UBA Instant Loan For Non Salary Earners

Like every other financial service company, the United Bank of Africa (UBA) provides loans to Individuals, Small and Medium Enterprises (SMEs) and corporate organizations in need of financial relief.

UBA loan offers are:

1. Click credit

2. Personal loan

3. Asset finance

4. Auto loan 

5. Insurance premium financing

7. FX cashed back loan

8. Personal loan direct

All of these loan offers vary in terms of features, benefits, eligibility criteria and application process.

Of the 8 loan offers mentioned above, only one is designed for non-salary earners and that is the “Insurance Premium Financing”.

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What Is The Insurance Premium Financing Loan Offer About?

The Insurance Premium Financing is a loan offer designed by the United Bank of Africa (UBA) for Individuals, Small and Medium Enterprises (SMEs) and corporate organizations.

This loan offer makes it easy for Individuals, Small and Medium Enterprises (SMEs) and corporate organizations to protect everything they hold with high esteem by paying to insure their assets against loss.

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Features & Benefits Of UBA Insurance Premium Financing Loan Offer

1. Convenient repayment period of 12 months

2. Competitive interest rate

3. Maximum loan amount of N5million for registered businesses and N1million for individuals

4. Minimum loan amount of N50,000

5. Minimum equity contribution of 2 months instalments

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Requirements Of UBA Insurance Premium Financing Loan Offer

For individuals:

1. Functional account

2. Duly completed loan application form

3. Evidence of ownership of the asset to be financed

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For SMEs and Corporate Organizations:

1. Functional business account

2. Duly completed loan application form

3. Board Resolution

4. Company and Director(s) information

5. List of asset(s) to be financed

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How To Apply For UBA Insurance Premium Financing Loan 

Step 1: Visit any of the participating insurance bodies to obtain an invoice for premium payment

Step 2: Then, visit a UBA branch to complete a loan application form and also submit the required documents.

Step 3: Fund your account with an equity contribution of 2 months instalments.

Step 4: The loan will then be credited into your account and moved to the insurance’s account along with the equity contribution, the insurance company will send proof of payment to you.

Originally posted on October 10, 2021 @ 11:59 pm