Last Updated on July 1, 2024 by admin
To maintain cash flow, Many businesses use bank loans as a suitable part of their financial structure to enable them secure finance in maintaining business operations, invest in equipment.
However, all business owners should evaluate their wants and needs before contacting a lender. This will allows the business owner to see which type of lender is the best fit for them.
There are many financial institutions that offer loans to business owners and salary earners depend on the term and condition and well with Interest rate accompanying any business and personal loan
Today we are going to take a look at all kind of United Bank of Africa “UBA” Loan portfolio you can apply for ranging from personal loan,Asset Finance,Auto Loan, Insurance Premium Financing and more other loan facilities.
How to apply for UBA SME Loans and Advances
Firstly,before customers can obtain a business loan, it’s wise to shop around for the best loan rates, though banks prefer to loan to businesses with an established track record of profitability.
UBA bank has short term and long term loan differing in amount and tenor, so it left for borrower to choose their loan depend on estimated calculation.
1. UBA Personal Loan
The UBA Personal Loan product is designed to support all salary earners –functional salary account holder (Savings and Current) in meeting their life long dreams like medical bills, make home improvements and do so much more!
What is UBA Personal Loan Features & benefits?
i.The facility has a convenient repayment period of 60 months when compare to other loan package
ii. The Maximum loan amount of N30million other other hand, the Minimum loan amount of N100,000
iii. Interest rate as low as 18% along with One-off management fee of 1%
Also read:UBA *919# transfer Code:How to create or change PiN, Transfer Money and ATM Cardless Withdrawal
Eligible for a UBA Person loan
To be eligible to obtain a loan facility, the following criteria are to be met:
– You must be a confirmed staff of your organisation
– You must run a UBA Salary Account
– Your employer must be on the approved list of organisations for Personal Loans
Requirements to obtain UBA Person loan
i. Duly completed loan application form
ii. A copy of your pay slip and bank statement of account indicating salary inflows in the last 6 months.
iii. A letter of awareness from your current employer.
iv. Functional savings or current salary account
v. Valid means of Identification (international passport, national driver’s license, national id card and voters card).
vi. Copy of the obligor’s staff ID
vii. accepted offer letter or employee inquiry form (The offer letter should contain Employee Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); Employee Job Status (Confirmed or unconfirmed).
viii. Employer’s undertaking to domicile salary with UBA.
How to apply for UBA Person loan
Borrower should Submit a completed loan application form with supporting documents at any branch close to your location.
Read:UBA Money Transfer: How to Transfer Money from and to United Bank of Africa *919#
UBA Auto Loan
The loan facility is designed for functional savings or current salary account holders.The Approved brands of UBA auto car loan are Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia and Volkswagen.
Features & benefits of UBA Auto Loan
The auto loan package has convenient repayment terms; up to 48 months with competitive interest rate
ii.The Maximum auto loan amount of N15m with Minimum equity contribution of 30%
iii. Mandatory comprehensive insurance and vehicle tracking
iv. Access to reputable auto dealers/retailers
Eligibility Criteria for UBA Auto Loan
The eligibility is the same of that of uba personal loan
How to apply for UBA Auto Loan
i. Visit any of the approved auto vendor stores to obtain pro-forma invoice (PFI) for preferred items.
ii. Visit a UBA branch to complete a loan application form.
UBA Asset Finance
The loan package is designed to solve the challenge of purchasing of household appliances, alternative power solutions ranging from smartphones, furniture, laptops, household appliances, inverters, generators etc.
The Asset finance has convenient repayment period of 24 months with competitive interest rate
Features & benefits of UBA Asset Finance
1.Maximum loan amount of N3million
2. Minimum loan amount of N35,000
3. Minimum equity contribution of 30%
Eligibility Criteria
To qualify for uba asset loan, Borrower must meet the requirements as stated in Uba Personal Loan Criteria.
How to apply for UBA Asset Finance
1. To apply for any asset of your choice with UBA, B orrower should get pro-forma invoice (PFI) for preferred items from any approved vendor
2. Then visit a UBA branch to complete a loan application form
You may like:How to check UBA Account Balance, Statement of account and Pay for Flight
UBA Click Credit
Ether you are a salary earner or self-employed, you can get a loan of up to 5 Million Naira in one minute at an interest rate of 1.58% monthly and pay back easily over 12 months.
The loan facility has Minimum loan amount of N50,000 naira with Interest rate of 19% annually (1.58% monthly). The loan has NO collateral, no documentation needed
Requirements for UBA Click Credit
Borrower must has A UBA account with a regular inflow of at least N25,000 monthly
How to apply for UBA Click Credit
1. Dial *919*28#
2. Chat with Leo via Facebook or Whatsapp using the keyword “Loan”.
3. Click credit is also available on UBA internet Banking and Mobile Banking platforms
