UBA Offers 1.58% Interest On Quick Loan


One of the leading financial institution in Nigeria, United Bank for Africa Plc (UBA) has said its offering 1.58% monthly interest rate on its Quick Loan service to customers, Jude Anele, group head, Consumer & Retail Banking of UBA made this disclosure at a Zoom media parley highlighting the bank’s effort through its digital platform to boost customers banking experience amid covid-19 pandemic, Thecitypulsenews.

“We are offering 1.58% interest to salaried employees and Small and Medium Enterprises (SMEs) who are qualified to obtain the Quick Loan,” Anele said.

According to him, any salaried customer or SME is qualified to access the loan for a period of 12 months, six months and three months with option of renewal. He affirmed that customers can get up to N5 million in 1 minute or less with super-fast loans like Click Credit using the bank’s unrestricted and secured access to clients accounts anytime, anywhere, on their computer, tablet, smart phones, or any internet-enabled device.

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This is coming on the heels of the foremost lenders response to help its customers survive and navigate the ongoing Coronavirus pandemic which has ravaged leading to a new normal.

Aneke, the group head, Digital Banking, UBA said the global bank has taken steps ahead of its peers to navigate alternate banking channels to serve its customers better amid the Covid-19 pandemic and bracing for the challenges of the new normal as a result of the pandemic.

“We saw what people faced the day the Federal Government eased the lock-down in Nigeria, it was a terrible experience, we quickly met and decided to improve on our alternative channels to enhance customers experience,” Aneke said.

Furthermore he revealed that customers don’t need a card to withdraw cash from any UBA ATM. “Simply dial *919*30*Amount# for a cash withdrawal code, you will be required to create a one time pin (OTP), then enter the PIN to get a Paycode directly from your UBA account to withdraw the cash. at the ATM, enter your Paycode, OTP, Pin, Amount and Phone Number to get your Cash,” he added.

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In an earlier report, Aneke had explained a new mobile app of the bank which will prompt users to use their device enabled biometrics, adding that the menu has been reduced and divided into sub-menus to enable users view Transaction History, Net worth, Trends amongst others at a glance.

“With the new interface, the user can now see all the transfer options including the saved beneficiary option at a glance and can even order food for delivery via the app,” he said.Aneke added that customers who subscribe to the lifestyle offering on the app will enjoy access to the free online medical doctor, a great response to the new norm created by Covid-19 pandemic

UBA Offers 1.58% Interest On Quick Loan