UBA Personal Loan
Borrow up to ₦30m, flexible repayments up to 60 months, just 1% management fee. Ideal for salary earners. Attractive rates & quick approval.
The UBA Personal Loan offers a practical solution for Nigerian salary earners seeking flexible financing to meet their pressing needs. With loan amounts from ₦200,000 up to ₦30 million and a repayment period up to 60 months, borrowers have the room and time to manage repayments with comfort. An attractive one-off management fee of 1% and a competitive interest rate make this product stand out for those looking for affordable options.
Applicants should note that they must run a UBA salary or savings account and be confirmed staff with an employer on UBA’s approved list. Important documents required include a loan application form, valid ID, 6-month salary bank statements, and a letter of awareness from your employer. Once all documents are verified and the offer accepted, funds are deposited directly to your UBA salary account, ensuring a smooth process.
UBA Personal Loan Application: Step by Step
- Complete and submit the loan application form at any UBA branch
- Attach required documents (ID, bank statement, pay slip, etc.)
- UBA reviews your application and verifies documents
- Sign the offer letter once approved
- Loan funds are disbursed directly to your active UBA account
What We Like
The long repayment period of up to 60 months provides comfort for borrowers, allowing for manageable monthly payments. The maximum loan amount of ₦30 million is generous and can accommodate a range of financial needs, from education to business expansion to urgent personal expenses.
The quick processing once documentation is complete, and the transparent one-off management fee structure, are also positives that help applicants plan effectively without hidden surprises. The step-by-step process is straight-forward and suitable for busy professionals.
What Could Be Better
Eligibility is restricted to confirmed staff with UBA-approved employers, which limits access for self-employed and those with employers outside the approved list. Additionally, only UBA account holders are eligible, requiring newcomers to open an account before accessing the loan.
Documentation requirements, while standard, may feel cumbersome for first-time loan seekers, as they must secure employer letters and detailed statements. This may cause slight delays for those unprepared with their paperwork.
Our Verdict
For confirmed staff with established salary inflows through UBA, this personal loan is a reliable and flexible choice. The large loan amounts, lengthy tenure, and fair fees mean it will appeal to many looking for safe, bank-backed borrowing solutions. While eligibility is limited, those who qualify will likely find the process efficient and the terms attractive.