LOAN TERMS:
Lender
LOAN TERMS:
Union Bank of Nigeria
Eligibility
LOAN TERMS:
For All Payroll customers and senior citizens who must be earning a minimum monthly salary of N15,000 and N10,000 for senior citizens. They must have received a minimum of one month salary or pension with UBN plus 3 months statement from the other bank.
The age range is 21 to 60 for payroll applicants and a maximum of 70 years old for senior citizens.
Loan Limit
LOAN TERMS:
Maximum Limit: 50% of net salary or pension
Interest Rate
LOAN TERMS:
Maximum Interest Rate: 12 – 38% p.a (system advised).
Insurance: Not Applicable
Management Fee: 1%
Max Tenor
LOAN TERMS:
The repayment period is a maximum of: 12 months
Security Required
LOAN TERMS:
Salary or pension domiciliation.
Documents Required
LOAN TERMS:
Standard Letter of undertaking.
Duly filled Application form and Offer letter.
Account statement.
Document in Transit.
Retail loan Checklist.
Approval Time
LOAN TERMS:
About two to seven working days from the time you submit all the required documentation
