UBA Senior Citizens Loan
You can age gracefully, we got your back.
UBA Senior Citizens Loan
The UBA Senior Citizens Loan is designed to support Pensioners within the age bracket of 50 – 75 years. You can get up to N15 million to start a retirement project, travel the world and do much more.
Features
- Convenient repayment period of 36 months.
- Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan).
- Maximum loan amount is N15 million.
- One off management fee of 1%.
- Credit Life Insurance – 1.6% covering Death, Permanent disability and Critical.
Requirements
- A functional UBA account.
- A pension Identification number.
- 3-months consistent pension remittance through UBA.
- Minimum net pension fund should not be less than N100,000 monthly.
- Age limit for customers is 50-75 years.
- A valid Nigerian ID (Drivers licence, International passport, NIMC, Voters card).
- Submit a completed loan application form along with other required documents at any UBA branch nationwide.
- Sign an offer letter detailing the loan terms and Conditions.
- Loan amount will be disbursed into Customers UBA account.
How to apply
Loan calculator
Select the loan amount, rate, and duration to get started
Get started now by opening an account of dial *919#
Frequently Asked Questions
Here, you'll find answers to the most common questions about our loan offerings specifically for senior citizens of UBA.
Does UBA give loan to pensioners?
Yes, UBA gives loan to pensioners.
What is the minimum pension allowance I must earn to qualify for the loan?
N100,000
What is the maximum tenor I can take the loan for?
Maximum of 36 months.
Is there an age limit on the product?
Customer should be within 50-75 years old.
Do I need anything from my PFA?
Yes, you need your most recent statement of account from your PFA.
How do I start the process?
Visit the nearest UBA branch around you to make your loan request.
Do I need to have an account in UBA?
Yes, you must have a UBA account to access the loan.
Must my pension allowance come through a UBA account?
Yes, your pension allowance must be paid through a UBA account.
My pension is paid into another Bank, how do I benefit from this loan product
Instruct your Pension Fund Administrator of your interest in UBA and change of domiciliation of your allowance to UBA. Once that is done we will verify the domiciliation and the consistency for a minimum of 3 months.
Is it possible I paydown on the loan when I have sufficient amount?
Yes, this is possible.
