United Bank Of Africa has come up with 7 new loans schemes which irrespective of your age , occupation or bank can access any of these loans . Below are the 7 UBA loans you can access , their requirements and moratoruim                                        

PERSONAL LOAN DIRECT

The UBA Personal Loan Direct is a financing option for individuals who receive a salary and do not have a UBA bank account. This loan allows borrowers to borrow up to N10 million

Features and Benefits:

• Repayment period of up to 60 months
• Attractive floating interest rate that may change based on market conditions
• One-time management fee of 1%
• Maximum loan amount of N10 million
• Access to up to 50% of your debt service ratio (DSR)

Eligibility Criteria:

• Completed loan application form
• Valid identification, such as an international passport, national driver’s license, national ID card, or voter’s card
• Staff ID copy
• Pay slips or bank statements showing salary income for the past 6 months
• Customer instruction letter

To Apply:

• Visit a UBA branch and fill out a loan application form
• Submit the completed form and supporting documents at any UBA branch
• If the loan is approved, you will need to sign an offer letter outlining the terms and requirements of the loan
• The loan will be deposited into the borrower’s salary account with the bank.

UBA PERSONAL LOAN

This loan is designed for salary earners who operate account with UBA to meet to meet with their medical bills , make home improvements , boost a business , pay for self development cost and much more

• Product Features & benefits:
  • Convenient repayment period of 60 months
  • Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
  • One-off management fee of 1%
  • Maximum loan amount of N30million
  • Minimum loan amount of N100,000
  • Access up to 50% of your debt service ratio(DSR)
• Requirements:
  • Functional savings or current salary account
  • Duly completed loan application form
  • Valid means of Identification (international passport, national driver’s license, national ID card and voters card)
  • Employer’s undertaking to domicile salary with UBA
  • Duly 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))
  • Copy of the obligor’s staff ID

UBA AUTO LOAN

This UBA loan will enable you buy your dream car . It does not matter whether you want to buy a new car or upgrade , UBA AUTO LOAN covers you .

 Approved brands are Toyota, Honda,
Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia and Volkswagen.

Product Features:

• Access to reputable auto dealers/retailers
• Repayment terms of up to 48 months
• Interest rate that may fluctuate based on market conditions
• Maximum loan amount of N15m
• Minimum equity contribution of 30%
• Comprehensive insurance and vehicle tracking required

Benefits:

• Convenient loan terms
• Attractive interest rate
• Opportunity to purchase a vehicle from reputable dealers/retailers

Eligibility Criteria:

• Active savings or current salary account
• Completed loan application form
• Valid identification (passport, driver’s license, national ID, voter’s card)
• Employer’s commitment to deposit salary with UBA
• Accepted offer letter or employee inquiry form, including employee name, position, employment type (permanent or contract), and confirmation status
• Customer’s staff ID

How to Apply:

• Obtain pro-forma invoice from approved auto vendor store for desired vehicle
• Visit UBA branch to complete loan application form
• Sign offer letter outlining loan terms and requirements upon approval of loan
• Pick up selected vehicle from auto vendor.

UBA SENIOR CITIZEN LOAN

This loan is designed for pensioners who are between the ages of 55 – 70 . With this scheme you can access up to 10 million Naira to start a retirement project , tour round the world and much more Top of Form

Bottom of Form

/ Our loan product offers several benefits, including:

• A repayment period of 36 months
• A floating interest rate that may vary based on money market conditions
• A maximum loan amount of N10 million
• A one-time management fee of 1%
• The option to purchase credit life insurance, which covers death, permanent disability, and critical illness for an additional fee of 1.6%

To be eligible for this loan, you must:

• Have a functional UBA account
• Have a pension identification number
• Have a consistent pension remittance through UBA for at least three months
• Have a minimum net pension fund of at least N100,000 per month
• Be between the ages of 55 and 70
• Have a valid Nigerian ID, such as a driver’s license, international passport, NIMC card, or voter’s card

To apply for this loan, you will need to:

• Submit a completed loan application form and any required documents at a UBA branch near you
• If your application is approved, you will be asked to sign an offer letter outlining the loan terms and conditions
• The loan amount will be disbursed into your UBA account.

Top of Form

UBA ASSET FINANCE

The UBA Asset Finance program offers financing for the purchase of household appliances, alternative power solutions, and other assets such as smartphones, furniture, and laptops. Some key features and benefits of this program include:

• Wide range of reputable dealers and retailers to choose from
• Convenient repayment period of 24 months
• Attractive floating interest rate, subject to changes in money market conditions
• Maximum loan amount of N3 million
• Minimum loan amount of N35,000
• Minimum equity contribution of 30%

To be eligible for this financing, you must meet the following criteria:

• Have a functional savings or current salary account
• Provide a valid form of identification, such as an international passport, driver’s license, or national ID card
• Have an employer’s undertaking to domicile salary with UBA
• Complete a loan application form
• Provide an accepted offer letter or employee inquiry form
• Provide a copy of your staff ID

To apply for this financing, follow these steps:

1. Get a pro-forma invoice for your preferred items from an approved vendor
2. Visit a UBA branch to complete a loan application form and execute an offer letter detailing the loan terms and requirements
3. Once your loan has been approved, pick up your preferred items from the vendor

UBA FX CASH BACKED LOAN

• To apply for a loan from UBA, you must have a funded domiciliary account and a funded FX account
• You must also provide a valid form of identification, such as an international passport, national driver’s license, national ID card, or voters card
• The loan has a maximum amount of N10 million and a repayment period of 36 months
• The interest rate is subject to change based on money market conditions, and there is a one-off management fee of 1%
• You can apply for the loan by downloading and filling out the loan request form, visiting a UBA branch in person with the necessary documentation, or sending an email to diasporasupport@ubagroup.com if you live outside Nigeria
• If your loan is approved, you will need to sign an offer letter containing the loan terms and conditions, and the approved loan amount will be disbursed into your UBA naira account
• If you do not already have a domiciliary account, you can open one online if you live in Nigeria or abroad.

INSURANCE PREMUIM FINANCING

• With UBA Insurance Premium Financing offer, we make it easy for you to protect your assets. We will pay for the insurance coverage and you can repay the loan over a period of 12 months.
• Key features and benefits of this offer include:
  • Convenient repayment period of 12 months
  • Attractive floating interest rate
  • Maximum loan amount of N5 million for registered businesses and N1 million for individuals
  • Minimum loan amount of N50,000
  • Minimum equity contribution of 2 months’ instalments
• To be eligible for this offer, you will need to meet the following criteria:
  • For individuals:
    • Functional bank account
    • Evidence of ownership of the asset to be insured
    • Duly completed loan application form
  • For SMEs and corporate organizations:
    • Functional business account
    • Duly completed loan application form
    • Board resolution
    • Company and director information
    • List of assets to be financed
• To apply for this offer, you can follow these steps:
  • Visit any participating insurance company to obtain an invoice for premium payment
  • Visit a UBA branch to complete a loan application form and submit the necessary documents
  • Fund your account with the required equity contribution
  • The loan will be credited to your account and transferred to the insurance company’s account along with the equity contribution
  • The insurance company will send proof of payment to you

Bottom of Form