Are you looking for a loan app with no extra fee after meeting your deadline for payment? If so, then you should try out Umba.
Umba is an online bank that offers loans and other financial services you can do with your offline banks, such as transferring money, paying bills, and much more.
However, if you’d like to know how you can loan money from Umba, this article is for you. In this article, we talk about all you need to know regarding receiving a loan from Umba.
How to Loan Money from Umba
If you want a loan from Umba, there are little things you need to do for Umba to loan you.
● Firstly, you will have to create your account. And to create an account, you will have to download the app.
● Secondly, certain details will be asked of you to submit to get a loan—failure to submit the right requirements needed, you won’t be able to loan money from Umba.
Umba Loan Requirements
If you want to apply for a loan from Umba, there are requirements for you to be qualified for the loan. To be qualified for a loan on Umba, you must have all these:
● You must have your national identity card.
● You must have a valid phone number.
● You must also have a valid bank account number
● And lastly, they will request to have access to your phone.
These requirements are asked to know if you are eligible for a loan or not.
How Much Can You Get As a Loan from Umba
If you want a loan from Umba, there’s no limit to the loan you can receive. Nonetheless, if you are a newbie on the application, they have a minimum loan of at least ₦2000 and a maximum of ₦30000. Besides that, the amount of loan you can get from Umba increases depending on how well you pay back the already received loans.
Umba Interest Rate
Umba’s interest rate varies from 10% – 27%. They also have a monthly interest ranging from 1% – 14% and also an APR of 12% – 180%. In addition, Umba does not have late or rollover fees like every other app, and their loan terms last 4 weeks and 16 months.
Umba Loan Terms
When you want to receive a loan from Umba, you have to accept Umba loan terms, and for you not to accept the terms means there aren’t any ways for you to be loaned. One of the terms of Umba includes that they will have access to your phone, including your contacts.
How to Repay for Umba Loan
Maybe Umba loaned you money, and you want to repay the Umba loan. To do that, you have to visit the application. Besides, below is a detailed guide on how to repay your loan in the Umba application.
● Open the application
● Find the loan tab and click it
● Click on the make payments button after seeing your active loan.
● Click on your preferred repayment methods, either USSD, bank transfer or any method you see.
● Then make your payment.
Umba Loan Head Office
If you want to visit Umba headquarters and don’t know where their head office is located, they are in San Francisco, California, United States.
Umba Customer Care
If you want to contact Zumba customer care service, you can visit their Contact Us page.
Umba application has over 24,000 downloads on
Google play store. And without downloading the app on your phone, there’s no way you can have access to requests for a loan from umba.
Umba’s official website is https://www.umba.com