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UBA Personal Loan: Big Borrowing for Salary Earners
Looking for a hefty loan with flexible terms? UBA's offering might be your answer — but only if your paycheck's in order.
The Quick Version
UBA's Personal Loan offers an impressive range, from ₦200,000 to ₦30,000,000 with up to 60 months to repay. Tailored for salaried individuals, it requires a functional salary account and a six-month bank statement. The catch? A 1% management fee and no app-only onboarding.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
UBA Personal Loan
Tailored for substantial borrowing, but requires salary documentation
UBA Personal Loan
The Numbers
According to UBA, you can borrow between ₦200,000 and ₦30,000,000, repayable over a maximum of 60 months. A 1% management fee applies, emphasizing the need to consider total cost beyond the monthly payment.
What's Actually Good
With one of the largest loan limits in Nigeria, UBA's offering is ideal for those needing significant funding for planned expenses. The extended repayment period of up to 60 months provides flexibility for managing monthly budgets.
The Catch
You'll need a salary account and six months of bank statements to qualify, making this a non-starter for freelancers or those without regular income documentation. Additionally, the requirement for in-person processes may not appeal to those seeking digital-first solutions.
Who Benefits Most
This loan is best suited for documented salary earners with a stable income who need a large sum — think home renovations or major medical expenses. If you're a gig worker or prefer digital application processes, look elsewhere.
The Bottom Line
If you're seeking a substantial loan and have the salary slips to prove it, UBA's offering is hard to ignore. For those without, the search continues. For more tips on choosing the right loan, check out How to Choose the Right Personal Loan: Avoiding Mistakes and Finding the Best Fit.