Umba Loan App is one of Nigeria’s most trusted financial service suppliers in addition to Kenya. In this article, you will learn how to obtain the loan Umba Mobile offers in Nigeria.
We will also glance at financial options available through Umba Loan App.
Table of Contents
What exactly is Umba, and how can it be used?
Umba is a digital bank and lending platform that operates in the Fintech market. It uses currently within Nigeria as well as Kenya. The mobile app features an easy and clean user interface, which makes it easy to conduct mobile transactions.
Umba Loan App is highly responsive. Umba Loan App is also extremely responsive, which enhances its effectiveness. You can connect your utility accounts to the app and then finance the utility bill! Pay for electricity, water, internet, water, and more.
Mobile finance is available through Umba Loan App.
- Money Transfer
Yes. You can transfer money to family members, friends, relatives, and others via Umba Loan App. Umba Loan app. It is also necessary to open accounts with Umba. Once it is done, then you’re good to go.
To make a payment on the app, Follow the steps below.
- Log in or sign up for the app
- Click the “Send” button at the top of the application.
- “Add Beneficiary” Press “Add Beneficiary”
- Select the second option that reads “No, Add New Beneficiary.”
- Enter the bank‘s name and account number of the person you wish to transfer money to.
- Click the “Next” button to continue
- The payment of utility bills
If you’re a Nigerian, You can connect your utilities accounts to Umba Loan and pay directly for charges for your utilities. Pay for electricity, water and mobile data subscriptions, and many more.
To pay your bill on your Umba Loan App, follow the steps below.
- Start Umba Mobile. Launch the Umba Loan App and log in.
- Click “Bills” at the topmost portion of the app.
- You’ll have to set up an account to pay bills since it’s the first time you’ve done it.
- Select”New Bill. The “New Bill” button
- Click “Select account.”
- On the next screen On the next page, you can press “add new” and choose the kind of bill you wish to pay.
- Continue with the payment process
- Personal loans, for an instant.
You can get several ns ranging from N2,000 and N30,000 through the Umba Loan App.
At present, loans aren’t offered to Kenyan users. On the other hand, Nigerians can get loans via the app, provided they meet the conditions.
Umba Loan App requirements
If you’re a Nigerian looking to borrow money from Umba, You must meet the criteria listed below.
- A valid mobile number that you can remove the verification code.
- Then, you can use your National Identification (NIN). This is the identification of your name and proves your age.
- Bank Verification Number BVN is used to verify your bank details and ensure loan companies or other lenders do not ban you.
How can I download Umba Loan App?
Running your Umba Mobile app directly from the Google Play Store is possible. It’s a small file of 25MB and has more than 500 000 downloads. The current rating of 3.7 from more than 18,000 customers.
How can I obtain an installment loan through Umba Mobile?
If you meet all requirements and have installed the app, follow these steps to receive your credit via Umba Loan App.
- Log in or register to the Umba Loan App.
- Join if you’re an incoming user.
- In your Dashboard, look for the button that says “Loan” and click on it.
- “Umba Money Loan” Press “Umba Money Loan”
- Connect your bank account to your bank.
- Snap a selfie using the app.
- You must wait for the verification process to be completed.
- Click on the “Get Started” button.
- If the app asks to use you to add your ATM card, you must include it.
- You will be taken to the Umba money loan webpage.
- Select the amount you’d like to receive (between N2,000 and N30,000)
- Give the reasons why you are seeking the loan.
- Confirm the amount of your loan and then submit it.
The Umba Mobile staff will scrutinize the loan application you submit. Please note that you cannot determine the repayment terms via Umba Mobile. All loans are automatically repaid within a period that is 62 calendar days.
What amount of loan can you obtain?
You can apply for a minimum loan of N2,000 and a maximum amount of N30,000 through the mobile Umba App.
The tenor of loan repayment
As with other instant loan companies within Nigeria, Umba Mobile is not flexible in paying loans.
If you’re interested, whether you like it or not, the fact is that you must pay back your loan by day 62. That’s right. Umba loan service gives its customers a time frame of repayment of 2 months.
Umba loan interest rate
Umba Loan App charges an interest rate of 10 percent per loan you take out on their platform.
For instance, if you took out a loan of N10,000 via Umba Mobile, for example, Umba Mobile app, you will be charged an annual interest of 10 percent (N1,000)
It means that you’ll pay the total amount of N11,000 over two weeks (62 days).
Repayment of loans
You can also make payments on your loan using the Umba Mobile app on your smartphone. To complete this process, you must follow the steps listed below.
- From your Dashboard, select the Loan tab.
- Locate the active loan section.
- Make sure you press”Make Payment.” Press the “Make Payment” button
- Enter the amount you wish to pay right now.
- Select the payment method that you prefer.
- Click on the “Make payment” button
- Continue to complete your loan payment
Umba Mobile customer care and email address
Umba Finance Services offer customer service representatives you can reach should you have a problem or concern.
Contact the Umba Mobile loan service from 8 AM until 5 PM from Monday to Friday.
Main Website: umba.com
Email Address: