Are you looking to secure a loan from UBA Bank in Nigeria? This comprehensive guide will walk you through the process of how to borrow money from UBA Bank, whether you’re an account holder or not. UBA Bank offers a variety of loan products to suit different needs, all with competitive interest rates and flexible repayment terms.
If you’re a salary earner and you do not own a UBA account, you can get up to 10 million naira loan from UBA to meet your financial needs by applying for the UBA personal loan direct which provides access to finance to help federal and state civil servants meet their financial needs in times of stiff cash flow.
If you want to borrow money from UBA then one of the UBA Loan products is your best bet. While Different loans from UBA are available for different uses, they are convenient and have competitive interest rates and flexible repayment terms.
See: How to Register for UBA Internet Banking
How to Borrow Money from UBA Bank
You can borrow money from UBA Bank using multiple channels:
1. Borrow Money from UBA Bank App
You can borrow money from UBA Bank in Nigeria using the UBA mobile App by following these steps:
- Download the UBA mobile app from the Play Store or Appstore
- Register or log in to the app using your UBA Bank account mobile banking details.
- Next, Select the Credit feature on your UBA app dashboard
- Enter the loan amount that you desire and other required information and Click Submit.
- You’ll be notified if your UBA loan application was successful or not.
2. Borrow Money from UBA Bank with Code
To borrow money from UBA bank using the USSD code just dial *919*28# using the phone number linked to your UBA mobile banking (Bank account),
3. Borrow Money from UBA Bank Branch In-Person
To borrow money from UBA, you need to apply for a UBA loan, Here are the steps to take:
- Visit any UBA Bank Branch and decide which UBA loan is suitable for you
- Complete a loan application form and Submit it to any UBA bank
- Execute an offer letter detailing the loan terms and requirements
- After the loan has been approved, the loan will be disbursed into your account.
Types of UBA Loans
Wondering which UBA loan is right for you? Here’s a list of UBA’s loan offerings:
1. UBA Personal Loans
The UBA Personal Loan lets you borrow up to N30 million. This UBA loan has a flexible repayment period of 48 months at a highly competitive interest rate.
The UBA Personal Loan is designed for salary earners who want to meet their financial needs and live their life dream.
You can use this loan to cover medical bills, make home improvements, give your side hustle a little boost, pay for a course, and so much more!
More features of the UBA Personal Loan include:
- One-off management fee of 1%
- Minimum loan amount of N100,000
- Access up to 50% of your debt service ratio(DSR)
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Requirements
- Functional savings or current salary account
- Valid means of Identification (Passport, Driver’s license, national ID card and voter card)
- A completed loan application form.
Employer’s undertaking to domicile salary with UBA - Duly accepted offer letter or employee inquiry form (The offer letter should contain the
Employee’s Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); and Employee Job Status (Confirmed or unconfirmed) Copy of the obligor’s staff ID.
2. UBA Personal Loan Direct
With the UBA Personal loan direct, Salary earners who do not have a UBA account can access up to N10 million Naira in funds.
Some benefits of this loan include:
- A Loan repayment period of 60 months
- Attractive interest rate (based on floating terms subject to changes in money market conditions during the period of the loan)
- One-off management fee of 1%
- Access up to 50% of your debt service ratio(DSR)
Requirements for UBA Personal Loan Direct
- Duly completed loan application form
- Valid means of Identification (International Passport, Driver’s license, national ID card and voter card)
- Copy of customer’s staff ID
- Pay slips or bank statements of account reflecting salary inflows in the last 6 months
- Customer’s instruction letter
How to Apply for UBA Personal Loan Direct
To apply for the UB personal loan directly, follow these steps:
- Visit any UBA branch to complete a loan application form
- Submit the completed loan application form with the required documents at any UBA branch
- Execute an offer letter detailing the loan terms and requirements, following loan approval
- The Loan will be disbursed to you.
3. UBA Seniors Citizen Loan
The UBA Senior Citizen Loan is designed for Pensioners (55- 70 years) in Nigeria.
Pensioners can get up to N10 million from UBA with this loan product.
Convenient repayment period of 36 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) The maximum loan amount is N10 million One-off management fee of 1% Credit Life Insurance – 1.6% covering Death, Permanent Disability
Requirements
A functional UBA account A pension Identification number 3-months consistent pension remittance through UBA - The minimum net pension fund should not be less than N100,000 monthly
limit for customers is 55-70 years A valid Nigerian ID (Drivers licence, International passport, NIMC, Voters card)
How to Appl
Here’s how to apply for UBA Seniors Citizen Loan for Pensioners in Nigeria:
Submit a completed loan application form along with other required documents at any UBA branch nationwide. Sign an offer letter detailing the loan terms and Conditions. - When the loan is approved it will be
disbursed into the Customer’s UBA account
4. UBA Asset Finance
The UBA Asset finance loan products let you get a loan to finance the purchase of household appliances, alternative power solutions, smartphones, furniture, laptops, inverters, generators, and so on.
The UBA Asset Finance loan repayment period is 24 months.
Some of the Benefits of The UBA Asset Finance Loan are:
- Access to a wide array of reputable dealers/retailers
- Attractive interest rate
- Asset finance has a Maximum loan amount of N3 million and a minimum loan amount of N35,000
- Minimum equity contribution of 30%
Requirements for UBA Asset Finance
- An active savings or current salary account
- A 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).
- A Copy of the customer’s staff ID.
How to Apply UBA Asset Finance
- Get a pro forma invoice (PFI) for preferred items from any approved vendor
- Then visit a UBA branch to complete a loan application form
- Execute an offer letter detailing the loan terms and requirements, following approval
- Pick up preferred items from the vendor
5. UBA FX Cash-Backed Loan
This loan product lets you get a Naira loan with your FX deposits.
Some of the features and benefits of UBA FX Cash-Backed Loan:
The maximum loan amount is N10 million (A Maximum of 85% of FX Savings or deposit value calculated at the Bank’s prevailing rate (buy rate) Repayment period of 36 months with 0.5% interest on the FX deposit One-off management fee of 1%
Eligibility and Requirements
- A Funded FX account
- Duly completed loan application form
- Valid means of Identification (international passport, national driver’s license, national ID card and voter card)
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How to Apply for UBA FX Cash-Backed Loan
Click here the loan request form - Then
Visit a UBA branch with all the necessary documentation to complete your loan application Sign an offer letter containing the loan terms and conditions after the loan has been approved The approved loan amount will be disbursed into your UBA naira account.
5. UBA Auto Loan
The UBA Auto loan lets you buy your first car or even upgrade to a higher model.
The car brands you can get with the UBA auto loan are Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia and Volkswagen.
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Some of the features and benefits of the Auto loan from UBA are:
- Access to reputable auto dealers
- Repayment terms of up to 48 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)
- Maximum loan amount of N15m
- Minimum equity contribution of 30%
- Mandatory comprehensive insurance and vehicle tracking
Requirements for UBA Auto Loan:
- Functional savings or current salary account
- Duly completed loan application form
- Valid means of Identification (International Passport, 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 customer’s staff ID.
How to Apply for UBA Auto Loan
To apply for a UBA auto loan, follow these steps:
- Visit any of the approved auto vendor stores to obtain a Pro-forma invoice (PFI) for preferred items
- Visit a UBA branch to complete a loan application form
- Execute an offer letter detailing the loan terms and requirements, following approval of the loan
- Pick up your preferred automobile from the auto vendor.
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