UBA( United Bank For Africa) in a statement has explained the introduction of the new Naira credit card for its customers.
The Bank has explained the benefit of the new development stating that customers whose salary accounts have been domiciled for a minimum of 3months and are staff of companies under its approved counterpartt list with a minimum of 250 thousand monthly income are now advantaged for a better lifestyle.
Such customers would be able to access up to N3 million credit with an extreme payment plan which is flexible and for as low as 10% of their monthly due.
The bank also noted that customers btw the age of 18 to 57yrs who apply for this are in for a mouth watering experience as they would enjoy easy access to funds with a revolving line of credit and up to 45 days interest free credit, flexible repayment plan, discounts at other locations like restaurants, boutiques amongst other luxury lifestyle.
Mr Samson Aneke, UBA’s Group Head, Digital Banking said that the bank has the interest of Nigerians at heart
” UBA is always on 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”
“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 two per cent of the population presently having access to bank loans”
“It is in addressing these developments 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.”
He went on to explain the benefits that customers would enjoy as the UBA Credit Card is available in VISA GOLD CARD with a card limit of btw N75,000 to N1,000,000 and VISA PLATINUM CARD with a card limit of btw N1,000,001 to N3,000,000 and can be used both locally and internationally at any ATM or POS outlet.
He said;
” There is an interest free period of 45days on POS/Web transactions provided 100 per cent repayment is made on the repayment due date and customers are entitled to 30 per cent (annualised) of their monthly salary as credit card limit subject to the existing Debt Service Ratio(DSR).
” Their monthly repayment cycle will run from the 15th of every month to the 15th of the next month and the credit card statement showing transactions details within the period and the amount due for repayment will be sent to the card holders’ registered email address”.
