Asset Finance
Live better.
Convenient Asset Financing Tailored for You
Get financing for the purchase of household appliances, alternative power solutions, etc. with the UBA Asset Finance and pay back conveniently over a period of 24 months. You can purchase a variety of assets ranging from smartphones, furniture, laptops, household appliances, inverters, generators, etc.
Features
- Access to a wide array of reputable dealers/retailers.
- Convenient repayment period of 24 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 of N3million.
- Minimum loan amount of N35,000.
- Minimum equity contribution of 30%.
Requirements
- Functional savings or current salary account.
- Duly completed loan application form.
- Valid means of Identification (international passport, national driver’s license, national id card and voters card).
- Employer’s undertaking to domicile salary with UBA.
- Duly accepted offer letter or employee inquiry form (The offer letter should contain Employee Name, Employee Job Description/Position; Nature of Employment (Permanent or Contract); Employee Job Status (Confirmed or unconfirmed).
- Copy of the obligor’s staff ID.
- Get pro-forma invoice (PFI) for preferred items from any approved vendor.
- Then visit a UBA branch to complete a loan application form.
- Execute an offer letter detailing the loan terms and requirements, following approval.
- Pick up preferred items from the vendor.
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
Explore our comprehensive FAQs to learn all about UBA Asset Finance, including how it works, eligible assets, loan requirements, and more. Get the details you need to make informed decisions.
How does Asset Financing work?
It offers loans to customers whose salaries are domiciled with UBA for acquisition of assets of their choice from any of the approved vendors by the Bank.
What types of asset can be obtained through the Bank?
With UBA Asset finance loan, you can acquire the following asset categories:
- Home appliances
- Electronic devices
- Phones
- Generators
- Solar systems
- Furniture
Can I apply for multiple asset?
Yes, provided your income can support additional facility, subject to approved percentage of your salary for loan repayment.
Can I request for a loan to buy required assets from 2 different vendors at the same time?
No. However, you can get a Personal Loan to acquire assets from different vendors.
Do I need a collateral before I can access the loan?
No. You do not need a collateral for asset financing. The asset financed serves as collateral.
Are there after sales service for the products, like repairs?
Yes, there are after sales service on certain items as specified by the vendors.
What is the maximum amount of asset I can get a financing for?
N3,000,000
What is the minimum amount of asset I can get a financing for?
N35,000
What is the minimum equity contribution on Asset finance product?
Customer is required to make available a minimum equity contribution of 30% of the cost of asset to be acquired, whilst the Bank will provide the balance of the cost as loan.
