Life is full of surprises. Financial surprises aren’t always pleasant and require one to think fast on their feet. Having one’s finances in order is always commendable, but there are often months whereby unexpected expenses arise and demand immediate attention.
UBank is an institution that has personal loans designed around individual needs. Loans are offered from R80 000, with flexible repayments of 1 to 60 months. Interest charged is dependent on individual risk assessments.
Ubank has a history of almost 40 years in the financial industry. Initially starting out by serving a niche market (mineworkers and their families in the 1970’s) as Teba Bank, UBank eventually expanded.
Who is eligible to apply?
Loans are available for individuals aged between 18 and 65 years old. Applicants need to have a good credit record.
What is needed for application purposes?
- A valid South African I.D. or a South African passport
- Latest payslip
- Proof of physical address (not older than 3 months.)
- Your banking details and last 3 months’ banking statements (non-UBank clients)
- Two different contact numbers
- A list of your expenses
- If you are married in community of property you will need to obtain written consent from your spouse
UBank Personal loans are designed with transparency, to ensure that clients understand the terms of the loan completely. UBank Personal Loans state the following clearly:
- The amount the client is borrowing
- The number of instalments and how often clients must pay
- The amount payable every time payment must be made
- The amount of time the Personal Loan must be paid back in
- The amount of interest that you will have to pay
Loan amounts are calculated to include an initiation fee, monthly service fee and Credit Life Assurance Premium.
Interest rates on loans are linked to Prime.
Call: 0860 00 8322 or for more info visit Ubank