In need of a personal loan for home improvement, travel or any other unexpected expenses? A Ubank Personal Loan has got your back with higher loan amounts of up to R180,000 and flexible payment terms. Take advantage of its low-interest rate and longer repayment term to settle the borrowed amount. It’s incredibly easy to apply too.
Read on if you are interested in applying for this loan and find out about the requirements needed.
Features of the Ubank Personal Loan
Personal loans exist to help you settle urgent matters concerning your life. Be it for a wedding, vacation outside the country or home improvement plans, you can definitely get access to funds to make these things happen.
Now, what makes Ubank Personal Loan unique is its incredibly low-interest rate and higher loan amount. Some banks may only allow up to a maximum amount of R100,000 for customers. However, with Ubank, you can enjoy up to R180,000.
Another reason to love the Ubank Personal Loan is the fast and smooth fund transfer. Once your loan application is approved, you can already expect the fund on your Ubank account. This is safe and definitely convenient instead of carrying cash or having the cheque cashed.
Affordability checks are also offered by Ubank to find out if a loan amount is manageable for you. In case you need a bigger amount to loan, you can always request directly to the bank and see if you will be granted.
For customer’s support, you can count on Ubank. They have an excellent support team to guide you through the process and ensure that everything’s on the right path.
Ubank Personal Loan Application
To successfully collect the funds you need, you must be able to submit your application and other supporting documents. To get started, you can visit the Ubank website and click on Apply and provide personal details like complete name, residence, phone number and marital status. You’ll be asked about your annual salary and employment status too. In addition, you must also present the latest original payslip, proof of address, South African identity book, Passport and bank statements for the last three months.
For the loan amount, it can be between R1,000 to R180,000 maximum. You can provide the desired amount but Ubank will still be the one to accept or reject the request.
Fees and Charges of the Ubank Personal Loan
For a short-term loan, you are charged 5 per cent interest rate. However, for loans with more than 12 months repayment term, a 27.75 per cent interest is charged. In addition to the APR, there’s also initiation fee of 16.50 per cent for the first R1,000 and 10 per cent for every thousand thereafter. Moreover, a monthly service fee of R69 is charged, but this is inclusive of VAT.
Overall, the Ubank Personal Loan is a great choice for those who are in need of funds for personal expenses. The process is straight-forward and you’ll get the money you need in no time.