United Bank for Africa (UBA) Ghana understands this need and offers a range of loan products tailored to meet the diverse requirements of Ghanaians. Whether you’re a public servant, a salaried employee, or a business owner, UBA Ghana has solutions designed to provide quick and convenient access to funds.
1. Flexi Loan
The Flexi Loan is a consumer credit facility crafted specifically for public and civil servants aged 55 and below, whose salaries are processed through the Controller and Accountant General’s Department (CAGD). This product offers:
- Eligibility: Both UBA account holders and non-account holders.
- Loan Amount: Up to USD 25,000 (equivalent in Ghanaian Cedis) for applicants without a provident fund, and up to USD 50,000 for those with a provident fund.
- Collateral: No collateral required.
- Repayment Period: 36 months for non-provident fund holders and up to 60 months for provident fund holders.
- Additional Benefits: Competitive interest rates and the option for loan top-ups. Existing loans with other banks can also be consolidated under this facility.
This loan is ideal for financing emergencies or significant personal projects without the hassle of collateral requirements.
2. No Wahala Loan
Designed for the mass market, the No Wahala Loan provides salaried individuals with quick access to funds to meet personal financial needs. Key features include:
- Loan Tenure: Up to 24 months.
- Maximum Amount: GHS 5,000.
- Collateral: Not required.
This facility ensures that customers can address urgent financial requirements without undue stress.
3. Executive Loan
Targeted at middle to top executives of well-established companies with salaries processed through UBA, the Executive Loan assists in managing personal expenses such as bill payments, vacations, or educational fees. A significant advantage of this loan is the access to funds without the need for equity, providing a seamless solution to various financial challenges.
4. UBA Mortgage
For individuals aiming to acquire residential properties, UBA offers mortgage loans to partially finance such purchases. This product is tailored for high-net-worth individuals with stable incomes and includes options for home financing and equity release. It enables customers to buy fully developed properties in prime locations, ensuring good value for their investment.
Accessing UBA Loans
UBA Ghana has simplified the loan application process:
- USSD Code: Customers can dial *822# to access various banking services, including loan applications, without the need for internet connectivity.
- Application Forms: Prospective applicants can download the UBA Consumer Loan Application Form online or obtain it from any UBA branch. Once completed, the form should be submitted to the Customer Service Officer at the chosen branch.
UBA’s Commitment to SMEs
Recognizing the pivotal role of Small and Medium Scale Enterprises (SMEs) in Ghana’s economy, UBA has partnered with the African Continental Free Trade Agreement (AfCFTA) to support SME growth. Through this collaboration, UBA offers:
- Working Capital Loans: Overdrafts and short-term loans up to $150,000 in local currency to support daily operations.
- Asset Finance Loans: Funding up to $150,000 in local currency for acquiring operational assets and equipment, facilitating business expansion.
This initiative underscores UBA’s dedication to providing technical and financial solutions essential for the success of SMEs across Africa.
Conclusion
UBA Ghana’s array of loan products is designed to cater to the diverse financial needs of its customers, from individual salaried workers to burgeoning SMEs. With flexible terms, competitive interest rates, and a commitment to supporting economic growth, UBA stands as a reliable partner in achieving your financial aspirations.