UBA Loan Code: How to Borrow Money from UBA Bank in 2024

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.
  • There are two types of overdraft: executive and revolving personal.
  • 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 are 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 are needed, including application forms 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 the loan amount and tenor, then submit.

  1. At UBA Branch

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

FAQs

What is the UBA loan code for borrowing money in 2024?

The UBA loan code is “ 919#*. This short code allows eligible UBA customers to apply for quick loans without the need to visit the bank or fill out lengthy forms. By dialling this code, you can initiate the loan process and receive funds directly into your account, provided you meet the bank’s criteria.

How can I borrow money from UBA using the 919# code?

To borrow money from UBA, simply dial *919# on your mobile phone, and follow the prompts to apply for a loan. You’ll need to provide some basic details and accept the terms and conditions. If you’re eligible for the loan, the requested amount will be transferred directly to your UBA account.

What are the eligibility requirements for borrowing money via UBA loan code?

Eligibility requirements for borrowing money through the UBA loan code typically include being a UBA account holder, having a steady inflow of funds into your account, and meeting the bank’s credit scoring criteria. UBA also considers factors like account activity, loan repayment history, and account balance before approving the loan.

How much can I borrow from UBA through the loan code in 2024?

The amount you can borrow through UBA’s loan code varies depending on your eligibility, account history, and relationship with the bank. Generally, UBA offers loans ranging from a few thousand Naira to higher amounts, but the exact loan limit is determined based on the bank’s internal criteria and your financial standing with them.

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.

Also Read: How Much You Can Borrow from Fairmoney the First Time & Second Time

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