UBA Insurance Premium Financing Loan:benefits, requirement and how to apply

With the establishment of UBA Cameroon, UBA Cote d’Ivoire, UBA Uganda, UBA Sierra Leone and UBA Liberia as well as the acquisition of a 51% interest in Banque Internationale du Burkina Faso,the bank has been intensifying its African footprint with 20 African subsidiaries.

The united bank of Africa has unveiled Insurance Premium Financing. A loan to part-finance a premium paid for insurance policy,which make it easy for you to protect everything you hold dear

The bank will pay to insure your assets against loss and you can repay conveniently over a year. The maximum loan a registered business can apply for on Insurance premium financing is N5,000,000 and minimum loan amount that can be offered individual/corporate is N50,000

The Participating insurance companies are: Leadway Pension Insurance and NSIA Insurance company.

Read: How UBA Click Credit Loan and Instant Bills Pay Works

Features & benefits of UBA insurance premium financing

1. Convenient repayment period of 12 months
2. Competitive interest rate
3. Maximum loan amount of N5million for registered businesses and N1million for individuals
4. Minimum loan amount of N50,000
5. Minimum equity contribution of 2 months’ Installments

What does UBA insurance premium financing  Loan cover?

The insurance financing policy covered the following as adumbrated below:

1. Comprehensive Vehicle Insurance
2. Fire Insurance on Asset
3. Burglary Insurance on Asset
4. Comprehensive Insurance on Property

 

What is the minimum equity contribution of UBA insurance premium financing Loan

You have to contribute for 2 months’ insurance premium installment before you can access this kind of loan facility. Also you can liquidate your loan before the given tenor, all you need to do is to have your account funded and visit the nearest branch for loan liquidation.

 

What is the maximum tenor?

The maximum UBA insurance financing policy duration is 12 months

Also read: list of UBA loan: Click Credit, Auto loan,Asset Finance and Person loan & how to apply for UBA loan package

Eligibility Criteria for UBA insurance financing policy

 

For individuals:

1. Functional account
2. Duly completed loan application form
3. Evidence of ownership of asset to be financed

For SMEs and Corporate Organizations:

1. Functional business account
2. Duly completed loan application form
3. Board Resolution
4. Company and Director(s) Information
5. List of Asset(s) to be financed

Also Read: UBA transactions Magic CODE *919#:How to buy AIrtime, Open Account ,Funds Transfer and Pay bills in Nigeria

How to apply for UBA insurance premium financing Loan

1. You can apply on UBA loan application portal or visit the nearest branch. Also you can Visit any of the participating insurance bodies to obtain an invoice for premium payment

2. Then, visit a UBA branch to complete a loan application form and also submit required documents.
3. Fund your account with equity contribution of 2 months’ instalments.
4. The loan will then be credited into your account and moved to the insurance’s account along with the equity contribution.
5. Insurance company will send proof of payment to you.

, ,

About admin

Advertisement, Content marketing and sponsored post: contact : Kokobest04@gmail.com
View all posts by admin →