You may wonder how to get a loan from UBA bank in Ghana. UBA bank loans are available across a wide range of options that cater to both individuals, large-scale businesses, and SMEs looking to grow. However, there are several features, benefits, and eligibility requirements you need to meet, depending on the type of loan in question. Therefore, we would discuss this and every other thing you need to know about UBA bank loans in this article.
What are the loan products of UBA in Ghana?
The loan products of UBA bank in Ghana include:
1. Flexi Loan
This is a consumer loan they created to provide all civil servants. Especially for those who receive their wages through the Controller and Accountant General’s Department with simple access to credit (CAGD).
All civil servants under the age of 55 who receive salaries by the Controller and Accountant General’s Department.
- Account holders and non-account holders can use it.
- Customers without a provident fund have a maximum of up to USD 25,000 equivalent in Cedis, and customers with a provident fund have a limit of up to USD 50,000 equivalent in Cedis.
- There is no need for collateral.
- Interest rates that are competitive
- Repayment term for a loan (36 months for customers who do not have Provident fund and 60 months for customers with Provident fund)
- There is a loan top-up option available.
- Customers who already have a loan with the Bank can quickly top up to boost their liquidity.
- Once you apply for a top-up, they are ready to take over your loans with other institutions.
- You can easily finance emergency needs hassle-free
- They do not require collateral
2. Revolving Overdraft
This is a consumer credit product designed to help employees of well-known companies whose salaries they receive through UBA fulfill personal demands like bill payments, vacations, and school fees, among others.
The benefits of UBA revolving overdraft include:
- You can access funds which you can use to resolve unlimited financial challenges.
- It doesn’t require equity.
3. No Wahala Loan
The No Wahala Loan is a mass market product that provides salaried clients with loan options to help them satisfy their financial needs.
- Tenure: Up to 24 months
- Maximum amount: GH₵5,000
- You can easily finance emergency needs with little hassle
- It requires no collateral
How to Apply?
- Just fill out a UBA Consumer Loan Application Form. You may find the form online or at any of their locations.
- Send your application to your branch’s Customer Service Officer.
- Select to apply for U-Advance Letter of Awareness.
4. UBA Medical
This is a consumer credit product they designed to fund government-registered medical centers. They designed it to aid doctors and their clinics in enhancing the quality of accessible drugs, getting facilities, purchasing equipment, and extending their structures.
You can get funds which you can use to resolve financial challenges.
5. Executive Loan
This is a consumer credit program they designed to help middle/top executives of well-known companies UBA PLC fulfill their personal demands, such as bill payments, vacations, school fees, and so on.
You can access this fund in order to Access to resolve unlimited financial challenges. Besides that, they do not require equity.
6. UBA Divine
They designed this consumer credit product to provide financing to churches they registered who are customers of the bank.
They can use this fund to resolve financial challenges.
7. UBA Schools
They created this consumer credit product to provide financing to private nursery/primary, secondary and tertiary institutions
Just like other products, you can use it to resolve financial challenges.
8. UBA Mortgage
UBA designed this Mortgage Loan to part-finance the acquisition of residential real estate by salary earners. Especially those whose employers are on the Bank’s counterparty list.
High Net Worth Individuals (HNIs) with predictable and sustainable income are the target market for the product.
Home Financing and Equity Release are the two variations of the offering.
The goal of the product is to allow clients to purchase fully finished homes by providing financing for the purchase of completed properties in high-end locations with high property values.
Detached and semi-detached duplexes, detached and semi-detached bungalows, single flats/apartments, including maisonettes, penthouses, and luxury apartments housed in blocks of flats or high-rise structures, as well as entire blocks of flats, are all eligible for financing.
What are other financial products UBA bank offers its customers?
Besides the loan products above, UBA bank offers other financial products to its customers. They include:
1. Short-term loans
A set sum with a pre-determined repayment period of up to 12 months.
2. Medium-Term loans
Customers can take advantage of a term commitment that lasts longer than a year but not over 5 years.
An overdraft is a revolving credit line that you must pay back on demand. This is a type of short-term financing you could use to cover working capital shortages. They usually give you this loan on current accounts.
4. Drawings against uncleared effects
They draw the funds on the customer’s account for cheques they do not value, which were deposited in the customer’s account. They will clear the cheques automatically, and repayment will be automatic. Because this is direct credit exposure, they must cover it by an overdraft limit or a particular limit.
5. Distributor Financing
UBA Ghana will establish a line of credit with a twelve-month duration and limits for all distributors to handle the financial needs of corporate clients’ dealers/distributors. The operations and size of the distributors will determine this restriction. The following are the dynamics:
- Each important distributor/dealer and facility amount will be subject to recommendations from the corporate customer.
- Each of the important distributors/dealers will have a non-checking account opened by the Bank.
- The bank will move funds from the key distributor/account dealer’s to the corporate client’s account on the corporate client’s advice. And this goes with the key distributor/approval dealer’s to effect payment for the invoiced items.
- To lessen their debt, the main distributor/dealer will start paying in cash or checks.
- A new cycle will begin with debit entry into the key distributor/dealer account to pay for invoiced items as soon as the account is funded enough to absorb new invoices.
6. Structured Finance
UBA can design and tailor the correct structured solutions for your company’s needs, boosting shareholder wealth and increasing market competitiveness. It includes; Financing structures that maximize investment returns while lowering effective funding costs, lease financing with a structure, finance for oil and gas projects and finance for infrastructure development.
What are the contact details of UBA bank Ghana?
For more enquiries on how to get a loan from UBA bank in Ghana or other issues. You can reach out to UBA bank in Ghana through:
- Address: Heritage Tower Ambassadorial Enclave Off Liberia Road Ridge Accra P.M.B 29, Ministries Accra, Ghana.
- Phone number: +233 (0) 302 634 060
- Toll-free number: 0800833833
- Email: firstname.lastname@example.org
Having seen the loan products UBA bank offers its customers, therefore how to get a loan from UBA bank in Ghana should not be a big deal. This is because you can easily visit any of their branches or reach out to them through their contact details above. UBA bank loans remain a top choice for citizens all around the nation because of their varieties and excellent customer service. Therefore, you can easily get a loan today by visiting any of their branches or opting for the mobile option. However, remember that prompt repayment of loans will improve your credit score.