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How Can I Use the ubank Loan Calculator When Applying for a Loan? Requirements and Rates



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     When referring to look for the most suitable lending companies for people working in mines in South Africa, we can’t forget ubank Loans. Thanks to its online calculator, applicants can calculate the money they can ask for and, the cost of it. Also, because its simple requirements and variable rates, ubank is known as an entity that’s worth paying attention to. If you read along this article, you’ll find out facts that prove what I’ve just stated.

How to calculate the loan with ubank?

    To begin, I want to clarify there are two calculators. One of them can assist you on the fees you may have to pay when making transactions. And the other is the one you need to use before you apply for an ubank loan. In this occasion, I’ll refer to the second option so as to give you the tools to make the most out of your loan.

     As nobody’s intention is to get in debt when asking for money, the best idea is to have an estimated of the monthly cost of the loan in order to be totally sure the payments can be cancelled properly. So, pay attention to the following data as it will be about how to use ubank online calculator. Besides, there will also be an example to make the explanation easy to understand.

    There are two simple but important pieces of information ubank will ask you before using the calculator: if you’re intended to ask for a New or a Top-Up loan and, if your type of employment is Permanent or Contract. Even though this last piece of information seems to be irrelevant, it will have an impact on the cost of the monthly payments and you will see it with the example later.

Next, ubank clients must select the loan size, which can be up to R180000 and the Term, which can reach a length of 6 years. Finally, as simple and quick as that, you can calculate and, if you agree with the result shown, apply for the loan.

ubank Loan Calculator: Example

    If we imagine you need the maximum quote available for the maximum period possible, you would select R180000 and 72 months. If you have a permanent job, the calculator would inform you that your 72 payments would be of R5867.94 each. But, if in the Employment Type space, you choose “Contract”, the payments would be of R5635. As it’s been shown, your job will help determine the cost of the loan.

Ubank Loans

What’s the minimal Quote?

Quotes start on R1000

Variable Rate?

Yes!

Phone

You can call 08 60 00 83 22

Direction

Find a branch in Midrand at Matuta Close, 10.

What requirements should be met?

Be an old enough SA citizen with a job.

Where to send enquiries?

Write to customercare@ubank.co.za

After the calculator explanation and the previous chart that shows key information, we are now ready to take the next step.

How to apply with ubank Loan?

    Once you decide on the terms you want by making use of the online calculator, you can move on to apply for the loan. Before doing this, there are certain requirements you need to take a look at. One criterion they pay attention to is the age applicant, which can’t go beyond 65. Also, applicants must own a bank account and have any kind of job for which they’re salaried. A special characteristic to mention is that banking with ubank is not a requirement.

    Besides, keep in mind this entity will carry out some checks (Affordability checks, for instance) they need so as to know who of the applicants can really afford the loan.

Lets’s delve into the application stages:

                1- Check you meet ubank requirements.

                2- Calculate the installments trough the online calculator.

                3- Complete the Declaration of Pre-Application. (You must confirm you don’t have outstanding debts, you’re employed, you agree to be under Credit Bureau among some other points).

                4- Present the form.

                5- Submit some documents to back up the past information.

                6- Wait for the approval of the loan.

                7- If you get the confirmation, you can access the money almost immediately using a ubank account.

ubank Rates and Fees

You’re now probably wondering about what you’ll be charged so, I’ll expand on that information.

    As with any company, when you pay the monthly installments, you’ll also pay some other fees. Every month you should pay a monthly service fee, credit life assurance and, the interest rate. Apart from this, you’ll pay a onetime Initiation Fee.

    Bear in mind, these fees depend on the loan and term you get and, your situation after revising your finances.

ubank Contact Details

    ubank is always willing to help their clients with any doubt or, even to listen to them if they have any sort of complaints. If you need to get in touch with them, now I’ll detail that information.

    If you want to take advantage of the most comfortable mean of communication, write an email to customercare@ubank.co.za and, wait for the answer.

    If you prefer to have an immediate response, call the Customer Service they offer, 011 51 85 202. They also have a fax number in case you prefer to send private documentation in a safe manner, 086 75 41 239.

    Other telephone options are: if you’re outside South Africa, 27 11 518 5780 or, inside the country, 086 000 8322.

    Lastly, the ubank House can be found in Midrand. Directing to number 10 Matuka Close in Erand Gardens, there you can see it at Extension 49. All the same, they have many branches and ATMs all over SA so; you just have to look for the one that’s placed closest to your house. You can find it via ubank web page and, have the easiest and quickest access to your loan.

    To sum up, ubank Loans is a lending entity that has helped many South African in the way to make their dreams come true or, simply giving them that little financial push they needed. If you happen to need financial assistants, you should keep an eye on ubank and have it as an alternative.



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Leave your rating about How Can I Use the ubank Loan Calculator When Applying for a Loan? Requirements and Rates

Ratings

Rating: 4
Comment: I had almost no waiting time to finally get the money.
Rating: 4
Comment: My rate with ubank was the lowest I could get with any company.
Rating: 3
Comment: My son applied with them and he said they were professional and friendly.

Questions and Answers

How do they decide on the rates?
It depends on the type of loan. If you take a short term loan, the rate is 5% (monthly) and, if you apply for a longer term loan, the annual rate is 28%.
Does ubank Loans work only for big purchases like electronic gadgets?
Not necessarily. You can also take a home loan, for instance.
Is it convenient to apply if my job isn’t stable?
The best option for you is to wait until you have a regular income so, you’ll know if you can afford the loan.