Umba Loan App is one of the most trusted financial service suppliers across Nigeria in addition to Kenya. In this article you will find out how to obtain the loan offered by Umba Mobile in Nigeria.
We will also glance at financial options that are available through Umba Loan App.
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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 operates 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 extremely responsive. Umba Loan App is also extremely responsive, which enhances its effectiveness. You can connect your utility accounts into the app, and then finance the utility bill! Pay for electricity, water internet, water, and more.
Mobile finance is available through Umba Loan App
1. Money Transfer
Yes. You can transfer money to family members or 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 to 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 as well as the bank account number of person you wish to transfer money to.
If you’re as a Nigerian You can connect the accounts of your utilities 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. “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
3. Personal loans for instant.
You can get an amount of loan ranging from N2,000 and N30,000 through Umba Loan App.
At present, loans aren’t offered to Kenyan users. On the other hand Nigerians can get loans via the app so provided they meet the conditions.
Umba Loan App requirements
If you’re an Nigerian and are 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 identification of your name and prove your age.
Bank Verification Number BVN is used to verify your bank details and ensure that you’re not banned by loan companies or other lenders.
It is possible to run your Umba Mobile app directly from the Google Play Store. 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 installed the app, then 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 to 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
The loan application you submit will be scrutinized by the Umba Mobile staff. Please note that you cannot determine the repayment terms via Umba Mobile. All loans are automatically repaid with a period that is 62 calendar days.
What amount of loan can you obtain?
You can apply for an minimum loan of N2,000 and a maximum amount of N30,000 through the mobile Umba App.
Tenor of loan repayment
As with other instant loan companies within Nigeria, Umba Mobile is not flexible in the payment of loans.
If you’re interested whether you like it or not, the fact is that you must to pay back your loan by the day 62. That’s right. Umba loan service gives its customers an time frame of repayment of 2 months.
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.