How to Borrow Money from UBA Bank Using USSD Code

Want to know how to borrow money from UBA Bank using USSD code to fund your business or to support your personal goals? Keep on reading.

This is one of the giant financial institutions in Africa, having a whole collection of loan products to meet the different needs of the customers.

Be it business expansion, renovation of your house, or your children’s education fees, UBA Loans are here to help you out with flexible repayment options and very competitive interest rates.

This article will also give a rundown of how to borrow from the UBA Bank through the USSD code, and what code can i use to borrow money from Uba. Let’s get started!

Also read – How to Qualify for a UBA Loan Online 2024

1About UBA Loan

2Types of UBA Loans

3What code can i use to borrow money from Uba?

4How To Activate UBA USSD Code

5How to borrow money from Uba bank using ussd code

6UBA Loan Interest Rate

7How to Repay UBA Loan

About UBA Loan

Before discussing the USSD code to borrow money from UBA, here is an overview of UBA loan.

Uba loans are just one among many other loan products issued by the United Bank for Africa, which is one of the most notable banks in Africa.

They offer financing solutions to very different kinds of needs, like personal and business needs.

UBA Loans offers a bouquet of products that comes with flexible repayment terms and competitive interest rates.

Loan products offered include personal loans, salary advance loans, education loans, asset finance loans, and SME loans, among others.

In case of business expansion, house renovations, children’s education, or emergency case, think of a UBA loan.

UBA loan provides you with quick and hassle-free access to finance to meet all your plans and financial objectives.

Also read – UBA Enhances Mobile App, Introduces Transaction Dispute Feature

Types of UBA Loans

Wondering which UBA loan is right for you? Here’s a list of UBA’s loan offerings:

1. UBA Personal Loans

The You can borrow as much as N30 million with the UBA Personal Loan.

This loan has a flexible repayment tenor of up to 48 months at a very competitive interest rate.

The UBA Personal Loan is for salary earners who would want to meet their financial needs and live their life dreams.

You can use this loan for several purposes: coverage of medical bills, home improvement, giving your side hustle a small boost, payment for a course, and so much more!

More features of the UBA Personal Loan include:

One-off management fee of 1%
Minimum loan amount of N100,000
Access up to 50% of your debt service ratio (DSR)

Requirements for UBA Personal Loan

Functional savings or current salary account
Valid means of Identification (Passport, Driver’s license, national ID card and voter card)
An executed loan application form.
Employer’s undertaking to domicile salary with UBA
Duly accepted offer letter or employee inquiry form. The offer letter must show Employee’s Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); and Employee Job Status, Confirmed or otherwise.
Copy of the obligor’s staff ID.

2. UBA Personal Loan Direct

The UBA personal loan direct provides up to N10 million Naira in funds for salary earners who do not own a UBA account.

Some benefits of the loan are:

A Loan repayment period of 6 months
Attractive interest rate based on floating terms, subject to changes in money market conditions during the period of the loan.
One-off management fee of 1%
Access up to 50% of your debt service ratio (DSR)

Requirements for UBA Personal Loan Direct

Duly completed loan application form
Valid means of Identification International Passport, Driver’s license, national ID card and voter card
Copy of customer’s staff ID
Pay slips or bank statement of account reflecting salary inflow in the last 6 months
Customer’s instruction letter

3. UBA Seniors Citizen Loan

UBA Senior Citizen Loan targets pensioners aged 55 – 70 years in Nigeria.

Under this loan facility, pensioners can get a loan of as high as N10,000,000 from UBA.

Some Features & benefits of the UBA senior Citizen loan are:

More convenient repayment tenure of 36 months
Attractive interest rate on floating terms, which is subject to changes in money market conditions for the period of the facility.
The maximum amount of loan is N10 million
One-time management fee of 1%
Credit Life Insurance – 1.6% covering Death, Permanent Disability

Requirements UBA Seniors Citizen Loan for Pensioners

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 limit for customers is 55-70 years
A valid Nigerian ID (Driver’s license, international passport, NIMC, Voters card)

4. UBA Asset Finance

The UBA Asset finance loan products are designed to enable you to borrow money for the purchase of household appliances, alternative power solutions, smartphones, furniture, laptops, invertebrates, generators, and much more.

The UBA Asset Finance loan tenor is 24 months.

Some of the Benefits of The UBA Asset Finance Loan are:

Access to a wide array of reputable dealers/retailers
Attractive interest rate
Asset finance has a Maximum loan amount of N3 million and a minimum loan amount of N35,000.
30% Minimum equity contribution

Requirements for UBA Asset Finance

An active savings or current salary account
A 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 following information: Employee Name, Employee Job Description/Position; Nature of Employment [Permanent or Contract]; Employee Job Status : Confirmed or unconfirmed.
A copy of the customer’s staff ID.

Also read – UBA Confident in Meeting N500 Billion Capital Base Requirement – CFO

5. UBA FX Cash-Backed Loan

This is a unique loan product that lets customers get a Naira loan with their FX deposits.

Some of the features and benefits of UBA FX Cash-Backed Loan include:

The maximum amount that one can be given by the bank is N10 million.
It is a maximum of 85% of the FX savings or deposit value, computed at the Bank’s prevailing rate, which is the Buy rate.
The Tenor: The repayment period ranges from up to 36 months, and 0.5% interest on the FX deposit shall be paid.
The management fee of 1% payable upfront once.

Eligibility and Requirements for UBA FX Cash-Backed Loan

A Funded FX account
Duly completed loan application form
Valid means of Identification (international passport, national driver’s license, national ID card and voter card)

6. UBA Auto Loan

The UBA auto loan will enable you to buy your first car or even upgrade to a higher model.

You can buy the following brands of cars using the UBA auto loan: Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia, Volkswagen.

Among the various features and benefits that come with the auto loan by UBA include:

Access to registered auto dealers
The repayment period is up to 48 months.
Attractive interest rate: Interest rate shall be on floating terms subject to changes in money market conditions throughout the tenor of the facility.
Maximum amount: N15,000,000.00
Minimum equity contribution: 30%
Insurance: Comprehensive insurance shall be taken on the vehicle, and complementary Vehicle tracking shall also be mandatory.

The following are the requirements for UBA Auto Loan:

Functional savings or current salary account
Duly completed loan application form
Valid means of Identification: International Passport, Driver’s License, National ID Card, and Voters’ Card
An undertaking from the employer to domicile salary with UBA.
Offer acceptance letter or Employee Enquiry Form. Offer letter should include : Employee Name, Employee Job Description/Position; Nature of Employment: Permanent or Contract Status Confirmed or unconfirmed
Customer’s staff ID copy.

What code can i use to borrow money from Uba?

The code to borrow money from uba account is *919*28# and one thing that makes this code as great and accessible as possible is the fact that you can dial it from any mobile network in Nigeria.

Also read – Zenith Bank, First Bank, and UBA Join Zone’s Decentralized Payment Network

How To Activate UBA USSD Code

Before you can know how to borrow money from uba bank using ussd code, you need to be registered for the service first.

Dial the UBA Ussd Code *919#.
An on-screen introductory message will appear.
Press 1 to start the sign-up process for the UBA Ussd Code.
Choose between running the registration with your Account Number or the UBA Prepaid.
Choose the UBA prepaid with the PIN if you registered for the UBA prepaid account.
If you don’t have a UBA prepaid account, use the option Account with PIN.
Insert the 10 digits account number or the prepaid number as the case may be.
Choose your UBA Ussd Code PIN. This would require the need for the 4 digit pin of your UBA Debit card.
Have your PIN creation confirmed to complete the activation process.

To know how to borrow money from uba bank using ussd code following these steps:

Step 1: Ensure that you’re a UBA Customer

You are supposed to ensure that you are a customer of the bank to access the UBA loan. The loan is only available to customers of the bank.

Step 2: Mobile Number registration

You will need to connect the mobile number you would be using for your loan to your bank account. Many times, it is the number you used in opening the account that gives you access to the loans.

Step 3: Dial the UBA loan code.

Dial 919*28#, and ensure you follow the prompts. You are surely going to get a loan with the UBA loan code.

Also read – Latest Ways to Link NIN with your Major Bank Account 2024

UBA Loan Interest Rate

UBA offers a wide range of loan products. From personal to business loans. UBA loan interest rates range from 19% to 30% per annum.

How to Repay UBA Loan

You can easily repay by having enough money in your account to refund, and UBA, will deduct it all automatically on the due date.

After that, you will receive a notification (SMS and/or Email) confirming your loan repayment.

You can clear your loan and then use the USSD code to borrow money from UBA to get another loan.

FAQs

How do I check my UBA Bank loan eligibility?

You can check your eligibility for loans with UBA Bank by simply dialing the code 919*28#.

what code can i use to borrow money from uba?

The code to borrow a loan from UBA is 919*28#. Just dial the code and follow the promptings to apply for a loan.

How can I get UBA loan without collateral?

You can get a UBA loan without collateral by applying for their Uba personal loan direct. These loans are designed to meet short-term financing needs and do not require any collateral.

What is the code to check my UBA loan balance?

You can check the balance of your UBA loan by dialing 919*28# and following the voice prompt.