Description

UBA

Products

• Salary Advance – UBA Salary Advance/Personal Overdraft is a short term facility that allows you to overdraw your current account for 6 months up to a maximum amount of =N=3 million. You repay only 5% of the amount borrowed every 30 days when your salary is paid again.Salary Advance is a small, short-term unsecured loan that relies on the borrower having previous payroll and employment records. With a salary advance, you repay it either out of your next paycheck or over an agreed time span. It requires your employer’s permission and some companies restrict the circumstances under which they’ll green-light an advance.The target audience for their product are executives, partners and middle level management staff of reputable organisations in the private or public sector who are confirmed and earn an after tax annual income of N5million. It also includes individuals whose salaries must have been paid through UBA for at least 3 months and individuals who do not have a history of returned cheques due to insufficient funds.

  By having to repay 5% every month till the end of the 6 months tenor when you have to repay the total outstanding, you are assisted in managing your finances. Gives you the money you need when you do not have sufficient funds in your account. Considerate, structured and convenient terms of repayment.

• Mortgages –  Mortgage offers credit facilities to customers whose salaries or business proceeds are domiciled with the bank to enable them to own homes in selected cities within the country. The maximum loan amount for low density residential locations in Abuja and Lagos is 150 million, whilst for medium density residential locations in Abuja, Lagos and other state capitals it is 50 million. Repayment can be made in equal monthly repayment comprising principal and interest or annual, semi-annual or quarterly principal repayment while interest will be serviced monthly. The monthly repayment shall not exceed 35% of net monthly salary.

Requirements

Salary Advance

• Completed Application Form
• UBA Bank account required for at least 3 months
• Salaried employment required

Mortgage

• Completed Application Form