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What Kind of Personal Loans Does Teba Bank Offer in South Africa? Lending programs, Quotes and Financing Terms

Do you need a personal loan to remodel your home? Is it time to change your car? Do your children need to start school? If you are short of money, don’t panic. There is always something to help, and in this case, you can take advantage of Teba Bank Personal Loans. In this article, we will focus on the different options of loans and we will provide you details about quotes, requirements, interest rates and financing terms.

               Before starting developing details about the loans, we have to explain you that since many years, Teba Bank has changed its names and it is currently known as UBank. The company has its foundations in identity, uniqueness and heritage and in its 35 years of services, more than half a million citizens have chosen them. Nowadays, it has a exclusive department destined to work on lending so as to improve loans on a daily basis.

ULend and its characteristics

Do you have a big dream to make it come true? It can only be figured out with a big loan. Let’s take a look at the features corresponding to the loans:

a. There are amounts of money available that can reach up to R180 000.

b. As far as financing periods are concerned, you can choose the most convenient for you between 1 and 72 months.

c. Once the loan is approved, you will have the money in your bank account.

d. Clients can receive the money in account at other banks.

e. Interest rates can be monthly or annually (developed later).

f. You can apply without moving from your home.

g. There are many ways of contact that can work at your advantage.

h. Some charges apply, either for application or administration (developed later).

What Are the Charges That Are Involved in the Lending Programs?

If you are thinking about applying to a UBank loan, there are some charges that you cannot ignore, and let me explain that answering to the above question. The first thing you have to take into account is interest rate. Depending on the length of the financing period you choose to repay a loan, interest rates will vary. In fact, you will pay approximately 5% of interest rates per month for short terms and 28% annually for longer terms. Apart from interest rates, there are also some initiation fees included. For the first R1000 you ask, you will pay 16.5%, then, you will pay 10% of every thousand. This fee includes VAT. And last, but not least, there is another charge to bear in mind: monthly services. Although it would be included in the final quote, you have to know that you will pay a fixed amount of R68.4 per months to cover such administration charges.

UBank Loans: Requirements

Before starting an application process and in order not to delay such process, be ready to comply with the following requirements:

-You have to be a South African citizen between 18 and 65 years. You are required to show the green bar-coded identity book or you ID Smart Card. In case you are not a citizen, you will have to show a work permit in a legal passport.

-You won’t receive the money if you don’t have a fixed income. That is why you need your latest payslip.

-Please bear in mind that money will be ready in a bank account. That is why you should be the holder of an account at UBank, or in case you work with another bank, you have to present your last 3 monthly statements.

Possible Quotes: Calculation and Monthly Payments

For a loan of R40 000, there are many options available. For example, you can finance the money in a year and make 12 payments of R4094. If this sum is high for you, you can divide payments in two years and pay 24 quotes of R2380.31. You can even choose a longer financing term and repay the loan in 3 years by making 36 payments of near R1823. And finally, for the longest financing term, quotes of R1305 are available.

For a loan of R180 000, the highest amount available, there are also many plans. You can choose a term of two years and make 24 payments of R10236. If you need to pay less per month, you can make 36 payments of R7786. In case you prefer the longest financing term (72 months) to pay less per month, the quote would be of R5510.

Ubank: Contact Information

Fortunately, having access to UBank is really easy. One alternative you have is by visiting an office in person. As an example in South Africa, there is a branch situated in Midtown Mall, whose address is Boo Street, in the city of Rustenburg. But you can also visit offices in other cities, such as Randfontein.



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If you don’t want to move from home, you can be assisted by other means. Take your phone and dial up 086000 8322. Or in case you want to contact the office in Rustenburg, please call +27 14 594 6600. You can also write e-mails with questions and comments to one of the following addresses: callcenter@ubank.co.za or CustomerCare@ubank.co.za. In case you are in a hurry and you want to start application shortly, please, visit the official webpage and complete the “Application Enquiry Form”. This process won’t take more than 10 minutes.

Too much information? Do you need a summery? Please take a look at this chart:

Personal loans

Yes

Amount of money available

R180 000

Business loans

No

Financing terms

Up to 72 months

Interest rates for short term loans

5% monthly

Interest rates for long term loans

28% annually

Extra fees

Yes

E-mail

callcenter@ubank.co.za

Online application

Yes

Office in Rustenburg

In Midtown Mall

               All in all, stop losing your time! Contact UBank (former Teba Bank) so as to get the money you need as soon as possible. There is no more time to delay dreams. Get the money, make them come true and enjoy the life you are in search of, this is your opportunity!

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Leave your questions or comments

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Questions and Answers

Are there some extra charges for lending?
Yes, there are.
Do I have to pay VAT?
Vat is included in the monthly quotes.
Can I apply by phone?
Be sure to have all you need and a representative will help you.

Leave your rating about What Kind of Personal Loans Does Teba Bank Offer in South Africa? Lending programs, Quotes and Financing Terms

(5,00) / 3 Ratings

Rating: 5
Comment: There are minimum requirements to get a loan.
Rating: 5
Comment: I work with another bank and UBank gave me the money!
Rating: 5
Comment: Application is really fast.

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