Are you in need of a quick loan from unity bank but you do not know how to go about it?
Unity bank instant loan is open to every regular income earner who needs such a product for personal or business needs.
This article will provide answers to it. However, do note the unity bank loans can be obtained on all their digital channels including mobile app, social lender platform and internet banking platform.
The bank like every other commercial bank in Nigeria has lots of loan products you can tap which we will be discussing on this page.
Most payday loans are not backed by collateral. However, collateral may be asked depending on how risky a loan is. In the event that collateral is not asked by the bank, they may choose to use the financed asset as collateral especially if you apply for an asset or automobile loan.
Meanwhile, this article will comprise some of the best unity bank loan products suitable for salary income earners and self-employed individuals .
UNITY BANK LOANS AND HOW TO APPLY
1. Unity Bank Salary Backed Loans
Salary Backed Loans is a loan designed for customers who need loan products with one week to three months tenor. This loan can be used for almost anything which includes children’s school fees, home improvement, upkeep or to improve your side hustle.
To access Unity Bank Salary Backed Loans, you must have your salary account domiciled with unity bank.
To get the instant loan, you will need to visit the UBA Branch. A loan application form will be given to you which you are to complete and return to the bank officer.
2. Salary Advance
As a salary income earner, a lot of things could happen before the next payday. An urgent need which can’t wait till you are paid but with Unity Bank Salary Advance, you have a way out.
However, this loan product is only for employees that are on salary and with their accounts domiciled with Unity Bank. The loan is also quick to get, it is just dialing a ussd code which we all know is the quickest and easy way to get loan.
Each successful applicant can get up to N50 million naira from the bank with a flexible repayment plan. Nonetheless, what you get from the bank will depend on your monthly income. No documentation or collateral is required.
To apply for a salary advance, visit any Unity Bank around you.
3. Asset Acquisition Finance
If you need to make an improvement to your home or get your own personal car but you are short of the needed cash, you could get a Unity Bank Asset Acquisition Finance to acquire personal and consumer assets ranging from personal electronics to automobiles.
This product is designed for salaried workers. However, the bank can also give loans to self-employed and SMEs but there will be a need to assess your regular income.
Customers applying for Asset Acquisition Finance are expected to complete documentation. On the collateral part, the financed asset will serve as collateral.
Customers can reach out to Unity Bank Customer Care to apply for Asset Acquisition Finance. The unity bank customer rep will provide you with a form which you are expected to complete and return with all necessary documents. The documents include Completed Mortgage Application Form, Employee Status, Employer’s Confirmation Form, and Letter of offer from the property seller.
4. Unity Bank Social Lender
Unity Bank Social Lender offers quick cash to members of Unity Bank Community based on their social reputation. The bank will access your social media reputation on mobile, social media platforms, and online to know if the loan can be given to you.
However, these are just a small loan but could come in handy when you need an instant loan since it does not require documentation and collateral. The minimum and maximum loan amounts are N1,000 and N100,000 respectively. The loan tenor is 30 days.
If you are a first-time user, you may be unable to get more than N10,000 or even lower which depends on your Social Reputation Scores. The interest rate ranges from 5% to 20% of the disbursement amount.
To apply for Unity Bank Social Lender, visit unity.sociallenderng.com, and use any of the social media platforms. Do note that the bank may request for additional social media page if the one submitted is not enough.