Accessing quick loans in Nigeria has become easier with digital banking. One of the trusted financial institutions offering loan services is United Bank for Africa (UBA).
UBA provides different types of loans to individuals, salary earners, and business owners with flexible repayment options and relatively fast processing.
In this guide, you’ll learn everything about UBA loans, including how they work, requirements, interest rates, how to apply, and whether they are legit.
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About the UBA Loan
UBA Loan is a financial service offered by United Bank for Africa that allows customers to borrow money for personal or business needs.
These loans are designed to be accessible, especially for salary earners and account holders, without the need for complex paperwork or collateral in some cases.
UBA loans can be accessed through different ways, such as:
• USSD code.
• Mobile banking app.
• Physical bank branches.
Types of UBA Loans in Nigeria
There are several loan options offered by UBA depending on your needs.
These loans vary from one to another.
In this review, we will talk about four types of loans offered by UBA.
Here are some loans offered by UBA.
1. Personal Loans
The UBA Personal Loan product is designed to support all salary earners in meeting their lifelong dreams. With this product, you can cover medical bills, make home improvements, give your side hustle a little boost, pay for training to improve yourself, and do much more!
Features of UBA personal loansÂ
Here are some features of UBA personal loans:
• Convenient repayment period of 60 months.
• One-off management fee of 1%.
• Maximum loan amount of N30million.
• Attractive interest rate.
Requirements for the UBA personal loan
UBA requires borrowers to meet certain criteria before they can access this loan.
Here are some requirements for the UBA personal loan.
• Functional savings or current salary account.
• Duly completed loan application form.
• Valid means of Identification (international passport, national driver’s license, national ID card and voters card).
• Duly accepted offer letter or employee inquiry form (The offer letter should contain Employee Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); Employee Job Status (Confirmed or unconfirmed).
• Copy of the obligor’s staff ID.
How to Apply for UBA Personal LoansÂ
• Apply online or walk into any of their branches nearest to you.
• Submit a completed loan application form with supporting documents at any branch.
• Execute an offer letter detailing the loan terms and requirements, following loan approval.
• Loan will be disbursed into a salary account domiciled with the Bank.
What is the maximum & minimum loan amount for personal loans?
The maximum loan amount for the UBA personal loans ranges up to ₦30 million, depending on your salary and other set terms and conditions.
The minimum loan amount is about ₦200 thousand.
Documents required to obtain the UBA personal loan
To obtain the UBA Personal Loan, you would need to provide the following documents:
• A duly completed Loan Application Form.
• A copy of your pay slip and bank statement of account indicating salary inflows in the last 6 months.
• A letter of awareness from your current employer.
2. Click Credit Plus
What is Click Credit Plus?
This is an Instant Loan Product that is fully automated end-to-end and is enabled on UBA’s USSD code with a maximum loan tenure of 30 days.
It is available to all UBA Staff, salaried individuals and non-salaried individuals who receive their monthly emoluments or consistent deposit through UBA.
Features of Click Credit PlusÂ
Here are some of the features of Click Credit Plus:
• Borrowers can access up to N200,000 in loans.
• Fast disbursement.
• 30-day repayment option.
• Competitive interest rate.
Requirements for the Click Credit PlusÂ
UBA requires borrowers to meet certain criteria to be eligible for this loan.
Here are some requirements for the Click Credit Plus:
• 6 months’ salary receipt (salaried customers).
• Age between 18 and 60 years old.
• Customers must have a current or savings account with UBA.
• Customers must have a good credit status.
• Non-salaried customers must have been banking with UBA for 6 months with consistent deposits in the last 12 months.
How to Apply for the Click Credit Plus loanÂ
To apply for the click credit plus loan, just dial *919*28# on your phone to get quick funds, pay bills, sort emergency needs, and more.
What is the maximum & minimum loan amount for Click Credit PlusÂ
The maximum loan amount for the click credit plus ranges up to ₦200 thousand.
Minimum Amount is not specified, as your specific loan limit is determined by UBA using AI-driven credit scoring, based on your transaction history and account behaviour.Â
Documents Required to Obtain the Click Credit Plus LoanÂ
There is no document required for the click credit plus.Â
Click Credit Plus is a digital, automated facility. You do not need to submit physical paperwork, visit a branch, or provide collateral.Â
3. Asset Finance Loan
With an asset finance loan, borrowers can get financing for the purchase of household appliances, alternative power solutions, etc.Â
With the UBA asset finance loan, you can borrow and pay back conveniently over a period of 24 months. You can purchase a variety of assets ranging from smartphones, furniture, laptops, household appliances, inverters, generators, etc.
Features and Benefits of Asset Finance Loan
Here are some features of an asset finance loan:
• Convenient repayment period of 24 months.
• Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan).
• Maximum loan amount of ₦3million.
• Minimum equity contribution of 30%.
Requirements for the Asset Finance LoanÂ
UBA requires borrowers to meet certain criteria to obtain this type of loan.
Here are some requirements:
• Functional savings or current salary account.
• Duly completed loan application form.
• Valid means of Identification (international passport, national driver’s license, national ID card and voters card).
• Employer’s undertaking to domicile salary with UBA.
• Duly accepted offer letter or employee inquiry form (The offer letter should contain Employee Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); Employee Job Status (Confirmed or unconfirmed).
• Copy of the customer’s staff ID.
How to apply for the Asset Finance LoanÂ
Here are some steps to apply for the asset finance loan:
• Get a pro forma invoice (PFI) for preferred items from any approved vendor.
• Then visit a UBA branch to complete a loan application form.
• Execute an offer letter detailing the loan terms and requirements, following approval.
• Pick up preferred items from the vendor.
What is the maximum & minimum loan amount for the Asset Finance Loan?Â
The maximum loan amount of an asset finance loan ranges up to ₦3millionÂ
Minimum loan amount is about ₦35,000.
Document required for UBA Asset Finance LoanÂ
• Application Forms
A completed UBA loan application form.
• Identification
A valid means of identification (National ID, International Passport, Driver’s License, or Voter’s Card).
• Asset Details
A pro forma invoice from a vendor pre-approved by UBA.
• Financial Records
Bank statements (typically covering the last 6 months).
Pay slips (for salaried individuals).
4. SME Asset Finance
With the UBA SME Asset finance loan, you can get funding to purchase new assets and also expand your business. It is available to registered SMEs in Professional Firms & Service Providers, Food & Drink, Wholesale/Retail Trade & Key Distributors, Green Economy & Fintechs, Exports, Educational Institutions and other viable businesses.Â
This loan type provides between ₦4 Million and ₦50 Million for business equipment and machinery.
Features of SME Asset Finance LoanÂ
• Customers get a loan from ₦4 Million to ₦50 Million to purchase assets and equipment needed for their business operations.
• The loan is payable for a minimum of Twelve (12) months and a maximum of Thirty Six (36) months.
Requirements for SME Asset Finance LoanÂ
UBA requires borrowers to meet certain criteria to obtain the SME Asset Finance LoanÂ
Here are some requirements:
• The business must have been registered for up to 1 year.
• The business must have a banking relationship with UBA for a minimum period of 3 months.
• To learn more about our requirements, kindly talk to the SME team at any UBA branch closest to you.
How to Apply for UBA SME Finance Loans
Here are some steps to apply for the UBA SME Finance Loan:
• Visit a Branch: Visit the nearest UBA branch to speak with the SME team.
• Provide required Documents such as a duly completed Loan Application Form, proof of business registration (CAC Certificate), financial statements (audited, where applicable), minimum 3 to 6 months bank statements from UBA, andÂ
valid ID of directors.
• Approval Process
Following submission, a credit review is conducted.Â
What is the maximum & minimum loan amount for the SME Asset Finance Loan?Â
SME minimum loan amount is about ₦35 thousand, while the maximum is up to ₦50 million.
Documents Required to Obtain the SME Asset Finance LoanÂ
Here are some documents needed to obtain the SME Asset Finance Loan:
• Application & KYC
Duly completed loan application form (LAF) and Know Your Customer (KYC) form.
• Business Identification
Certificate of Incorporation/Registration with Corporate Affairs Commission (CAC).
• Financial Records
Audited financial statements for the last 3 years (most recent within 6 months).
• Bank Statements
1 to 2 years of bank statements showing cash flow.
• Identification
Valid ID (International Passport, Driver’s License, National ID Card, or Voter’s Card).
• Proof of Address
Utility bill (electricity, water, or waste) dated within the last 3 months, or a tenement rate receipt.
• Corporate Authorisation
Board resolution authorising the borrowing (for limited liability companies).
What are the UBA loan requirements?
To get loans from UBA, you must meet these requirements.
Here are some UBA loan requirements:
• Salary account with UBA.
• Employment Contract/ Appointment Letter.
• Valid Residence Permit/ Work Permit for Foreign Nationals.
• National ID & Work ID.
• Recent payslips.
• Recent Bank statements (3 to 6 months).
 Benefits of UBA Loans
Here are some of the benefits of UBA loans:
1. Fast Loan Disbursement
Some UBA loan products, like Click Credit Plus, offer near instant approval and disbursement. This is especially helpful during emergencies when quick cash is needed.
2. No Collateral for Some Loans
UBA offers loan options that do not require collateral, particularly for salary earners and digital loan users. This lowers the barrier for many Nigerians who may not have assets to pledge.
4. Flexible Repayment Options
UBA loans come with flexible repayment periods depending on the loan type. For example, personal loans can be repaid over several months, making repayment easier to manage.
4. Wide Range of Loan Products
UBA provides different loan types, including personal loans, asset finance, SME loans, and short-term digital loans. This allows users to choose a loan that suits their exact needs.
5. Trusted and Secure Institution
UBA is a well-established bank regulated by the Central Bank of Nigeria. This gives users confidence that their financial transactions and data are secure.
Why Users Prefer UBA Loans
Here are some reasons why users prefer UBA loansÂ
1. Convenience and Accessibility
Users prefer UBA loans because they can apply easily without visiting a bank. The USSD and mobile app options make the process simple and fast.
2. Minimal Documentation for Some Loans
Unlike traditional bank loans, some UBA loan options require little or no paperwork, making it easier for users to access funds quickly.
3. Suitable for Different Income Levels
UBA caters to both salary earners and non-salary earners, making its loan services accessible to a wider range of people.
4. Reliable Customer Experience
Because UBA is a reputable bank, users trust the process and feel more secure compared to many loan apps.
5. Multiple Use Cases
Users prefer UBA loans because they can be used for different purposes, and there are different types of loans they can access through it.
Frequently Asked Questions (FAQS)
How long does UBA loan approval take?
UBA loan approval can take minutes for digital loans like Click Credit Plus and 24 to 72 hours or more for personal or SME loans, depending on documentation.
How do I know if I am eligible for a loan?
To be eligible to obtain a loan facility, the following criteria must be met:
You must be a confirmed staff member of your organisation.
You must run a UBA Salary Account.
Your employer must be on the approved list of organisations for Personal Loans.
Can non-salaried earners apply for UBA loans?
Yes. Non-salary earners can apply, especially for products like Click Credit Plus, provided they have a consistent transaction history with UBA.
What is the interest rate for UBA loans?
UBA does not publicly publish a fixed interest rate for all its loan products. The interest rate depends on the loan type, amount, repayment period, and customer profile. However, rates are generally competitive compared to other Nigerian banks.
Is the UBA loan legit or safe?
Yes, UBA loans are legit and safe. United Bank for Africa is a licensed commercial bank regulated by the Central Bank of Nigeria (CBN), making its loan services reliable and secure.
Conclusion
UBA loan services remain one of the most reliable options for individuals and businesses in Nigeria looking for quick and structured financing. With multiple loan types such as personal loans, Click Credit Plus, and SME financing, UBA provides solutions tailored to different financial needs.
One of the major advantages of UBA loans is accessibility. Customers can apply through USSD, mobile apps, or physical branches, making the process convenient. In addition, some loan options do not require collateral, which makes it easier for more people to access funds when needed.
UBA loans are legitimate and backed by a reputable financial institution regulated by the Central Bank of Nigeria. However, borrowers should always review the terms carefully and ensure they can meet repayment obligations before applying.
