Compare the best loans of South Africa and find the lowest rate
ubank is a South African entity that helps the mining community have a better and secure life with their plenty of products. In this case, we’ll direct the attention to the lending products they offer and the requirements you need to comply with in order to be eligible. For Pretoria citizens, we’ll go over other companies called Absa and African Bank located in this area. Either way, ubank works online so, this means you can work with them from any part of the country. We’ll also explain how can you make use of the online calculator and, how can you get in contact with these lending companies.
How to apply at ubank?
To take out a loan with ubank, you have to go through a Pre-Application Declaration first. Through this step, you assure the company you are employed, you don’t have any liability, you’re capable of paying debts and, you agree to be under a Credit Bureau Check. Once you submit that declaration, ubank will get in contact with you to go on with the application, which continues with some information about you and the loan you are asking. Then, you’ll be under affordability checks and, ubank will revise your request and documents to check the information, before your loan is approved. At the end, when you get the loan approved, you can have quick access to the funds through your ubank account.
ubank Loans Requirements
But, before submitting the previous declaration, you have to be sure you meet the terms ubank requires to be eligible. These are:
+ having a bank account.
+ being at least 18 years old but, not older than 65.
+ receiving a salary.
+ agreeing to get affordability checks.
+ presenting the following documents: - last payslip, which must be the original document.
- SA Identity Book or Passport with a work permit.
- proof of residence 3 months old at maximum.
* for not ubank clients, there’s an extra document required. They should present 3 months bank statements.
There’s an interesting tip to point out and, it’s that being an ubank client is not a requirement to apply for a Personal loan with them. So, even if you aren’t one of their clients, you can apply and take advantage of their benefits!
ubank Loans Rates and Amounts
This company offers Personal loans that range from R1000 up to as high as R180000. The repayment term is flexible and, ranges from 1 to a maximum of 72 months.
ubank charges two fees when taking a loan with them; the Initiation fee charged only one time and, the Service fee which is charged monthly together with the installments. The interest rate is variable and joined to Prime. The Initiation fee is of 16.50% on the initial R1000 and from that amount onwards, 10% for every R1000. On the other hand, the monthly service is R68.40. Finally, they charge 5% on interest rate for short term loans and, 28% for other loans.
How to use ubank loan repayment calculator?
As we all know, getting a loan is a big deal and it’s important to know for sure you will be able of completing the repayment agreement. This may be a little difficult sometimes as clients do not always know how to calculate the fees and rates charged. Luckily for you, ubank provides their applicants with an online calculator they can use for free. Next, you can read the explanation and, an example.
To start, ubank needs to know if the loan you request is new and, your employment status. Once that’s settled, they need you to submit the loan amount, and the term you want. And that’s it; with that information; the calculator will show you the estimated repayment amount.
Let’s see the example. If you need R57000 and, you choose to repay it in 52 months, your monthly payment would be of R2198.35. Now, if this repayment amount doesn’t work for you, you can change the term until it does. For example, if you extend the term to 64 months, you’d have to pay R2014.77 per month. You can go on trying different terms and loan amount until you reach one you feel confident you can afford without much problem.
ubank Loans Contact
Now, we’ll expand on the contact details for ubank. Then, we’ll refer to the other companies’ addresses in Pretoria: Absa and African Bank.
ubank’s headquarters can be found in Midrand directing to 10 Matuka Close, at the Extension 49. The telephone to reach this office is 011- 518 5000 and, you can also contact them through this email address: email@example.com. Besides, they have a Call Centre that you can contact from any part. If you are in the country, you should use this number, 086 000 83 22 and, if you are abroad you should call to +27 11 51 85 780.
If you live in Pretoria, there are some banks you can contact. For example, Absa is located at 417 Veale Street, Nieuw Muckleneuk. Or, there’s also African Bank which is placed at street 8 WF Nkomo, in shop 8, Pretoria Central.
As regards Absa, they have loans to get a vehicle, a house, to pay for your studies or just for yourself. If we refer to African Bank, you can choose among Personal Loans, Consolidation Loans or, The 15% Loan.
As you can see, you have quite few alternatives to choose from. No matter what you need the money for; these entities can be of great help.
ubank Loan Information
Take a look at this table to get ubank information gathered in a practical way:
Maximum of R180000
From SA 086000 83 22
Ubank House, 10 Matuta Close, Extensions 49, Midrand
Maximum of 72 months
SA citizen, employed.
To sum up, if you’re a worker of the mine, you have a reliable entity to work with. You can feel safe you and your family can get the help you need to get through a rough time.