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May 28, 2019

UNITED BANK OF AFRICA

 

PERSONAL BANKING

MY LOANS

  • NO WAHALA LOAN

The UBA “’No Wahala’ Loan” is a personal loan that means just that: “no problem”. They will give 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.

Benefits

  • No deposit and invoices are required
  • Fast, simple and convenient
  • Convenient repayment terms
  • Competitive interest rates

Eligibility

  • Anyone with a UBA salary account

How to Apply

  1. Complete a UBA Consumer Loan Application form which you may download or pick up from any of their branches
  2. Submit your application to the customer service officer in your branch

 

  • Co-operative Loans

Provides credit to Co-operative societies of blue-chip companies.

Features

  • Minimum Opening & operating balance of N2,000

Benefits

  • Enables your Co-op to meet the needs of its members
  • The co-operative decides how to use the loan
  • Simple and convenient
  • Competitive interest rate

Target Audience

  • Co-operative societies of blue chip companies

How to Apply

  1. Write a letter of request to the Manager of your business office, signed by the authorized signatories of the cooperative stating the amount & tenor of the facility required
  2. Submit the letter and supporting documents to the Customer Service Officer in your business office.

 

  • Executive Loan

As a busy high flying executive, you seek a quick and convenient means of accessing funds for a specific purpose. Choose the loan made just for you. With the UBA Executive loan, you can access a competitively priced loan that will allow you to manage your requirements easily.

Benefits

  • You decide how to use your loan
  • No invoices or deposits are required
  • Fast, simple and convenient
  • Flexible repayment schedule ranging from 3 – 36 months
  • Competitive interest rate

Target Audience    

  • UBA salary account holders who earn executive level salaries

How to Apply

  1. Complete a UBA Consumer Loan Application form which you may download or pick up from any of their branches
  2. Submit your application to the Customer Service Officer in your branch

 

  • Cash Collaterised Loan

A consumer loan which makes it possible for you to obtain credit in Naira, the US dollar, Pound sterling and the Euro using your cash deposits, investments and their equivalents with UBA, UBA Capital & Trust and any other financial institution acceptable to UBA.

Benefits

  • Up to 80% of your deposits or investments in loans if the request and collateral are in the same currency
  • Up to 50% of your deposits or investments in Naira loans if the collateral is in a foreign currency
  • Considerate, structured and convenient repayment terms
  • Competitive interest rates
  • Easy and speedy access to credit without the loss of existing assets

Target Audience

  • Individuals who have cash deposits, investments and their equivalents
  • Individuals whose salaries must have been paid through UBA for at least 3 months
  • UBA account holders
  • Employees who will be discussing or selling consumer credit products

How to Apply

  1. Complete a UBA Consumer Loan Application form which you may download online or pick up from any of their branches
  2. Complete a Letter of Set Off or Lien or Deposit Hypothecation Agreement in the name of the owner
  3. Complete a Letter of Confirmation of Collateral
  4. Execute a Memorandum of Charge over the investment or cash deposit
  5. Provide roll over instructions where necessary
  6. Submit your application to the customer service officer in your branch along with your original Certificate of Deposit or Savings Passbook

Where the pledged cash deposit is not in your name, you would also need to do the following and submit with your application:

  • Execute a Guarantee form
  • Complete a Domiciliation of Proceeds form

Where the pledged deposit or investment is in the name of a limited liability company or registered association, you would also need to submit the following with your application:

  • Your Constitution or Memorandum and Articles of Association and
  • Your Executed Board Resolution of the organization authorizing the pledging of the cash deposit to the bank on another parties behalf of another party

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