Umba Loan App: Review (2024), requirements, how to apply for the loan

Banking Loans

With Umba banking and Loan app, you can make free cash transfers,  make purchases and get instant online loans up to NGN30,000 to attend to urgent cash needs. This app welcomes you to Africa’s digital bank and it’s amazing features.

The information provided in this article concerning this app is based on information available from the owners of the umba app.

Umba provides you with the best banking experience, when you want financial services. Whether it is zero balance account opening, unlimited free transfers, smart & affordable loans and up to 3% cashback on every bills pay and airtime purchase. When they say they got you covered, they really mean it. S Consider witching to Umba today!

Steps To Join Umba

To join the the Umba family, simply follow the 2 easy general Steps below:

1. Download the app and open an account

2. Fund your account and start transacting to earn rewards

 

Requirements For getting Umba loan

If you are a Nigerian trying to join the Umba family to enjoy the benefits, like getting a loan from them, you may simply proceed as follows:

1.   Download the Umba app from app store to install on your phone

2. Follow the step by step prompt to get registered

3.  Verify your identity – Valid ID (Driver’s license, International passport, Voter’s or National ID card)

4. Supply basic requirements – Utility Bill, BVN/NIN

5. Fund your Umba account via a debit card or transfer money from another bank.

 

Features of Umba Banking And Loan App In Nigeria

In the Nigerian banking market, using Umba app offers you the following benefits:

1. Zero fees – no unnecessary charges

2 You will enjoy unlimited free transfers to any Nigerian bank

3. You will Get a loan – smart and affordable loans

4. Loan at Low interest rates

5. Loan at Flexible repayment terms.

6. You will Spend & Earn – imagine a bank that pays you for transacting

7. You will Enjoy up to 3% cashback on every bill payment and airtime purchase

8. You will get N10 when you refer a friend and family. Detailed earnings and analytics are available on the rewards tab on the app.

 

9. Safety of funds – highly secured and data privacy compliant.

10. Security pins (OTP) and photo verification process are in place for the transaction security.

Features And Benefits Of Umba Loan

In Nigeria financial market, the following are the main features and benefits of Umba Loan:

1. Umba makes getting a personal loan simple. How? They use the data on your smartphone to verify your identity and create a credit score.

2. You can Apply for loan by linking your other bank account(s) for credit scoring upon verification and ratings loan is accessible.

3. Repay the loan in due time to increase your loan limit/credit ratings.

4.Umba loans have a maximum and minimum duration of 62 days.

5. Credit amount: From ₦2,000 to ₦30,000

6. Terms: 62 days

7. The maximum annual interest rate of 10%

8. Commission: 0% (No commission)

9. VAT: 0%

10. Maximum APR (Annual Percentage Rate): 10%

Example

Here is what the above means: for a loan of ₦10,000, there is a 10% interest rate i.e. ₦1,000. So at the end of the term of 62 days, you will be required to pay ₦11,000. No late fees, no rollover charges, or origination fees.

 

11. Loan amounts and interest rates vary.

12. Limits and fees on transactions vary based on the type of transaction, transaction history, payout location, payment instrument, and delivery method.

 

 

Feedbacks From Customers Of Umba

Many customers of Umba who have used the app to access loan and other services comment that it is legit and it works well in being fast and reliable. They are happy with it.

However some Customers of Umba complain about frequent malfunctioning or even crashing of the app particularly anytime the app is updated.

 

Umba customer care service

They would love to hear from you! Feel free to contact them using the details below:

Email: [email protected]

Website: https://www.umba.com

Facebook: umbamobile – https://www.facebook.com/umbamobile/

Twitter: @umbamobile – https://twitter.com/UmbaMobile

Instagram: umbamobile – https://www.instagram.com/UmbaMobile/

In conclusion, the above information about Umba loan app is provided to assist you when you have need for loan to enable  you weigh this against other options open to you so as to take an informed decision.

 

Equally note that our website, growfinance, neither gives loans nor promotes any loan app over the other but merely gives information to the public based on information available from app owners

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