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Insurance Premium Financing
Are your insurance premiums weighing you down?
With our Insurance Premium Financing offer, we make it easy for you to
protect everything you hold dear.
We will pay to insure your assets against loss and you can repay conveniently over a year.
We will pay to insure your assets against loss and you can repay conveniently over a year.
Product Features & benefits
- Convenient repayment period of 12 months
- Attractive interest rate (the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan)
- Maximum loan amount of N5million for registered businesses and N1million for individuals
- Minimum loan amount of N50,000
- Minimum equity contribution of 2 months’ Instalments
Eligibility Criteria
For individuals:
- Functional account
- Duly completed loan application form
- Evidence of ownership of asset to be financed
For SMEs and Corporate Organizations:
- Functional business account
- Duly completed loan application form
- Board Resolution
- Company and Director(s) Information
- List of Asset(s) to be financed
How to apply
- Visit any of the participating insurance bodies to obtain an invoice for premium payment
- Then, visit a UBA branch to complete a loan application form and also submit required documents.
- Fund your account with equity contribution of 2 months’ instalments.
- The loan will then be credited into your account and moved to the insurance’s account along with the equity contribution.
- Insurance company will send proof of payment to you.
Who is it for?
Individuals
Small and Medium Enterprises (SMEs)
Corporate Organizations
Participating insurance companies
NSIA
Leadway Pension Insurance
Frequently Asked Questions (FAQs)
Here is everything you need to know about the UBA Insurance Premium Financing
A loan to part-finance a premium paid for insurance policy
Insurance Premium Financing covers the following: Comprehensive Vehicle Insurance Fire Insurance on Asset Burglary Insurance on Asset Comprehensive Insurance on Property
You can apply on our loan application portal or visit the nearest branch
N5,000,000
Yes, you can, you must however have an account with UBA
Your average return in six months will be used to calculate your eligibility amount
Policy will be terminated by insurance company
• Comprehensive Vehicle Insurance
• Fire Insurance on Asset
• Burglary Insurance on Asset
• Comprehensive Insurance on Property
12 months
Yes, you can have your account funded and visit the nearest branch for loan liquidation
2 months’ insurance premium instalment