You are currently viewing Union Bank Pay Advance – 1

Union Bank Pay Advance – 1

Lender

Union Bank of Nigeria

Eligibility

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

Maximum Limit: 50% of net salary or pension

Interest Rate

Maximum Interest Rate: 12 – 38% p.a (system advised).
Insurance: Not Applicable
Management Fee: 1%

Max Tenor

The repayment period is a maximum of: 12 months

Security Required

Salary or pension domiciliation.

Documents Required

Standard Letter of undertaking.
Duly filled Application form and Offer letter.
Account statement.
Document in Transit.
Retail loan Checklist.

Approval Time

About two to seven working days from the time you submit all the required documentation

Thinking About Repayment Plan?

Calculate the monthly payment and overpayment for the loan
10 00010 000 000
160
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