Life is unpredictable and comes with many surprises in different forms. Financial surprises can be good or they can come in the form of nasty shocks. Avoiding the latter by acting as a financial buffer during the most critical of times is the specialty of Ubank Loans. Individuals often need extra assistance to handle payments associated with expensive education fees, home renovations, arranging funerals or handling car repairs. Ubank aims to provide personal loans so you can enjoy life’s little surprises without worrying about how to afford them.
Up to R80 000 in personal loans is offered with flexible repayments of between 1 and 60 months. Interest charged is based on the client’s credit profile. As a responsible lender, Ubank facilitates an essential credit check, to check client affordability prior to the lending process. Qualification requirements include having a bank account, and earning a salary. Applicants, who need to be between 18 and 65 years of age, also need to present a South African I.D., their latest payslip, proof of residence (not older than 3months) and banking details with the last 3 months’ bank statements. Prospective clients also need to provide two different contact numbers: their own as well as a relative’s and a list of their expenses. If married in community of property, you need to obtain written consent from your spouse.
Fees associated with Ubank personal loans include an initiation fee, a monthly service fee as well as the credit life assurance premium. Fluctuating variable interest, linked to prime is charged.
Ubank supports responsible lending practices, and ensures that clients’ loan agreements are in line with stipulated regulations according to the National Credit Act. Credible loan agreements include the following details: The amount being borrowed, the number of instalments and how often they will pay, the amount payable every time a payment has to be made, the amount of time the loan must be paid back in and the amount of interest involved. Transparency is encouraged, with Ubank urging clients to communicate should any difficulties arise with repayments.
Ubank can be contacted on: 0860 008 322.