How to get UBA FX Cash Backed Loan

You can get up to 10 million naira or 85% of your FX deposit at 18% per annum.
You also enjoy a flexible repayment period of 36 months. This loan product is designed for customers with domiciliary account, funded FX deposits. You can have access to finance for investment purposes or to meet the financing needs of relatives in Nigeria. FX Cash Backed Loan 85% of your FX deposit at 18% per annum

Product Features & benefits

  • ·         Maximum loan amount shall not exceed N10 million
  • ·         Maximum of 85% of FX Savings or deposit value calculated at the Bank’s prevailing rate (buy rate)
  • ·         Convenient repayment period of 36 months
  • ·         Interest rate as low as 18%
  • ·         One-off management fee of 1%

Eligibility Criteria

  • ·         Functional FX savings or FX current 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

How to apply for UBA FX Cash Backed Loan

  • ·         Visit a UBA branch to complete a loan application form
  • ·         Submit a completed loan application form with supporting documents at any branch
  • ·         Execute an offer letter detailing the loan terms and requirements, following loan approval
  • ·         Loan will be disbursed into salary account domiciled with the Bank