UBA Quick Loan Code: How To Apply For UBA Loan
Are you in need of reliable funding to support your business or personal goals? United Bank for Africa (UBA) offers a variety of loan products tailored to meet diverse needs.
Whether you’re looking to expand your business, renovate your home, or pay for your child’s education, UBA loans provide flexible repayment terms and competitive interest rates.
In this article, we’ll explore the range of UBA loan offerings, their benefits, requirements, and how to apply using the USSD code. Let’s dive in!
About UBA Loans
UBA loans encompass various products designed to offer financial solutions for personal and business needs. As one of Africa’s leading financial institutions, UBA provides loans with flexible repayment terms and competitive interest rates, including personal loans, salary advances, education loans, asset financing, and loans for small and medium enterprises (SMEs).
Whether you need funds for business expansion, home renovation, education, or unexpected expenses, UBA loans offer quick and hassle-free financing to help you achieve your financial goals.
Benefits of Using UBA Loans
UBA loans are designed with customer needs in mind, offering several benefits:
- Competitive Interest Rates: Borrowing is made more affordable with our attractive rates..
- Variety of Loan Products: Options tailored for specific uses.
- Flexible Repayment Terms: Convenient and adaptable to your financial situation.
Advantages of UBA Loans
- High Loan Amounts: Salary earners can access up to 10 million naira.
- Support for Civil Servants: Helps federal and state employees manage cash flow issues.
Disadvantages of UBA Loans
- Strict Eligibility Criteria: Certain requirements must be met.
- Lengthy Application Process: Can take time to complete.
- Not for Ongoing Expenses: Best for specific, one-time needs.
- Risk with Secured Loans: Collateral may be required.
How to Apply for UBA Loans
To apply for a UBA loan, you have several options:
- Online Application: Complete the UBA Online consumer loan application form (PDF format) and submit it to a UBA branch.
- USSD Code: Apply using the UBA USSD code, which we’ll discuss in detail.
If you have any questions about these loan options or need assistance with your application, visit a UBA branch or call customer service for more information.
UBA Loan Products, Features, and Requirements
UBA offers a range of loan products to suit various needs, including:
- Personal loans
- Working capital loans
- Health loans
- School loans
- Loans for senior citizens
These products come with competitive interest rates and flexible repayment terms, accessible through UBA’s online banking platform or USSD code. Let’s explore these loan products in detail.
1. Personal Loan
UBA’s personal loan helps salaried individuals cover expenses such as medical bills, home improvements, or funding a side hustle.
Features and Benefits:
- Repayment Period: Up to 60 months
- Interest Rate: Attractive rates, subject to market conditions
- Management Fee: One-off fee of 1%
- Loan Amount: Up to 10 million naira
- Debt Service Ratio: Access up to 50% of your debt service ratio (DSR)
Requirements:
- A UBA savings or salary account
- Completed loan application form
- You will need valid identification such as a passport, driver’s license, national ID, or voter’s card
- Employer’s undertaking to domicile salary with UBA
- Staff ID copy
How to Apply:
- Complete the application form and take it, along with the required documents, to your nearest UBA branch for submission.
- Upon approval, receive an offer letter with loan terms.
- Accept the offer and the funds will be disbursed into your UBA salary account.
2. Working Capital Loan
UBA’s working capital loan assists business owners with cash flow and business expansion, offering up to ₦50 million.
Features and Benefits:
- Loan Amount: Up to 50 million naira
- Repayment Period: 12 months
- Special Rates: For women-owned businesses
- Loan Types: Available as an overdraft or term loan
Requirements:
- Business registered for at least one year
- You must have an active account with UBA for a minimum of three months
3. Health Loans
UBA’s healthcare loan supports registered hospitals, pharmacies, medical labs, and other healthcare businesses with funding solutions.
Features and Benefits:
- Short-term Financing: Up to ₦5 million, repayable within 12 months
- Property Expansion and Asset Acquisition: Up to ₦50 million with a 36-month repayment period
Requirements:
- Business registered for at least one year
- You must have an active account with UBA for a minimum of three months
- Relevant regulatory licenses
4. School Loan
UBA offers financing for privately-owned registered schools’ working capital, asset, and mortgage needs.
Features and Benefits:
- Short-term Loan: Up to ₦5 million, payable over 12 months
- Asset Finance: Up to ₦20 million, repayable over 36 months
Requirements:
- School operational for at least two years
- Government approval and necessary authorizations
- Your business must be registered for at least one year to qualify
- You must have an active account with UBA for a minimum of three months
5. Loans for Senior Citizens
UBA’s senior citizen loan caters to pensioners aged 55 to 70, offering up to ₦10 million for retirement projects and financial needs.
Features and Benefits:
- Repayment Period: 36 months
- Interest Rate: Subject to market conditions
- Management Fee: One-time fee of 1%
- Credit Life Insurance: Covers death, disability, and critical illnesses, with a premium of 1.6%
Requirements:
- Active UBA account
- Pension identification number
- Minimum net pension fund of ₦100,000 per month
- Valid Nigerian ID
UBA Loan Interest Rate
UBA offers a wide range of loan products with interest rates ranging from 19% to 30% per annum.
UBA Loan Calculator
The UBA loan calculator is an online tool for estimating your loan payments. The loan calculator asks for details like the loan amount, interest rates, loan duration, and monthly repayments. It then calculates and displays your monthly payments, total payments, and total interest.
UBA Quick Loan Code
To apply for a UBA loan using the USSD code, dial *919*28#.
UBA Loan Customer Care Contact Details
- Head Office Address: UBA’s Head Office is located at 57 Marina, Lagos Island, Lagos State.
- Contact Numbers:
- (+234) 01-2808822 (2808UBA)
- (+234) 01-6319822
- (+234) 07002255-822 (0700-CALL-UBA)
- Email: cfc@ubagroup.com
Frequently Asked Questions
1. What is the interest rate for UBA’s Click Credit?
The interest rate for UBA’s Click Credit changes depending on factors like the loan amount and how long you plan to repay it. For the most current rate, check UBA’s latest terms or get in touch with customer service.
2. Can I apply for a UBA loan without visiting a branch?
Yes, you can apply for Click Credit via USSD code, mobile app, or through Leo. However, for personal loans and specific products, a branch visit may be necessary.
3. What are the repayment options for UBA’s Personal Loan?
Repayment terms for UBA’s Personal Loan are flexible, depending on the loan amount and your financial profile.
4. Can UBA loans be repaid ahead of schedule?
Yes, UBA typically allows early repayment. Check for any early repayment fees or penalties before proceeding.
5. Can non-UBA customers apply for Click Credit?
Click Credit is primarily for UBA account holders. Non-UBA customers need to open an account and maintain consistent activity to access Click Credit.
6. Can a student get a loan from UBA?
Yes, UBA offers student loans to cover school needs.
7. Does UBA bank give loans to their customers?
Yes, UBA offers loans to customers with active and regularly used accounts.
8. Can I borrow money from UBA without a salary account?
No, your UBA account must be your salary account for at least three months.
9. What is the UBA quick loan code?
You can easily apply through UBA USSD Code, *919*28#.
Bottom Line
A UBA loan can be a viable option for those in need of financial assistance. Known for competitive interest rates and flexible repayment options, UBA is a reliable lender. However, it’s important to consider your financial situation carefully and only borrow what you can afford to repay. Make sure you read and fully understand the terms and conditions before you apply.