BANKING

How To Get UBA Bank Loan

Published

2 months ago

How To Get UBA Bank Loan

In today’s ever-changing financial space, getting access to funds is often the key that unlocks opportunities and fulfilling financial goals. Whether you aspire to start a new business, renovate your home, or address unforeseen financial challenges, securing a loan from a reputable institution such as the United Bank for Africa can be a vital step towards achieving your goals. United Bank for Africa (UBA) has consistently provided financial support to individuals and businesses across Africa throughout its years of operation as a financial institution: How To Get UBA Bank Loan.

In this guide we’ll discuss the process of obtaining a UBA bank loan, we will give you valuable insights into the types of loans offered by UBA, the criteria for eligibility you must meet, and the steps you need to follow to successfully apply for a UBA bank loan. UBA has an extensive network of banks and is committed to excellence, the bank offers a wide range of loan products tailored to various needs.

How To Get UBA Bank Loan

About UBA Bank

United Bank for Africa (UBA) has firmly established itself as a leading financial institution in the African banking industry. The bank has a rich history dating back to 1948 when it was established, UBA has consistently grown, adapted, and innovated to meet the evolving financial needs of businesses and individuals in Nigeria and across the African continent and beyond. United Bank For Africa is a large financial services group with financial assets valued at ₦8.5 trillion (US$20.1 billion), with shareholders’ equity of ₦724.1 billion (US$1.8 billion), as of December 2021.

Does UBA Bank Give Loan

Yes, United Bank of Africa provides several types of loans to millions of its eligible customers in Nigeria and across the continent of Africa. With UBA you can get loans for your business and individual needs.

Types of Loans Offered By UBA Bank

The bank offers several types of loans to customers, each loan product has its own goals and the target audience. The types of loans offered by UBA Bank include:

Personal Loan-direct: This loan is designed and targeted at salary earners to help them get by during times of stagnant or no cash flow, non-UBA bank customers can get this loan up to a maximum of ten million Naira.
Personal Loan: This is loan product is designed and targeted at UBA Bank customers who are salary earners to help such customers meet their life-long goals and dreams. With this loan, you can settle your medical bills and all other bills while not having your salary handy.
Click Credit: This is an instant loan product given to UBA Bank customers to help the customers to attend to financial emergencies. You can apply for this loan during emergencies using the USSD code *919*28#. With this loan product, you can get up to a million Naira loan as a salary earner. You can repay this loan within 12 calendar months with no hidden charges and at your convenience. You do not need paperwork for this loan.
Senior Citizens Loan: This is the type of loan given to senior citizens between the age of 50-75 years. This loan is targeted at pensioners to help them start a retirement project, travel or do any other things they wish to, you can get up to 15 million Naira in this loan scheme.
Auto Loan: This loan helps you to get a car without breaking the bank on your savings or take-home pay, with this loan you can get a brand new car or get an upgrade to your existing car. The approved vehicle brands for this loan are Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia and Volkswagen.
Asset Finance: This loan provides funds to finance the purchase of alternative power solutions, house appliances, and several other appliances and gadgets.
Insurance Premium Financing: This loan helps to pay your insurance to protect your assets against loss, while you pay back conveniently over a year.
UBA Corporate Loans: This loan is given to businesses, schools, health institutions and organisations that must be duly registered for not less than one year.

UBA Bank Loan Interest Rate

UBA offers loans to customers of the bank using varied interest rates depending on the type of loan you wish to collect from the bank. The interest rate of any of the United Bank for Africa loans you can get ranges from 2.5% per annum to up to 20% per annum or more in special circumstances.

UBA Bank Loan Eligibility

The eligibility requirements for the different types of loans offered by UBA Bank may vary slightly. The eligibility criteria for the different loan types are listed below:

Personal Loan-direct Requirements

You need to have a duly completed loan application form
have a valid means of Identification (international passport, national driver’s license, national ID card and voter card
Have a copy of the applicant’s staff ID
Pay slips or bank statements of account reflecting salary inflows in the last 6 months
Customer’s instruction letter

Personal Loan Requirements

Functional savings or current salary account
Duly completed loan application form.
Valid means of Identification (international passport, national driver’s license, national ID card and voter card).
Employer’s undertaking to domicile salary with UBA.
Duly accepted offer letter or employee inquiry form (The offer letter should contain the Employee’s Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); and Employee Job Status (Confirmed or unconfirmed).
Copy of the obligor’s staff ID

Click Credit Requirements

You need an active UBA Salary Account with a minimum monthly salary of at least ₦50,000

Senior Citizens Loan Requirements

A functional UBA account
A pension Identification number
3-months consistent pension remittance through UBA
The minimum net pension fund should not be less than N100,000 monthly
The age limit for customers is 50-75 years
A valid Nigerian ID (Drivers license, International passport, NIMC, Voters card)

Auto Loan Requirements

Functional savings or current salary account
Duly completed loan application form.
Valid means of Identification (International Passport, National Driver’s License, National ID Card and Voters’ Card).
Employer’s undertaking to domicile salary with UBA.
Duly accepted offer letter or employee inquiry form (The offer letter should contain the Employee’s Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); and Employee Job Status (Confirmed or unconfirmed).
Copy of the customer’s staff ID

Asset Finance Requirements

Functional savings or current salary account
Duly completed loan application form.
Valid means of Identification (International Passport, National Driver’s License, National ID Card and Voters’ Card).
Employer’s undertaking to domicile salary with UBA
Duly accepted offer letter or employee inquiry form (The offer letter should contain the Employee’s Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); and Employee Job Status (Confirmed or unconfirmed).
Copy of the customer’s staff ID

Insurance Premium Financing Requirements

For Individuals

Functional account
Duly completed loan application form
Evidence of ownership of an asset to be financed

For SMEs and Corporate Organizations

Functional business account
Duly completed loan application form
Board Resolution
Company and Director(s) Information
List of Asset(s) to be financed

UBA Corporate Loans

The business must have been registered for up to 1 year, 2 years if your organization is a school with evidence of bank statement showing two years of existence of the school
The business must have a banking relationship with UBA for a minimum period of 3 months.
The business must be registered and licensed by the relevant regulatory authorities.

UBA Bank Loan Application Process

The application process for the different types of loans offered by UBA Bank differs slightly depending on the loan type. The loan application steps for the various loan types are listed below:

Personal Loan-direct

Visit a UBA branch to complete a loan application form.
Submit a completed loan application form with supporting documents at any branch
Execute an offer letter detailing the loan terms and requirements, following loan approval
The loan will be disbursed into a salary account domiciled with the Bank

Personal Loan

Submit a completed loan application form with supporting documents at any branch
Execute an offer letter detailing the loan terms and requirements, following loan approval
The loan will be disbursed into a salary account domiciled with the Bank

Click Credit

Just dial *919*28# and follow the prompts thereafter
Send “Loan” to Leo on Instagram, WhatsApp, Apple messages, Facebook Messenger or Google Business Chat
Select the Click Credit feature on the UBA Mobile App

Senior Citizens Loan

Submit a completed loan application form along with other required documents at any UBA branch nationwide.
Sign an offer letter detailing the loan terms and Conditions
The loan amount will be disbursed into the customer’s UBA account.

Auto Loan

Visit any of the approved auto vendor stores to obtain pro-forma invoice (PFI) for preferred items.
Visit a UBA branch to complete a loan application form.
Execute an offer letter detailing the loan terms and requirements, following approval of the loan.
Pick up your preferred automobile from the auto vendor

Asset Finance

Get pro-forma invoice (PFI) for preferred items from any approved vendor
Then visit a UBA branch to complete a loan application form
Execute an offer letter detailing the loan terms and requirements, following approval
Pick up preferred items from the vendor

Insurance Premium Financing

Visit any of the participating insurance bodies to obtain an invoice for premium payment
Then, visit a UBA branch to complete a loan application form and also submit the required documents.
Fund your account with an equity contribution of 2 months’ instalments.
The loan will then be credited into your account and moved to the insurance’s account along with the equity contribution.
The insurance company will send proof of payment to you

Corporate Loans

To apply for this type of loan kindly ask to speak with the SME Team at any UBA branch closest to you.

Benefits of UBA Bank Loan

There are several pros to getting a UBA Bank loan depending on the type of loan you’re applying for, some of the benefits based on the loan type include:

Personal Loan-direct Pros

Convenient repayment period of up to 48 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
One-off management fee of 1%
Maximum loan amount of N10million
Access up to 50% of your debt service ratio(DSR)

Personal Loan Pros

Convenient repayment period of 60 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
One-off management fee of 1%
Maximum loan amount of N30million
Minimum loan amount of N200,000
Access up to 60% of your debt service ratio(DSR)

Click Credit Pros

Borrow up to N1 million
Get your loan in one minute
Convenient repayment option between 3- 12 months
Low-interest rate

Senior Citizens Loan

Convenient repayment period of 36 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
The maximum loan amount is N15 million
One-off management fee of 1%
Credit Life Insurance – 1.6% covering Death, Permanent disability and Critical

Auto Loan

Access to reputable auto dealers/retailers
Convenient repayment terms; up to 48 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
Minimum equity contribution of 30%
Mandatory comprehensive insurance and vehicle tracking

Asset Finance

Access to a wide array of reputable dealers/retailers
Convenient repayment period of 24 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
Minimum equity contribution of 30%

Insurance Premium Financing

Convenient repayment period of 12 months
Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
Maximum loan amount of N5million for registered businesses and N1million for individuals
Minimum equity contribution of 2 months’ Instalments

Corporate Loans

With this kind of loan, your business will have funds to expand grow and thrive

Cons of UBA Bank Loan

UBA Bank loan has a few downsides, some of which include:

Non-UBA bank customers have a limit of ten million they can borrow with more stringent requirements for the personal loan-direct loan product
Some loans are offered only to UBA customers of not less than 3 months. Such loans are the UBA corporate loans

Conclusion

United Bank for Africa has existed for more than seventy years and has served millions of people in its over seventy years of existence, helping businesses and individuals to meet their financial goals and dreams through access to much needed funds, by providing affordable and low-interest loans to them. Visit any UBA bank branch close to today to apply for a loan to to meet your financial goals.

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How the Logistics Sector Can Improve On Payment Collection In Nigeria

Published

3 hours ago

Christopher

How the Logistics Sector Can Improve On Payment Collection In Nigeria

The logistics sector in Nigeria continues to gather momentum, especially in the urban centers that are densely populated with people of varying demands. This business is a critical part of the supply chain as it collects, transports, and delivers products to customers. Hence making it a lucrative venture in Nigeria.

However, the advent of technology has amplified the logistics sector as it now tends to leverage digital tools to attract customers seeking to employ the service for product delivery to different parts of the country. This has increased online presence through websites and social media platforms like Instagram, Facebook, and X (Twitter).

How the Logistics Sector Can Improve On Payment Collection In Nigeria

Notably, the logistics sector already has a synergy with other sectors like the e-commerce industry, which is primarily populated by small and medium-scale enterprises (SMEs).

Therefore, its relevance becomes germane to fostering the customer experience of any business. This is because a timely delivery of products is the hallmark of any logistic business.

However, payment structure plays a significant role in the effectiveness and efficiency of the business as this propels it to pick up products and get them delivered to people. So, product delivery will always be delayed when a firm payment agreement between an SME and the logistic business is not met. While this can affect the reputation of the SME, it can also reduce the patronage of such logistics.

In light of bolstering the operation of the logistics sector in Nigeria, it is imperative to employ payment methods that are easy and simple to use such that it does not lead to delays that hamper related businesses. Therefore, Fincra has put in place sustainable payment innovation to boost the growth of the logistics business in the country.

Notable as one of the leading fintech companies in Nigeria, Fincra is a payment gateway committed to improving the payment strategy of different sectors in Nigeria, including the logistics business.

Ways Logistics Sector Can Collect Payments On Fincra

1. Virtual Account

Logistics businesses can create a naira (NGN) virtual account on Fincra, which enables them to collect payments from clients across Nigeria. This virtual account can be temporary in the instance of a one-off transaction or a permanent one, which can be used to collect payments like the local bank account.

This Fincra virtual account allows easy reconciliation and effective payment management for businesses and logistics.

2. Payment Link

There is a Fincra payment link that logistics businesses can quickly generate to collect payments from clients. This link can be customized and shared across various messaging tools – social media platforms and text messages. It includes all the necessary information, including the account details of the logistics business for their clients to make payment via bank transfer or cards.

3. E-wallet

This is using the Fincra wallet to collect payment by the logistic business. However, it is only conditioned that the other client has a Fincra account to facilitate this transaction. This is another effective way of collecting payments because it is simple and instant.

Therefore, logistics may need to create a Fincra account and encourage their clients to create the account to enable a seamless completion of payment without delay. This will be a win-win situation for both businesses.

4. Card Payment

This involves the use of credit or debit cards to make payments. As such, there is a Fincra POS terminal that logistics businesses can employ to collect card payments from their clients. This is a mode of agency banking designed by Fincra to increase the coverage for the payment system in Nigeria.

It facilitates an in-person transaction that ensures quick completion of payments between the logistics business and its clients.

Conclusion

Nigeria’s logistics sector is a booming economy, with many entities foraying onto the landscape. But as this sector continues to become competitive to stay afloat, it is important to adopt better payment strategies that would push the business to the fore of attracting more clients.

Fincra provides different options to collect payments for logistics businesses. You can take advantage of that when you create a Fincra account now.

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How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

Published

3 hours ago

Christopher

How E-commerce Businesses Can Build Trust With Fincra Payment Collection Methods In Nigeria

E-commerce is a burgeoning sector in Nigeria, with small and medium-scale businesses continuously entering the market to attract teeming online users who are potential customers. This can be owed to the widespread adoption of technology, which businesses are leveraging to grow sales.

Today, there is a proliferation of e-commerce platforms or stores across Nigeria designed to meet the purchasing needs of the larger Nigerian population. This has given rise to a competitive market with businesses adopting strategies that would give them a better position of generating and retaining leads (customers) in the dynamic business landscape.

There are many strategies e-commerce businesses employ in Nigeria and worldwide – from a user-friendly online storefront that is easy to navigate to a payment system at checkout. These are some significant factors customers consider to inform their buying decisions on an e-commerce platform.

We can not overemphasize the role of payment collection in e-commerce, as customers are always keen on ensuring that a system makes their payment at checkout seamless. This reinforces customers’ trust and confidence in completing their purchases on the e-commerce platform.

But, while bank transfers, card payments, and e-wallets are currently the popular methods of collecting payments in Nigeria, e-commerce businesses can harness different payment options on Fincra.

Payment Collection Methods On Fincra For E-commerce Businesses

Fincra is a leading fintech company in Nigeria that has become a trusted and reliable payment gateway for various business niches. As such, e-commerce businesses can use the payment options on Fincra or, better still, integrate with the payment API on the platform to ease the payment process on their respective platforms.

However, you can directly collect payments from customers across Nigeria on your Fincra account. You can achieve this with payment options that include:

Virtual account: this is a virtual naira account on Fincra that enables you to collect payment through bank transfers from your customers.

Payment link: there is a Fincra Payment Link, which is customizable – enabling you to share account details with product descriptions with customers on social or messaging platforms.

Direct API: this is a fully optimized payment system that provides a class array of different options on your e-commerce platform.

Checkout: a Fincra checkout can be tailored to your e-commerce platform, supporting your customers’ devices to provide an improved experience for your customers.

By and large, all these payment collection methods on Fincra are important to the payment strategy of any e-commerce business in Nigeria. They provide your company with a positive outlook to gain trust and confidence.

Benefits Of Payment Collection On Fincra By E-commerce Businesses

1. Low Fee

The fee is relatively low when you collect payments on the Fincra. It provides one of the industry’s best pricing such that you save more for your business while using the platform. This is with the understanding that the sole aim of business is to make profits. Therefore, Fincra is committed to maximizing your gains with its low fee structure on the platform.

2. Advanced Security

Fincra employs a state-of-the-art security system to keep your funds safe when collecting payments on the platform. It complies with industry standards to keep your financial information and funds from unauthorized access. Therefore, Fincra protects you from identity theft that could lead to a possible loss of funds.

3. Multiple Payment Methods

As a reputable payment gateway in Nigeria, e-commerce businesses can collect payment via different options that best suit them on Fincra. These are naira (NGN) virtual accounts, payment links, checkout, and direct API. Therefore, these make your business more trusted as you gain more customers.

Conclusion

People continue to use e-commerce platforms to buy their preferred products in Nigeria, even as others also offer a range of services. But the integral part of e-commerce is the payment system that is the best fit for customers. That is why these businesses need to use the various options on Fincra to collect payments in Nigeria.

You can create a Fincra account now to use different payment methods for your e-commerce business.

FINTECH

AAS TOKEN (AAST): The Power of Early Cryptocurrency Investment

Published

4 hours ago

Christopher

AAS TOKEN (AAST): The Power of Early Cryptocurrency Investment

In the dynamic landscape of finance, one phenomenon has consistently captured the attention of risk-takers and forward thinkers alike — the world of cryptocurrency. Stories of astronomical gains and heartbreaking losses fill the digital realm, but amidst this volatility, a strategy stands out: investing in cryptocurrency at launch. This article delves into the advantages of being an early adopter, exploring the potential for substantial profits and the unique benefits that come with it.

AAS TOKEN AAST The Power of Early Cryptocurrency Investment

The First Mover Advantage: The undeniable perk of diving into a new cryptocurrency at launch is the first-mover advantage. Early investors gain exclusive access to potential gains before the wider market catches on. Securing tokens at lower prices paves the way for significant profits as the project gains traction and demand. This early entry positions investors at the forefront of groundbreaking digital currencies, offering a unique edge in the volatile crypto market.

Discovering Hidden Gems: Investing in cryptocurrency at launch opens the door to discovering hidden gems amidst the sea of digital assets. While established players like Bitcoin and Ethereum dominate headlines, emerging projects can provide unique features and innovative solutions to real-life problems. Being an early investor allows individuals to identify and capitalize on the next big thing before it becomes common knowledge, potentially reaping substantial rewards.

Timing the Market Waves: Timing is crucial in the cryptocurrency market, and investing at launch provides a unique opportunity to ride the initial market waves. As a project gains attention and momentum, early investors can strategically capitalize on price fluctuations, buying and selling to maximize returns. While navigating early market dynamics requires an understanding of volatility, the potential rewards outweigh the risks for savvy investors.

The Token Launch: A Privileged Opportunity: Introducing a token launch that presents a privileged opportunity for early investors. Pre-sale information is shared, including the dates (19th and 20th of November 2023) and the corresponding prices for each phase (15 cents, 20 cents, and 25 cents). The token’s total supply is highlighted as 10 billion, with 50% in circulation and the remaining 25% allocated for liquidity provisions, business development, and special projects.

Economics of the Token: A breakdown of the AAS token’s economic structure is provided, detailing the allocation of the 10 billion tokens. Categories include liquidity provisions, business development, special projects, an arbitrage system team, and marketing and operational costs. The reserve purposes are emphasized as a security measure, instilling confidence in potential investors.

Building a Long-Lasting Investment through AAST: The article emphasizes the advantages of being part of an early investment in the mentioned token through the AAS platform. The early investors are encouraged to sign up and leverage the potential benefits of being among the first to access the token when it hits the open market. The minimum registration amount is disclosed, and the article stresses the opportunity to earn a weekly return on investment.

Conclusion: In conclusion, the article is meant urges readers to seize the opportunity presented by the upcoming AAS token launch. Drawing parallels to the early days of Bitcoin and other successful cryptocurrencies, the author highlights the potential for substantial profits and the chance to be part of a revolutionary investment. The call to action encourages readers to subscribe, like, comment, and sign up for the AAS platform to embark on a journey of financial growth and success.