the institution offers a competitive interest rate with a flexible repayment plan, which can allow you to repay the loan without strain or tension.
Detailed in this article is everything you may need to know about UBA Loan, which includes type, application process, requirements, how to secure a loan with the UBA Loan Code, as well as the interest rate and frequently asked questions. Keep Reading!
About UBA Loan
UBA loans are the diverse loan packages that individuals can get from UBA (United Bank of Africa), one of the best financial institutions in Nigeria.
The loan packages are designed to meet the personal or business needs of individuals.
These loans offered by UBA (United Bank of Africa) come with a competitive interest rate and a flexible repayment plan so that individuals will have no problem during repayment.
So, whatever loan you may need, UBA has carefully designed a loan package to provide the needed solution for you.
Why You Should Choose a UBA Loan
UBA Loan is one of the best loan packages that is designed to meet any kind of need.
These loans are packed with benefits, which individuals can find irresistible.
The following are reasons why you should choose the UBA loan:
- Competitive Interest Rate and Terms: The interest rate offered by UBA for its loan packages is competitive with a transparent term of repayment. Additionally, there are many repayment options to choose from so that individuals can repay the loan without difficulty
- Accessibility and Convenience: With branches all over the country, the institution ensures that any individual can get to the bank and apply for their loan packages. Furthermore, they have technologies in place and a USSD code to make loan applications seamless. So, you can apply for the UBA loan from anywhere in the country at any time.
- Customer-Centric Approach: UBA makes sure that customers get the needed support during and after loan applications. They provide relationship managers, 24/7 customer support, and personalized services to make sure that customers get the needed support.
- Quick Access: UBA uses advanced technology to process loan applications, and this ensures that applications are given quick attention, making approval swift and instant.
- Huge Amount of Money: Borrowers can secure a large sum of money that they can use to take care of large projects like business expansion or the purchase of equipment or vehicles for business operations.
- Constant Cash Support: The institution provides regular cash support monthly, which makes it possible for individuals to easily take care of their personal and business needs.
Types of UBA loans
Personal Loan
This is a package designed by UBA (United Bank of Africa) for salary earners. This loan is used to take care of medical bills, home renovations, pay for training and other unplanned expenses, or for self-care.
This loan is designed with the aim of helping them achieve their dreams.
Features and benefits
- The repayment lifespan is 60 months.
- The interest rate is attractive and will be on floating terms, which are subject to change during the loan period.
- UBA charges a one-time management fee of 1%.
- Borrowers can get a minimum loan amount of N200, 000 and a maximum of N30 million.
- You get access to up to 60% of your debt service ratio (DSR).
Requirements
- An active or functional savings or current salary account
- A completed application form
- Government-approved means of identification such as an international passport, driver’s license, national ID, and voter’s card.
- A staff ID must be made available.
- Offer letter or an employee inquiry form and a domicile salary with UBA.
How to apply
- Visit any of the UBA branches in the state where you reside.
- Complete and submit the loan application form with the required documents.
- You will receive an offer letter that contains the loan terms and requirements once the loan is approved.
- The loan will be sent to the salary account you have with UBA.
UBA Senior Citizen Loan
UBA (United Bank of Africa) design this loan package to support pensioners in the age bracket of 50–75 years.
Individuals within this age bracket can get up to 15 million naira to do what they want, like travel the world and much more.
Features and Benefits
- You get a repayment period of 36 months.
- A competitive and attractive interest that will be on floating term that is subject to change during the period of the loan
- Individuals can get up to 15 million in loan amounts.
- UBA will charge a one-time management fee of 1%.
- They also get credit life insurance.
Requirements
- A working UBA account
- Pension identification number
- You must provide a 3-month consistent pension remittance through UBA.
- Your net pension fund should be N100, 000 and above.
- The age limit to be eligible is 50–75 years.
- An approved means of identification such as an international passport, NIMC, voter’s card, or driver’s license
How to apply
- Visit any of the UBA branches.
- Complete and submit the application form along with all the requirements.
- After reviewing and approving the loan, they will send you an offer letter containing the terms and conditions for your consent.
- Immediately you do it, UBA will credit your account with the loan amount.
Asset Financing
UBA designed this type of loan package for the purchase of home appliances, inverters, smartphones, furniture, generators, and so much more.
The payback period is within 24 months, which is convenient with competitive interest rates.
Features and Benefits
- You get access to reputable dealers from UBA for any of the appliances or assets you want to purchase.
- The interest rate is attractive and will be on floating terms during the term of the loan.
- UBA gives you access to loan amounts from N35, 000 up to N3 million.
- The minimum equity contribution is 30%.
Requirements
- A working savings or current salary account
- A completed application form
- A government-approved means of identification like a national ID card, voter’s card, international passport, or driver’s license
- An employer’s salary account domiciled with UBA
- An offer letter duly accepted or an employee inquiry form
- You have to provide a copy of the customer’s staff ID.
How to apply for Asset Financing UBA Loan
- Go to any of the approved vendors from UBA and get a pro-forma invoice (PFI).
- Go to any of the UBA branches and complete the loan application form.
- After approval, they will send an offer letter to you containing the requirements and loan terms that will require your signature or approval.
- Visit the approved vendor to collect your item.
How to apply for a UBA loan using the USSD Code
Applying for a UBA loan using the USSD code is known as a click-credit loan.
With the USSD code, you get an instant loan of up to 1 million naira, and the repayment period is a maximum of 6 months.
The interest rate is competitive and flexible.
The institution design this loan package to take care of unplanned financial situations.
Additionally, you do not need any document to secure a loan.
To apply, dial *919*28# and follow the instructions for UBA to instantly credit your account.
Note that you must have an account with UBA (United Bank of Africa), and you must activate the USSD code on your mobile phone.
How to activate the UBA USSD Code for UBA Loan
Before you activate the USSD code, make sure to link the phone number you want to use to your UBA bank account.
Once you are sure, follow these simple steps:
- Dial *919# on your mobile phone
- From the pop-up menu, choose option ‘1’.
- From the option, choose register your UBA account.
- Provide your 10-digit account number.
- Input a 4-digit PIN
- You will be asked to reconfirm the PIN, and it will tell you that you have created the PIN successfully.
Note that the PIN is what you will be using for transactions, so make sure you only know the PIN.
How to Contact UBA Customer Care
You can contact UBA in the following ways:
- Visit their head office at 7, Marina Lagos Island, Lagos State.
- Call their call center numbers (+234) (01-2808822), (+234) (070002255822), and (+234) (02012808822).
- Send them an email at cfc@ubagroup.com.
Frequently Asked Questions for UBA Loan
Can I get a loan from UBA Bank?
If you have an account with UBA, you will be eligible to secure a loan.
What is the USSD code to get a UBA loan?
The UBA USSD Code is *919*28#.
Can I secure a UBA loan without a salary account?
No, the salary account is one of the important requirements to get a UBA loan. So, you need a salary account.
Which of the UBA branches can I visit to apply for a loan?
You can go to any of their branches nationwide.
What type of loan does UBA give a maximum of 1 million naira as a loan?
UBA gives a maximum loan of a million naira for the click credit loan.
What document do I need to get the Click Credit Loan?
You do not need any document, but you must have a salary account with UBA.
In conclusion
UBA offers enticing loan packages that can help individuals overcome financial difficulties. Additionally, they are one of the best financial institutions, with a competitive interest rate and a feasible repayment plan.
However, it is important to read through the terms and conditions of the type of loan you wish to secure. Furthermore, choose the repayment option that suits your financial condition.
You can take charge of your financial future with the various UBA loan options.
Related Post
Renmoney Loan, Requirements and how to Apply
NewCredit Loan, Requirements and how to Apply
Branch Loan App, Requirements, and How to Apply
Palmcredit Loan App: Requirements and How to Apply
