Since the introduction of Fintech and digital economy,most Nigeria banks has taken advantage of given out salary in advance and payday loan to assist their various salary earner who’s account is domicile with the bank to bridge the gap when they are financially trap.
Unity bank Nigeria most trusted bank are not left out. hence they offer salary advance backed loans to salary account holders.
The Unity Pays facility is a salary advance that allows salary account holder overdraw their salary by no more than 100% of their net monthly salary payment with tenor not exceeding 12 months
Unity bank retail lending services is the provision of structured financial options to individuals with reliable and regular stream of cash inflows.
Thus, individuals in salaried employment can access a variety of retail lending services that will allow them optimize their finances through bridging the occasional gap between financial obligations and the next payday or various other options that allow qualifying customers take advantage of their steady inflows to access facilities that will be repaid over time.
Unity Bank Loan Products
Unity bank offer variety of loan facilities ranging from Asset Acquisition finance,Salary Advance and Salary Backed Loans.
In our today discussion we shall take a look at their various loan facilities.
1. Unity Bank Salary Backed Loans
This kind of loan facilities is relatively short term in nature which ranging from one week to three months.
Unity bank Salary-backed loans allow qualifying customers to borrow amounts that they will otherwise have to save for up to a maximum of two years.
How to Apply for Unity Bank Salary Backed Loans?
Salary account holder should visit Unity Bank to obtain their loan facilities
2. Unity Bank Salary Advance Loan
This kind of loan facilities help employee who’s salary account domicile with unity bank bridge the occasional gap between financial obligations and the next payday or various other options that allow qualifying customers take advantage of their steady inflows to access facilities that will be repaid over time.
The loan facilities help employee reduce the stress of burden especially when they are trap financial.
How to apply
Interest salary account holder can visit any unity branch nation wide to get their loan facility
3. Unity bank Asset Acquisition finance Loan
This kind of unity bank Asset Acquisition finance Loan help salary account holder who’s account domicile with the bank finance the acquisition of personal and consumer assets ranging from personal electronics to automobiles.
The Bank is also open to assessing acceptable situations for individuals who are not necessarily in regular paid employment
How to apply for unity bank Asset Acquisition finance Loan
Both unity bank salary account holder and non salary account holder domicile in unity bank can visit any of their branch for loan facility application.
4. Unity Bank social lender Loan
This type of unity bank loan is a lending solution based on social reputation on mobile, online and social media platforms. Small cash requests are offered to members of Social Lender communities with a valid bank account. Cash requests are guaranteed based on the user’s Social profile and reputation.
On Social Lender, Access to Micro-credit is based on your Social Reputation in your Social Community. The higher your Social Reputation Score, the higher the loan amount you qualify for. One of the ways to determine your social reputation is through your Friends, Family & Connections on the Social Lender Platform. Social Lender also requires you to have valid Social Lender Friends, Social Referees or Social Guarantors on the platform to be able to get Cash Disbursed.
Please note that Some of the factors that affect Social Reputation Scores and eventually getting a cash request include:
The social information available about the user.
The duration of activity on the social network.
The investigation done by our Social Credit Officer.
Additional Social Collateral submitted by user.
Validation of the Social Guarantors provided by the user.
On a periodic basis, a minimum social reputation score to be eligible for a cash request is published on the Social Lender Platform.
How to Apply for Unity Bank social lending
Interest individual should visit their website through https://unity.sociallenderng.com/
Also you can visit their branch for further assistance.