UBA Salary Advance Loan scheme can be divided into two. They are; Personal Loan and Overdraft though both are mainly recognized as payday loan scheme.
A personal loan is an uncollaterised loan accessible to staff of approved companies, whose salary accounts are domiciled with UBA.
You will be given you the freedom to spend a little more on what you really want. You may need some extra cash to fix your car, pay medical bills or take care of other exigencies. How you chose to use your loan is up to you.
WHO CAN APPLY FOR THIS LOAN?
Anyone with a UBA salary account
Feature of the UBA Salary Advance Loan
- No deposit and invoices are required
- Fast, simple and convenient
- Convenient repayment terms
- Competitive interest rates
What are the other fees to be paid on UBA Personal Loan?
No hidden charges, No management fee
What is the minimum amount that can be borrowed under the scheme?
Once the requirements are met, the applicant can borrow a minimum of N100,000 and the maximum is N30million.
How many times can I request for this loan?
As many times as you may require, as long as you have not exceeded your eligible limit.
Requirements of UBA Salary Advance Loan:
- Yes, an applicant must not be less than 18 years at loan application date and should not be older than 55 years at loan maturity date.
- Applicant must maintain an active salary account with UBA.
- Customer must not have a history of dud cheques.
- Customer must also have a satisfactory credit report.
How can you apply for Personal Loan?
Complete a UBA Consumer Loan Application form which you may download here or pick up from any of our branches
Submit your application to the customer service officer in your branch
A short term facility that allows you overdraw a maximum amount of N3 million on your current account for up to 6 months.
Overdraft was also launched by UBA to meet the needs of its numerous depositors. It is a short-term facility that allows you to overdraw a maximum amount of N3 million on your current account for up to six months.
Who are eligible for this personal overdraft?
- Executives, partners and middle level management staff of reputable organisations in the private or public sector who are confirmed and earn an after tax annual income of N5million
- Individuals whose salaries must have been paid through UBA for at least 3 months
- UBA account holders
- Individuals who do not have a history of returned cheques due to insufficient funds
Benefits of Overdraft
- By having to repay 5% every month till the end of the 6 months tenor when you have to repay the total outstanding, you are assisted in managing your finances.
- Also gives you the money you need when you do not have sufficient funds in your account.
- Considerate, structured and convenient terms of repayment
- Competitive interest rate
- Convenient terms of repayment
- You repay only 5% of the amount borrowed every 30 days when your salary is paid.
How To Apply For Overdraft
Complete a UBA Consumer Loan Application form which you may download online or pick up from any of our branches.
Submit your application to the Customer Service Officer in a UBA Bank close to you.