We’ve all been struck by the financial crisis at some point in our lives, right?. Are you stranded due to a lack of enough money to fund your business?
Are you tired of renting a house and want to build your family home? Are you wondering where you will get money to pay for a hospital bill?
It could be that your children or even siblings need money for their education, school fees, uniforms, and pocket money, or you want to meet your urgent personal needs and don’t have the money with you.
And you are beating yourself up over where you will get that money? Well, even if you don’t have an emergency yet, you may need this information when you get in a crisis at some point in your life.
There is no need to worry anymore as the UBA bank in Nigeria provides loans at a meager interest rate to every person who earns a salary.
This article will help direct you on the major requirements needed to qualify for a loan from UBA bank in Nigeria.
What Are The Requirements Needed To Access UBA Loan In Nigeria
The following are the requirements for qualification for a UBA bank loan in Nigeria; You have to make sure you meet them first:
• You should have an active saving or current salary account
• Have a completed loan application form
• Valid means of identification that is a national identification card, national driver’s license, international passport, or a voters card
• The employer undertaking to domicile salary with UBA
• You should also have an employment inquiry form, which should include, an employee name, employee job description/position, nature of employment (i.e., permanent or contract), and finally, employee job status(i.e., confirmed or unconfirmed)
• You will need a copy of the obligor’s staff ID
After making sure you have all the requirements mentioned above, you are halfway through getting the loan.
You will then be required to follow the steps down below to get a UBA bank loan.
Steps To Follow To Apply For UBA Loan In Nigeria
1. You should give out a correctly completed loan application form including the supporting documents at any UBA branch
2. Execute an offer letter consisting of information about the loan term and requirements, following conformation
3. Once you have followed these steps, the loan will be sent into your salary account based on the UBA Bank
When you do the above, you will get your loan, and you will no longer have to worry about renovating your house, paying your school fees, or Opening a business because UBA bank got your back.
What Are The Benefits Of A UBA Loan
UBA loan has a couple of benefits. They include the following;
-it has a favorable repayment period of sixty months
– it comes with a low interest rate of 20%
– also have a 1% off management fee
– you can borrow as much as thirty million nairas and as low as 100k naira
– you can also get up to 50% of your debt service ratio (DSR)
How Will I Know If I Am Qualified For UBA Loan
To be eligible to access a loan at UBA bank Nigeria you should ensure the following;
1. make sure you are a verified staff of your organization
2. You must have an active UBA account
3. Ensure your employer is in the verified list of organizations for Personal Loans
How Long Does it Take For a UBA bank Loan To Be Processed
The UBA Nigeria loan takes about a maximum of two days for the money to be transferred into your account. This is after all the documents have been verified.