The UBA Personal Loan product is designed to support all salary earners in meeting their lifelong dreams.
With this product, you can cover medical bills, make home improvements, give your side hustle a little boost, pay for training to improve yourself, and do much more!
The product offers a convenient repayment period of 60 months.
Some of the features of the loan include.
1. One-off management fee of 1%.
2. Maximum loan amount of N30million.
3. Minimum loan amount of N100,000.
4. Access up to 50% of your debt service ratio (DSR).
Requirements
To access the loan, you will need.
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 voter’s card).
4. Employer’s undertaking to domicile salary with UBA.
5. Duly accepted offer letter or employee inquiry form.
6. Nature of Employment (Permanent or Contract).
7. Employee Job Status (Confirmed or unconfirmed).
8. Copy of your staff ID.
FAQs About UBA Personal Loan
What is the maximum amount I can borrow?
The maximum amount you can borrow from UBA for a Personal Loan is NGN30 million.
What is the interest rate on UBA Personal Loans?
The interest rate on UBA Personal Loans is 17% per month, which will be on floating terms subject to changes in money market conditions, for the period of the loan.
What are the repayment terms for UBA Personal Loans?
The repayment terms for UBA Personal Loans are up to 60 months.
What is the USSD Code to take out a loan from UBA?
The code used to get loans from UBA is *919#.
What are the fees associated with UBA Personal Loans?
There is a one-time processing fee of NGN10,000 associated with UBA Personal Loans. There may also be late fees if you do not repay your loan on time.
How long does it take to get approved for a UBA Personal Loan?
The approval process for UBA Personal Loans typically takes 2-3 business days.
What happens if I am unable to repay my loan on time?
UBA may charge you late fees if you cannot repay your loan on time. UBA may also take further action, such as garnishing your wages or repossessing your collateral.
What are the benefits of taking out a UBA Personal Loan?
There are several benefits to taking out a UBA Personal Loan. These include:
1. Convenient repayment period of up to 60 months.
2. One-off management fee of 1%.
3. Maximum loan amount of N30 million.
4. Access up to 50% of your debt service ratio (DSR).
What are the risks of taking out a UBA Personal Loan?
There are also some risks associated with taking out a UBA Personal Loan. These include:
● Late fees
● Possible damage to your credit score
How to Apply for UBA Personal Loan on nairaCompare
1. Click ‘UBA Personal Loan’.
2. Read through the information on the product page to get more details about the product.
3. Click on ‘Apply’ to begin the application process.
4. Fill in your personal details.
5. Submit your application form for review and processing.
6. After a successful review of your application, you will receive an email notification confirming your application.
If the bank approves your application, you will receive the money in your bank account within 24 hours.
Visit nairaCompare to know more about the UBA Personal Loan and other loans available.
