How to get UBA Personal Loans and requirements

Last Updated on July 25, 2024 by admin

UBA Personal loan help functional salary account holder Savings and Current who run a UBA Salary Account cover their emergency expenses such as medical bills, make home improvements.The UBA Personal Loan facility request takes about 48 hours for loan disbursement, upon receipt of all required documentation.

Borrowers can enjoy flexible loan tenor up to 60 months,The loan amount is up to N100,000- N30million depending on your salary and other set terms and conditions. The Interest rate is as low as 20% with a One-off management fee of 1% which give you Access up to 50% of your debt service ratio(DSR).

How do I know if I am eligible for UBA Personal loan,?

To be eligible for a UBA Personal Loan, you generally need to meet the following requirements:

•  You must have a functional savings or current salary account with UBA.
•  You should be a confirmed employee with a verifiable income.
•  Your salary should be domiciled with UBA, meaning your salary is paid directly into your UBA account.
• Your employer must be on the approved list of organizations for Personal Loans
•  You’ll need to provide certain documents like a completed loan application form, valid identification, proof of employment, and bank statements.

You can also read:How UBA Click Credit Loan and Instant Bills Pay Works

What documents am I required to provide to obtain UBA Personal loan

To obtain a UBA Personal Loan, you will generally need to provide the following documents:

Mandatory Documents:

1. You can obtain this from a UBA branch or download it from their website.
2. Valid mean of ID This could be your international passport, national driver’s license, national ID card, or voter’s card.
3. This is a letter from your employer confirming that your salary will be paid directly into your UBA account.
4. Duly accepted offer letter or employee inquiry form: The offer letter should contain your name, job description/position, nature of employment (permanent or contract), and job status (confirmed or unconfirmed).
5. Copy of your staff ID: This helps verify your employment with the company.
6. A copy of your pay slip and bank statement of account indicating salary inflows in the last 6 months.
7. A letter of awareness from your current employer.

Requirements

Before you can apply for UBA personal loan, you need to provide the following documents as requirements

1.Functional savings or current salary account
2.Duly completed loan application form.
3.Valid means of Identification (international passport, national driver’s license, national id card and voters card).
4.Employer’s undertaking to domicile salary with UBA.
5.Duly accepted offer letter or employee inquiry form (The offer letter should contain 6.Employee Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); Employee Job Status (Confirmed or unconfirmed).
7. Copy of the obligor’s staff ID.

Also read: How to apply for UBA salary advance/Payday loan,Asset Finance and personal loan

How to apply for UBA Bank personal loan

UBA offers various types of personal loans, and the application process might differ slightly depending on the specific loan you’re interested in. However, here’s a general overview of how to apply for a UBA Personal Loan:

1. Check Eligibility:

Before you begin, ensure you meet the eligibility criteria for the loan you want. Generally, you’ll need:

• A functional savings or current salary account with UBA.
• A valid means of identification (International Passport, National Driver’s License, National ID Card, or Voter’s Card).
• If employed, your employer must provide an undertaking to domicile your salary with UBA.
• A duly accepted offer letter or employee inquiry form.

2. Choose Your Application Method:

You can apply for a UBA Personal Loan through the following channels:

• Online Application (for existing customers):

  • Log in to your UBA Internet Banking account or the UBA Mobile App.
  • Navigate to the “Loans” section and select the type of personal loan you want.
  • Fill out the online application form and submit it.

• Branch Visit:

  • Go to your nearest UBA branch.
  • Request a Personal Loan application form from a customer service representative.
  • Fill out the form and submit it along with the required documents.

• Contact Your Relationship Manager:

  • If you have a dedicated relationship manager, you can contact them for assistance with the application process.

3. Provide Required Documents:

Depending on the loan type and your employment status, you may need to submit additional documents, such as:

• Copy of your pay slip and bank statement of account for the last six months.
• Letter of awareness from your current employer (if applicable).
• Business registration documents and proof of income (if self-employed).

4. Await Approval and Disbursement:

UBA will review your application and documents. If approved, the loan amount will be disbursed to your UBA account.