How to Borrow Money from UBA Bank & UBA Loan Code 2023-2024

How to Borrow Money from UBA Bank & UBA Loan Code:

Hey there! If you’re banking with UBA and find yourself in need of some quick cash, you’re in the right place. UBA’s loan service is here to help you out.

Now, what’s cool about UBA is that they’re among the top-notch loan providers in Nigeria, catering to both individual and business needs.

And guess what? You don’t have to stress about collateral when trying to access some of their loan offers.

But wait, it gets even better! With just a simple dial on your phone, you can trigger the UBA Bank loan code, and voila! Your requested loan can be in your account in no time.

So, whether you’re on the hunt for that UBA loan code, wondering how to use your phone to secure a loan, or thinking about walking into a UBA branch for an application, we’ve got all the information you need.

In this guide, we’ll walk you through the eligibility criteria, the application process, the interest rates, and of course, how to pay back your loan with ease.

Check out how to get UBA Customer Care Number Whatsapp

But first, what is UBA Loan Code?

What is UBA Loan Code?

Looking to get a loan from UBA? It’s simple! Just dial *919*28#, which is the UBA loan code. Your screen will guide you through the next steps.

You’ll be prompted to enter some personal information, decide the amount you wish to borrow, and select how long you’ll need to repay it.

After you’ve filled in the details, finalize your application and hang tight for a bit. If all goes well, your requested loan will be sent straight to your UBA Bank account.

Types of Loan Offered By UBA

UBA provides a range of loan options tailored to cater to the diverse financial needs of its patrons. Here’s a breakdown of the various loan types:

Personal Overdraft

This short-term loan is open to employees of esteemed private and public entities. With it, you can overdraw your current account up to 6 months, with a cap at 3 million.

Every month, when your salary comes in, a 5% interest on the borrowed sum is deducted. There are two categories: the executive personal overdraft and the revolving personal overdraft.

The former requires an after-tax annual income of at least N5 million, while the latter demands a minimum of N2.5 million.

Your salary must have been processed through UBA for a minimum of three months. The key document needed is the loan application form.

Personal Loan (UBA No Wahala Loan or Click Credit)

This loan is a lifesaver when unexpected expenses pop up, like medical emergencies or car repairs. It’s accessible to all UBA account holders.

The best part? No collateral or guarantor is needed. Plus, you can secure this loan using the UBA loan code, or the specific UBA no wahala loan USSD code.

The only paperwork you need is the loan application form.

Asset Finance

A fantastic opportunity for you to acquire assets even if you can’t foot the bill immediately.

Eligibility is limited to employees of reputable private or public organizations who’ve had their salary processed through UBA for at least a month.

Needed documents include the loan application form and a pro-forma invoice.

Cooperative Loans

This is tailored for cooperative societies affiliated with recognized companies. The starting and operational balance stands at N2,000.

Eligibility is strictly for cooperatives of reputable firms. Documentation involves a letter of request signed by the cooperative’s executives, and other documents as specified by the bank.

Cash Collaterised Loan

With this, you can secure credit in various currencies, anchored on your cash deposits or investments with UBA or other banks recognized by UBA.

To be eligible, you need deposits or investments with UBA, and your salary of the past three months should have been processed through UBA.

Necessary documents include the UBA consumer loan application form, a lien letter or deposit hypotecation agreement, and more.

If the pledged deposit isn’t in your name, additional documents like a guarantee form might be needed.

Notably, only the personal loan allows for borrowing via the UBA USSD code. Now, let’s delve into how to secure these loans.

Read on Liberty Loan USSD Code 

How to Be Eligible for UBA Loan

To get into UBA’s loan services via their loan code, there are certain prerequisites you need to fulfill:

• You should be 18 years or older.
• Maintain an active UBA account.
• Have a steady income flow.
• Maintain a positive credit score.

Once you’ve ticked off these criteria, you’re all set to request a UBA loan right from your phone.

Getting a loan from UBA is a breeze. Whether it’s through the USSD code, the UBA Mobile App, their official website, or even in-person at UBA branches, the process is user-friendly and direct.

Now, focusing on the USSD method, let’s dive into how you can secure an instant loan from UBA Bank.

How to Borrow Money from UBA Using App

Besides the UBA phone loan code, the UBA Bank app is another convenient method to secure a loan.

Here’s a step-by-step guide to get a loan via the UBA app:

1. Open and log into the UBA app.
2. Tap on the “Credit” section.
3. Choose the loan type that suits you.
4. Specify the amount you’d like to borrow.
5. Pick your desired repayment duration.
6. Finish up by submitting your loan request.
7. If all goes well, the loan will be sent straight to your UBA account.

It’s that easy to obtain a loan through the UBA mobile app! Additionally, if you prefer a face-to-face approach, you can always head to a UBA bank branch to apply.

Let’s explore that process next.

How to Borrow Money from UBA Branch

Beyond the UBA loan code and the UBA Bank loan app, there’s the traditional way of securing a loan – visiting a UBA Bank branch in person. Here’s how you can go about it:

1. Head to the closest UBA branch with proper identification and proof of address.
2. Approach a customer service representative and inquire about their loan offerings. They’ll provide you with a loan application form.
3. Carefully fill out the application, attach any necessary documents, and submit it.
4. Once your loan is approved, you’ll be presented with an offer letter outlining the loan’s terms and conditions.
5. Your approved loan amount will be transferred to a salary account you have with the bank.
6. Before you leave, make sure to obtain a copy of the loan agreement from the customer service representative for your records.

UBA Loan Interest Rate

UBA provides a variety of loan options, and as a result, their interest rates differ.

For instance, the interest rate for UBA’s Personal loan starts at 3% monthly, translating to an annual rate of 36%.

It’s worth noting that these rates might change occasionally, reflecting the current financial market trends.

Once you’ve taken out a loan using the UBA loan code, it’s essential to plan for its repayment. So, let’s dive into how you can settle your UBA Bank loan.

How to Repay UBA Loan

Paying back your UBA instant loan is straightforward. Ensure you have sufficient funds in your account by the repayment date, and UBA will take care of the rest by auto-debiting the loan amount.

Subsequently, you’ll receive a confirmation message, either via SMS or email, acknowledging the repayment.

With your loan settled, you’re free to use the USSD code again to request another loan from UBA whenever needed.

Here is Zedvance Loan USSD Code

FAQs on How to Borrow Money from UBA Bank & UBA Loan Code

How much can UBA lend me?

The amount UBA is willing to lend you hinges on the specific loan type you’re eyeing and your eligibility status. For instance, the cap for a UBA personal loan is set at N50,000.

Does UBA offer a loan app?

Absolutely! The UBA Bank mobile app is your gateway to their loan services.

Is a student eligible for a UBA loan?

Yes! Students are welcome to apply for UBA loans. That said, they need to align with the bank’s eligibility standards and furnish all essential paperwork to back their loan request.

What’s the process to borrow N20,000 from UBA?

To secure N20,000 from UBA, initiate the UBA No Wahala loan using the USSD code: *919*28#.

How do I determine my loan eligibility with UBA Bank?

To gauge your loan eligibility with UBA Bank, a quick dial to *919*28# is all it takes.

What’s the USSD code for obtaining a loan from UBA Bank?

Need a UBA loan? Dial *919*28# and adhere to the on-screen directives to kickstart your loan application.

How can I obtain a UBA loan without any collateral?

UBA’s Click Credit loan or salary advance doesn’t mandate any collateral. Tailored for addressing short-term financial demands, these loans are a hassle-free way to borrow.

How do I verify my UBA loan balance?

To get a snapshot of your current UBA loan balance, simply dial *919*28# and navigate through the on-screen options.

How do I access UBA’s phone loan?

For a UBA phone loan, download the QuickBucks app, available on both Google Play Store and Apple App Store.

Alternatively, employ the Access loan code and adhere to the ensuing steps to finalize your loan request.

Check out Access Bank Loan Code

Conclusion on How to Borrow Money from UBA Bank & UBA Loan Code

In conclusion, UBA offers a list of loan options tailored to cater to the diverse needs of its customers.

Starting from personal loans and phone loans to student-specific offerings, the bank ensures that its services are accessible, user-friendly, and flexible.

With the ease of USSD codes, mobile apps, and traditional branch visits, obtaining a loan from UBA has never been more convenient.