UBA Loan Code: How to Borrow Money from UBA Bank in 2023

UBA Bank is a big bank in Nigeria offering various services, including loans for individuals and businesses. This guide explains how to qualify for a loan, apply using your phone, the types of loans available, and how to repay them.

UBA Loan Types:

UBA Bank provides different loans to meet people’s needs. Here are the main ones:

  1. Personal Overdraft:

  • Short-term loan for employees of reputable companies.
  • You can borrow money from your current account.
  • Repay 5% interest each month when your salary arrives.
  • Two types: executive and revolving personal overdraft.
  • Certain income requirements apply.

  1. Personal Loan (No Wahala Loan):

  • Available to anyone with a UBA account.
  • No need for collateral or a guarantor.
  • Easy application process through UBA code or USSD.

  1. Asset Finance:

  • For buying assets you can’t afford immediately.
  • Requires UBA salary account for at least 1 month.
  • Documentation includes the loan application form and invoice.

  1. Cooperative Loans:

  • For cooperative societies of reputable companies.
  • Minimum balance requirement: N2,000.
  • Specific documents needed, including a loan request letter.

  1. Cash Collaterised Loan:

  • Use your cash deposits or investments as collateral.
  • Requires past 3-month salary payments through UBA.
  • Various documents needed, including application form and certificates.

Eligibility: To apply for a UBA loan, you need to:

  • Be at least 18 years old.
  • Have an active UBA account.
  • Have a source of income.
  • Have a good credit history.

How to Apply: You can apply for a UBA loan through different methods:

  1. Using USSD Code:

  • Dial 91928#.
  • Follow the prompts to provide personal details, loan amount, and tenor.
  • Confirm your request, and the loan will be processed.

  1. Through UBA Mobile App:

  • Log in to the app.
  • Click on “Credit” and choose the loan type.
  • Enter loan amount and tenor, then submit.

  1. At UBA Branch:

  • Visit a UBA branch.
  • Follow their process to apply for a loan.

Conclusion:

Getting a loan from UBA Bank is straightforward. Make sure you meet the requirements and choose the application method that suits you best: USSD code, mobile app, or branch visit.

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