Do you need a United Bank For Africa (UBA) Loan for your personal or business needs but you are afraid you might not get it?
Check out this content to know how to get a quick loan product from UBA.
The whole point of taking a loan is to meet emergency needs and several financial institutions give loans to individuals and business persons. UBA is another place where you can get a quick loan via ussd code, mobile app, internet banking, or by visiting their branch in Nigeria.
However, when going for any loan, ensure you are earning a regular income because that will help your chances of getting the loan. The bank will mostly be interested in how you are going to pay back. Your bank account will help them access your creditworthiness and a poor rating could hurt your chances.
As a salaried worker, self-employed or business owner, you will find in this article some of the best UBA loans (no wahala and payday loan) you can access and how to apply for them.
UBA BANK LOANS AND HOW TO APPLY
1. Click Credit
ClickCredit is a quick loan product designed by UBA that is fully automated to give both self-employed and salaried workers funds when accessed from any UBA digital channels (USSD, Leo WhatsApp and Facebook, Mobile Banking and Internet Banking).
To be eligible for click credit, you must be receiving a minimum income of N25,000 monthly through your UBA’s bank account for the past 6 months. After, qualified customers will be able to get a minimum loan of N50,000 and 5,000,000 for the maximum loan amount.
Successful applicants will have up to 12 months to repay the loan. The applicable interest rate is 19% per annum. (1.58% monthly). Do note that you must be 18 years old and not more than 59 years old at loan maturity.
Since it is a quick loan that can be accessed via UBA digital channels, there are no documents or collateral required to access the loan.
How To Apply For Uba Quick Credit
If you preferred to use the USSD code to get the click credit loan, simply dial *919*28# on the mobile number registered to your uba bank account.
Other ways to get the UBA quick credit loan is to access the internet Banking and Mobile Banking platforms. For a mobile app, go to your respective app store to install the UBA App.
Alternatively, chat with Leo on WhatsApp to apply for a loan. Send ‘loan’ to Leo. Leo’s WhatsApp number is 0903 001 0007.
2. The UBA Personal Loan product
Hey there, have you been held back due to lack of money? The UBA Personal Loan product is all you need. With this product, you can make that dream reality. It could be to improve your home, support that side hustle, or cover an urgent medical expense.
As a salary income earner, this could be the light at the end of the tunnel for you. However, To be eligible to obtain the UBA Personal Loan product, you must have been confirmed as a staff in your working environment, your employer must be on the approved list of organizations for Personal Loans and have a UBA account domiciled with the bank.
You will also need to complete documentation. A duly completed Loan Application Form, copy of your bank statement and payslip for the past 6 months and letter from the employer indicating awareness will be submitted.
If qualified for the loan, you will be able to get a maximum loan amount of N30million depending on your cashflow. Minimum loan amount of N100,000 with up to 60 months to repay the Uba loan.
How To Apply For Uba Personal Loan
- Go to any UBA Branch and request for a loan application form or you can request from UBA customer care online.
- Complete the loan document and submit with supporting documents at any branch.
- Alternatively, you can visit ice.ubagroup.com:8463/kastle/ikastle.html to begin your loan application.
- Once approved, the loan will be disbursed into your uba salary account. This should not take more than 48 hours.
3. Asset Finance
If your salary account is domiciled with UBA, you can now make your home a haven using the UBA asset finance loan. With a UBA Asset finance loan, you will be able to procure Home appliances, Electronic devices, Solar system, Furniture, Phones, and generators.
Customers will be expected to make a 30% down payment of the cost of the asset while the bank completes the rest. The minimum loan amount of the financed asset is N35,000 and the maximum amount of asset is N3,000,000. Upon approval, you are given a Convenient repayment period of 24 months to repay the loan. Successful applicants do not need collateral to assess Asset Finance.
The participating vendors are Pragmatic Inverters and Pointek- Mobile Phone and Laptop.
How To Apply For Asset Finance
To apply for UBA asset finance, obtain a Pro-forma invoice for the item you want to purchase from an approved vendor.
Then visit a UBA branch to complete a loan application form and submit with all necessary documents such as an Executed offer letter, Valid means of ID, Staff ID, One Passport Photograph, and a complete loan form. The loan form can be gotten from UBA customer care online or at their branch. Meanwhile, you can apply online by visiting ice.ubagroup.com:8463/kastle/ikastle.html.
Once you have completed the documentation, UBA bank will now access your asset loan application. Once approved, you can pick up preferred item(s) from the vendor.
4. UBA Auto Loan
Maybe you have been seeing your co-workers riding a new car and you are asking how they manage to obtain it considering you are on the same salary scale?
The truth no one will love to share with you is probably UBA Auto Loan. With the loan, you can finally get your new ride or upgrade to a more sophisticated car to cruise the town while you make payments conveniently. Approved brands are Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia, and Volkswagen.
The UBA Auto Loan is given to customers who have their salary accounts with the bank with no collateral. However, the financed automobile will serve as collateral.
They can get up to N15,000,000 on uba auto loan products with convenient repayment terms of up to 48 months. Meanwhile, successful applicants will need to provide a minimum equity contribution of 30% while the bank completes the rest of the money.
Participating Vendors are Cedric Autos-Toyota, Iheh Mic- Toyota, Lexus, Hond, Stallion Nmi-Nissan, and CFAO – Suzuki, Mitsubishi
How To Apply For UBA Auto Loan
Obtain a Pro-forma invoice from any of the participating vendors.
Please visit a UBA branch with the following documents: A Pro-forma invoice, Valid means of identification, a Staff Identification card, and one passport photograph.
Once approved, you can pick up your car from the approved vendor.
If you do not want to visit the bank, you can do it yourself by visiting ice.ubagroup.com:8463/kastle/ikastle.html.
5. Insurance Premium Financing
Individuals, Small and Medium Enterprises (SMEs) or Corporate Organizations struggling with making insurance premium payments can get finance from United Bank Of Africa (UBA). This will help you protect everything worth protecting while you can repay easily for 12 months.
The UBA Insurance Premium Financing covers the following: Comprehensive Vehicle Insurance, Fire Insurance on Asset, Burglary Insurance on Asset, and Comprehensive Insurance on Property.
Do note the interest rate on this facility is 20% per annum. You are expected to make 2 months’ instalment payments while UBA bank completes the rest.
You can apply for Insurance Premium Financing on UBA’s loan application portal or visit the nearest branch. You can get in touch with UBA customer care on their online link. Alternatively, visit ice.ubagroup.com:8463/kastle/ikastle.html to apply for the loan.
6. UBA SME Asset finance loan
UBA SME Asset finance loan is specifically designed for small and medium enterprises (SMEs). As a business owner, you can now get the finance to purchase new assets and also expand your enterprise.
Each successful applicant can borrow a minimum loan of ₦4Million and a maximum Facility amount of ₦50Million. This loan will only be given to business owners that have been registered with the Corporate Affairs Commission (CAC).
The list of businesses currently supported by UBA are Agri-Business, Food & Drink, Entertainment & Recreation, Wholesale/Retail Trade & Key Distributors, Educational Institutions, Professional Firms & Service Providers, Exports, Green Economy and Fintechs, and other viable Business Segments.
To apply for UBA SME Asset finance loan, visit UBA branch for more information or reach out to their customer service agent via their online channels. Do note that the bank will request documentation for this loan product.
7. UBA School Loans
Are you a owner of a privately owned school and have been using UBA account for the past 3 months?
You could get a loan from the bank to take care of working capital, asset, or mortgage needs. This offer comprises of a 4-month time loan, a 3-year asset finance loan and a 10-year mortgage loan which depends entirely on the loan type you are interested in.
You will be required to provide the following documents to obtain the UBA loan – Duly completed KYC form, Evidence of registration with regulatory bodies, Applicant’s letter of request written application /facility request, and Letter of undertaking by the business owner to domicile all business proceed over the facility tenor Payment mandate.
A maximum loan amount of N5 million, N20 million, and N100 million for SHORT TERM LOAN, ASSET FINANCE, AND TERM LOAN respectively.
Also, you will need to agree that the school fees will serve as collateral. Customers can apply for UBA School Loans by visiting any UBA branch nearest to them.
8. Young Entrepreneur Finance Scheme (YEF)
Young Entrepreneur Finance Scheme (YEF) is designed by UBA to give young business owners credit facilities to grow their SMEs.
To access this loan, you must have been running a current account with UBA for a minimum of one month with 3 months’ account statement from former bank. However, if you have been using your UBA account for at least 3 months, there won’t be any need to produce a 3 months’ statement of account from your former bank.
A maximum loan amount of N15,250,000 and a minimum loan amount of N1,525,000 is what each qualified business owners will get. The repayment period is a maximum of 7years but startup businesses will be allowed a 6 months moratorium period.
To apply for Young Entrepreneur Finance Scheme (YEF), visit the nearest UBA branch closest to you.