Everyone has dreams and objectives in life that they want to achieve. Many people abandon or postpone their dreams just because they don’t have enough money. But not anymore. If you have a specific dream or objective in your life and you have ditched or put it back just because of money, there is good news waiting for you. Now you can achieve your dream because Ubank Personal Loan is giving you the opportunity to raise your finance. 

Forget to say “ No “ to anything that makes you happy. Change your framework and achieve everything that you once wanted. If you have an excellent strategy to maintain your finances, a personal loan will not be a burden but a solution to get your dreams. Ubank is one of the most popular South Africa personal loan lenders that offer flexible unsecured loans with easy repayment options.

Features of Ubank Personal Loan 

Their personal loans range from R 2,000 to R 180,000 with a maximum loan term of 72 months. Their interest rate usually ranges from 5.0% to 27.50% plus service fee. It is important to note that they charge fees when you take a loan from Ubank. These fees usually include an Initiation fee, administration fee, and credit insurance fee in the event you’re unable to take responsibility for the loan. Their initiation fee includes 16.50% of the first R1,000 plus 10% for every thousand after that. Plus, it also includes R1,207.50 inclusive of VAT. Their monthly service fee is R69.00, including VAT. Since their loans are unsecured, thus you don’t need to provide any guarantee or collateral. 


Applying for the loan is far easy and straightforward as the whole process works online. They don’t have any hard or fast requirements. Applicants must be over 18, have a bank account, have a job, and earn enough money to make payments. They also need to provide the latest original payslip, proof of identity, proof of physical address, and bank statements for the previous three months during the application process. The acceptable identity proof includes the South African Identity Book containing a green bar-code, a valid passport with a valid work permit, or a smart card ID. These requirements are not different from other banks. Once approved, the funds will get transferred to your account within a few minutes. 

A representative example: Suppose you want to borrow an amount of R 100,000 with a repayment term of 72 months, your interest rate will be 20.5%. You have to pay a monthly install of R 2,2523. Your total re[aybel amount will be R 181,656. 

You can calculate the estimated APR and repayable amount on the calculator provided on the site. Once you get the estimation for the desired amount, you need to ask yourself if you have the resources to pay off the debt in the long term. If you have the ability to pay off the debt without taking any risk, then go ahead.