United Bank for Africa Plc has introduced a new Naira credit card that is expected to give its customers easier access to funds and improve their standard of living.
Customers will be able to access up to Three Million Naira credit and pay as low as 10% of their monthly outstanding for using the card.
Apart from enjoying access to funds, customers are also to expect flexible repayment plans.
With the new UBA Naira Credit Card, customers whose salary accounts have been domiciled with the bank for a minimum of three months and are employees of corporates under UBA’s approved counterparty list with minimum net monthly income of N250,000 are promised stress-free business and personal lifestyle.
Also, customers between the ages of 18 and 57 years who apply for the credit card can access funds with a revolving line of credit and up to 45 days interest free credit, flexible repayment options, as well as amazing discounts at select merchant locations including restaurants and boutiques.
The UBA credit card also allows ATM withdrawals in Nigeria or abroad wherever the Visa logo is displayed, while allowing ease of payment for goods and services locally and internationally on POS/WEB terminals displaying the same Visa logo.
Explaining the features of the new card, UBA’s Group Head, Digital Banking, Sampson Aneke, said that as a bank that is interested in the welfare of Nigerians, the bank is always in the forefront of developing products and services aimed at creating wealth, easing living conditions and meeting the needs of its customers all over the world.
He said, “At UBA, we recognise that access to credit is fundamental to the creation of wealth and value in the economy. Unfortunately, the country has been challenged in this regard with only about 2% of the population presently having access to bank loans. It is in addressing these developmental and household challenges that the bank has in recent times developed and introduced a number of unique lending products to the market, with the latest being the innovative UBA credit card.”
Aneke listed more of the card’s features and the benefits that the banks’ customers would enjoy from the credit card, as follows:
- The UBA Credit card is currently available as Visa Gold card with a card limit of between N75,000 to N1,000,000 and Visa Platinum card with a limit of between N1,000,001 to N3,000,000.
- The card can be used locally and internationally at any ATM or POS outlet which has the Visa logo, WEB (online), and POS terminals.
- There is an interest free period of 45 days on POS/Web transactions provided 100% repayment is made on the repayment due date and customers are entitled to 30% (annualized) of their monthly salary as credit card limit subject to the existing Debt Service Ratio (DSR).
- The monthly repayment cycle will run from the 15th of every month to the 15th of the next month.
- The credit card statement showing details of transactions within the period and the amount due for repayment will be sent to the cardholders’ registered email address.
To get the UBA Credit Card, customers can walk into any UBA branch or visit the bank’s website at www.ubagroup.com to download the credit card application form, fill it out and submit it to the Customer Service Officer at any UBA branch in Nigeria.
