More

    Uba Loan

    Uba Loan

    No matter what your problem is, money can always solve it, at least to a reasonable extent. Taking loan is sometimes the only option left. So in this post, I will take you through all you should know about UBA Loan. Now let’s move it!

    Uba Loan

    Requirements

    To understand the requirements for UBA loan, I believe you should understand first that there are different categories of loans offered by UBA. These different loans bears different requirements and eligibility options. So now what are those loan categories offered by UBA?

    Personal Overdraft: This is a short-term credit facility that allows you to overdraw your current account for 6 months, up to a maximum amount of N3 million. It has two sub categories: Revolving Personal Overdraft for individuals who earn up to N2. 5 million per annum and Executive Personal Overdraft for individuals who earn up to N5 million per annum. If you do not fall into any of these categories, this loan isn’t for you.

    Asset Finance: If you want to acquire an asset, maybe a house or an equipment for your industry, you can get the UBA’s Asset Finance. You must be an employee working with a reputable organisation and whose salary has been paid through UBA for at least 3 months.

    Personal Loan: Personal issues are solved with personal loan. So you can’t take care of your bills by getting a personal loan. To be eligible, you have to be a worker whose salary account is domiciled in UBA or a self-employed person who has good monthly income.

    Co-operative Loan: This loan is offered to Cooperative societies of blue-chip companies. The cooperative society must have a minimum Opening & operating balance of N2,000.

    Cash Collaterised Loan: This is a consumer loan which makes it possible for customers to obtain credit in Naira, the US dollar, Pound sterling and the Euro using their cash deposits, investments and their equivalents with UBA, UBA Capital & Trust and any other financial institution acceptable to UBA.

    This loan targets individuals who have cash deposits, investments and their equivalents and those whose salaries must have been paid through UBA for at least 3 months. Employees who will be discussing or selling consumer credit products are also the target of this loan.

    Following your application form are these supporting documents:

    1. Letter of recommendation from your employer bearing your employer’s letterhead.
    2. Means of identification of the applicant(s)
    3. Employment letter or confirmation letter statinh your grade or position.
    4. You must have a current or savings account with UBA. The Savings will be converted to Current account.

    How to apply

    The application process of the UBA loan can be done at any UBA branch.

    You can download the loan application form here. Fill it and submit it at any UBA branch closest to you.

    You can also obtain the form from the customer service personnel at any UBA branch. If you meet the criteria, they will definitely offer you the loan.

    The application process of Cooperative loan is somehow different.

    1. Write a letter of request to the Manager of your business office (your UBA branch), duly signed by the authorised signatories of the cooperative. The letter should state the amount & tenor of the facility required.
    2. Now, submit the letter and the supporting documents to the Customer Service Officer in your UBA branch.

    Interest Rate

    The UBA loans comes with varying interest rates.

    It ranges from 5% to 20% depending on the type of loan and the tenor.


    Other Popular Banks That Gives Loans In Nigeria:


    Repayment

    You do not have to go through the rigours of complex repayment methods. At the end of every month, on dye dates of payment the supposed amount will be deducted from your bank account.

    You could also pay via internet banking or using the ATM.

    On any account you couldn’t pay when supposed, extra charge will be incurred and your collateral will be confiscated.

    Pros & Cons

    Pros Cons
    • Flexible repayment options
    • The loan tenor is commensurate with the loan types.
    • Collateral required on some loans.
    • Guarantor required on some loans.

    Mobile App

    UBA Mobile banking app is available on both iTunes and Google Playstore. 

    Customer Care

    If you need any help, UBA customer service personnel are just a call or mail away from you:

    cfc@ubagroup.com

    +234012808822, +2347002255822, +234016319822

    Official Website www.ubagroup.com
    Contact Number +234012808822

    Branches & Head Office

    UBA Head Office: UBA House, 57, Marina, Lagos State.

    The UBA branches are dispersed around the country. Simply locate which is closest to you Via this Link

    Here are More Banks offering Loans in Nigeria: Ferratum Loan,Payconnect Loan,Alat Loan

    Share

    Recent Posts

    Airtel family and friends 2020: Definitive Guide

    Airtel family and friends is a special tariff from Airtel Nigeria that allows subscribers to enjoy cheaper call rates to 5 numbers...

    Airtel Nigeria Data Plans: Subscription Codes & Prices

    Airtel Nigeria is undoubtedly one of the best leading global telecommunications companies in Nigeria. Its official name is (Bharti Airtel Limited),...

    Airtel Night Plan for 2020: Get 500MB for N25 & 1.5GB for N50

    Airtel Night Plan Airtel midnight browsing plans has been up and running for a while now. However, over the...

    Why should I secure my car with a GPS Tracker

    Often times, vehicle owners are puzzled with the dilemma of whether they should get a vehicle tracker installed in their vehicle. Jucai,...

    Ecobank sort codes and branches in Nigeria

    Ning For Not Studying Well, Using The Delusion Replaces The Truth, And The C2040-415 Certification Sister In Law Lsat Practice Tests Cannot Teach...

    Recommended Reads

    Etisalat Data Plan Subscription Codes – 9Mobile Data Plans

    Etisalat Data Plan Subscription Codes or better still 9Mobile Data Plans are one of the most searched terms online for smart phone users. However , Etisalat...

    How do I know if my SIM card is 4G?

    The simple and straightforward way to know if your SIM card is 4G compatible is to insert the SIM into a 4G smartphone, power...

    How To Recharge Glo Airtime & Buy Data On Glo

    Here's how to recharge Glo airtime and also transfer Glo data Did you just got a new Glo sim card and haven't loaded your Glo...

    Airtel Night Plan for 2020: Get 500MB for N25 & 1.5GB for N50

    Airtel Night Plan Airtel midnight browsing plans has been up and running for a while now. However, over the...

    How To Buy Airtime And Data From First Bank

    Here's how to buy airtime and data from First Bank Are you an old customer or a new First Bank account Holder, who would love...
    Uba Loan

    Related Articles

    Airtel family and friends 2020: Definitive Guide

    Airtel family and friends is a special tariff from Airtel Nigeria that...

    Airtel Nigeria Data Plans: Subscription Codes & Prices

    Airtel Nigeria is undoubtedly one of the best leading global telecommunications...

    Airtel Night Plan for 2020: Get 500MB for N25 & 1.5GB for N50

    Airtel Night Plan Airtel midnight browsing plans has been...

    Why should I secure my car with a GPS Tracker

    Often times, vehicle owners are puzzled with the dilemma of whether they...
    Previous articleUnion Bank Loan
    Next articleQuickteller Loan