Personal loans are more common today than they were before and you may have already noticed a number of institutions offering them. Unfortunately, many people today fall on economic hardships at some point in their life and this is often where personal loans, like the UBANK personal loan, come in handy.

UBANK is one of the major players in the banking industry if you want to secure a fair personal loan. The term “fair” can be overstated or overused in most scenarios, but not when it comes to getting a personal loan with this bank.

Answers to some of the questions ringing in your mind can be found below. Questions like “how do you apply?” and “how do you know that you even qualify for a loan with UBANK?” will be answered here. You will also get to see what fair means – in terms of interest rates charged by this bank when it comes to a personal loan.

Benefits of a Personal Loan with UBANK

Like any other bank that offers loans, there are a number of benefits that you get when you apply for a loan with UBANK. One of them is that you don’t have to be a customer of the bank to apply for a loan.

You also get a flexible payment term with the bank that gives you a lot more breathing space than other banks.

So, what exactly are the perks of applying for a personal loan with UBANK?

Flexible Repayment Terms

One thing that scares people when it comes to loans is the payments plan that most banks offer. With UBANK, however, you don’t have to worry about that as you surely have enough time to repay your loan.

You have anywhere from 1 – 72 months before you can clear your loan which is ample time.

Credit Limit

When you apply for a personal loan with this particular bank, you can apply for as much as R.180,000. This is a good amount that will ensure you are able to get your needs met.

Interest Rate

The interest rate is variable when it comes to a personal loan with UBANK. You have a rate that is somewhere around 7.4%, which is quite a fair amount. Some may look at the variable APR as a disadvantage but the market can be lower at times as much as it can go higher.

Eligibility and How to Apply for a Loan

To apply for a loan with UBANK, you need to find out if you’re eligible for the loan. You need to be at least 18 years old to apply for the loan and you shouldn’t be more than 65 years old. You also need to be earning as the bank will check your bank activity before approving your loan.

When it comes to the actual application process, you can walk into any of the bank’s branches to start an application.

However, if you want to avoid crowds, you can apply for a personal loan with UBANK online today in the comfort of your home. Just go to the UBANK website and begin the application process.

Alternatively, you can use this link to go straight to the application form and start your loan processing today. The form is easy to fill and you can be done with it in a matter of minutes. You need to have some required documents which you can learn more about here.

What to Have on Hand When Applying for a Personal Loan with UBANK

When applying for a personal loan with this bank, you need to have certain documents on hand. Such documents include your latest payslip – this should be an original copy. You can scan one and send it to the bank when you apply online.

You also need to prove your physical address. With this, you should have lived there for close three months at the very least. The last part of the requirements is that you have to be able to provide your bank statements.

They should date back at least 3 months or so, especially if you aren’t a UBANK customer.

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Fees Charged

The other part about taking up a personal loan with UBANK that you should look into is the fees that are charged.

First, you have to pay an initiation fee, then there is a Credit Life Assurance Premium, and, lastly, you have to pay a monthly service fee.

  • Initiation fee – 16.50% for the first R1,000 & 10% of every 1,000 after that (max R1,207.50 including VAT)
  • Monthly service fee – R69.00
  • Indicative interest rate (short-term loans) – 5% each month and other loans at 27.50% each year

However, these fees may fluctuate, and your interest rate will depend entirely on the length and cost of your loan plan. So, to learn more about the exact costs of the UBANK personal loan, contact the bank directly or get an estimate with the loan calculator on their website.

Bank’s Contact & Address

You can get in touch with a representative of the bank through +61-2-8756-0855.

The bank’s head office is located at 10 Matuka Cl, Carlswald, Midrand, 1684, South Africa.


You can easily get a personal loan with UBANK today and it doesn’t take much. All you have to do is ensure that you meet the requirements that the bank has set. In addition, you don’t have to be a customer at the bank to get the loan.

Note: There are risks involved when applying for loans. Consult the bank’s terms and conditions page for more information.