United Bank for Africa (UBA) has existed for many years and knows how to cater to the financial needs of its customers, this includes easing their financial burdens through various loan offers.
So, if you need financial support for your personal needs, family emergencies, or business purposes, this bank has got you covered. Therefore, in this guide, we will show you all the types of loans UBA bank offers and how you can get any of them.
See also: Bank of Industry Loans in Nigeria: A Comprehensive Guide for Business Financing
How to get a Loan from UBA
There are different types of loans UBA offers, and each has different requirements and application processes, so you need to understand what they entail, see if you meet their requirements and decide on the one you need.
Personal Loans
This loan is designed to help salary earners achieve their dreams and pay back gradually from their salaries. With this loan, you can pay for skills or courses for career advancement, clear your medical bills, start a side hustle and make home improvements.
The repayment tenor of the loan is 60 months, with a generous interest rate. The maximum amount for this loan is ₦30 million, and the minimum is ₦200,000.
Requirements
- A letter of employment.
- Valid ID.
- Functional UBA account.
- A copy of your staff ID.
- Employer’s undertaking.
How to Apply
- Take the application form with all the required documents to the bank and submit them.
- When it is approved, execute a detailed offer letter stating the requirements and terms of the loan.
- The money will be deposited into your UBA salary account.
See also: Zenith Bank Loan For Salary Earners – Requirements and How to Apply
Click Credit
Click credit is a UBA loan offer that allows you to get up to ₦1 million in one minute; it has a very low interest rate of 1.92% monthly and a convenient payback time of 3 to 12 months.
Requirements
- A functional UBA account.
- Valid means of identification.
- Copy of your staff ID.
- A letter of employment.
- Have a minimum salary of ₦25,000 in your account.
How to Apply
Choose any of these three application methods.
- Dial *919*28# on your mobile phone.
- Send ‘’Loan’’ to LEO on Facebook or WhatsApp.
- Use the click credit feature on WhatsApp.
Senior Citizens Loan
The UBA senior citizens loan provides financial support for pensioners between 50 and 75 years old. If you fall into this category, you can easily get up to ₦15 million to travel the world, start a good retirement project, and fulfil your dreams.
You will have 36 months to repay the loan, and luckily, it has a reasonable interest rate and a one-time management fee of 1%. The maximum amount is ₦15 million, and it also has a credit life insurance of 1.6%, which is put in place in case of critical conditions, permanent disability or death.
Requirements
- A pension identification number.
- A functional UBA account.
- Up to 3 months of consistent pension remittance.
- Minimum net pension of ₦100,000 monthly.
- A valid ID card.
- Must be 50 to 75 years old.
How to Apply
- Take the loan application form with all the required documents to any branch of UBA Bank.
- When it is approved, execute a detailed offer letter stating the requirements and terms of the loan.
- The money will be deposited into your UBA account.
Asset Finance
Asset finance is designed to help you get money to purchase household appliances, mobile devices, furniture, generators and other expensive things you need in your home. If you are an employee in the private or public sector, you can get this loan and pay it back in 24 months. The interest rate is quite favourable, and it has very minimum requirements.
With this loan, you can access reliable dealers and suppliers. The maximum amount is ₦3 million, and the minimum is ₦35,000, with a minimum equity contribution of 30%.
Requirements
- A functional UBA account.
- Valid means of identification.
- Copy of your staff ID.
- Duly accepted letter of employment.
- Duly complicated loan application form.
- Employer’s undertaking to domicile salary with UBA.
How to Apply
- Get a pro forma invoice for the items you want to buy from any approved vendor.
- Visit a UBA branch and submit the application form with the pro forma invoice and the required documents.
- Upon approval, execute an offer letter which states the requirements and terms of the loan.
- Go pick up your items from the vendor.
Insurance Premium Financing
With the UBA insurance premium financing, you can protect everything you cherish, from houses to cars and businesses. It allows you to get insurance for your assets against losses, and you can pay back gradually over one year.
The repayment period of this loan is 12 months, with a maximum loan amount of ₦5 million and a minimum loan amount of ₦50,000. The loan has an attractive interest rate with a minimum equity contribution of 2 months instalments.
Requirements
For individuals:
- Evidence of ownership of the asset to be financed.
- A functional UBA account.
- Duly completed loan application form.
For SMEs and corporate organizations:
- List of asset(s) to be financed.
- A functional business account with UBA.
- Board resolution.
- Duly completed loan application form.
- Company and director(s) Information.
How to Apply
- Visit a participating insurance firm and obtain an invoice for premium insurance payment.
- Visit any UBA branch closest to you and submit your application form with all the required documents.
- Deposit the equity contribution of 2 months’ instalments into your UBA account.
- When your loan request is approved, the money will be credited to your account and transferred to the insurance company with your equity contribution.
- You will receive proof of payment from the insurance company.
See also: Bank Loans Without Collateral In Nigeria – Top 9
As you can see, UBA is a seamless bank with very generous loan offers. The requirements are comparatively low, and the loan amounts are high; each of them will certainly be more than enough to cover the expense you are getting the loan for.
So, if you need quick cash to sort out some financial issues, we hope that this guide on getting a UBA loan has answered all your questions and will help you choose the right loan for your needs.
