United Bank for Africa (UBA) continues to offer a diverse range of loan products tailored to meet the financial needs of its customers. Understanding the specific requirements for each loan type is essential for a successful application. Below is an overview of UBA’s key loan offerings and their respective eligibility criteria:
1. Personal Loans
UBA provides collateral-free personal loans of up to ₦30 million with repayment periods of up to 36 months.
Eligibility Requirements:
- Employment Status: Applicants should be in confirmed employment.
- Salary Domiciliation: The applicant’s salary must be domiciled with UBA.
- Age: Applicants must be between 18 and 59 years old.
- Documentation: A completed loan application form, a valid means of identification, and recent payslips are required.
2. Senior Citizens Loan
Designed to support pensioners aged 55 to 70, this loan offers up to ₦10 million for various purposes, including starting a retirement project or traveling.
Eligibility Requirements:
- Age: Applicants must be between 55 and 70 years old.
- Pension Account: The pension account must be domiciled with UBA.
- Pension Consistency: A minimum of three months of consistent pension payments into the UBA account is required.
3. Auto Loans
UBA’s auto loan product enables customers to purchase their desired vehicles with convenient repayment plans.
Eligibility Requirements:
- Employment Status: Applicants should be in confirmed employment.
- Salary Domiciliation: The applicant’s salary must be domiciled with UBA.
- Age: Applicants must be between 18 and 59 years old.
- Documentation: A completed loan application form, a valid means of identification, recent pay slips, and a proforma invoice from an accredited car dealer are required.
See also, Access Bank Loan Requirements Update
4. Overdraft Facility
This short-term facility allows customers to overdraw their current account for up to six months, with a maximum amount of ₦3 million.
Eligibility Requirements:
- Account Tenure: Applicants must have an active UBA current account.
- Salary Domiciliation: The applicant’s salary must be domiciled with UBA.
- Documentation: A completed loan application form and a valid means of identification are required.
5. SME Loans and Advances
UBA offers tailored loan products to support small and medium-sized enterprises (SMEs) in various sectors.
Eligibility Requirements:
- Business Registration: The business must be duly registered.
- Business Plan: A viable business plan or proposal is required.
- Financial Records: Up-to-date financial records and statements must be provided.
- Collateral: Depending on the loan amount and type, collateral may be required.
6. Mortgage Loans
UBA’s mortgage loans facilitate home ownership through a hassle-free process.
Eligibility Requirements:
- Employment Status: Applicants should be in confirmed employment or self-employed with a stable income.
- Salary Domiciliation: For salaried individuals, the salary must be domiciled with UBA.
- Age: Applicants must be between 18 and 59 years old.
- Documentation: A completed loan application form, a valid means of identification, recent pay slips or financial statements, and property documents are required.
Conclusion
UBA is still dedicated to provide easily accessible and adaptable loan options to satisfy the wide range of demands of its clients. United Bank for Africa Loan Requirements: It is best to visit the official UBA website or get in touch with customer care directly for the most up-to-date information and comprehensive application procedures.
