United Bank for Africa (UBA) Plc has launched the new UBA Naira Credit Card to ease customers’ accessibility to funds and by extension improve the standard of living.
The development is in congruent with the bank’s commitment to the welfare of Nigerians while addressing the gap in wealth creation in the country.
Speaking, UBA’s Group Head, Digital Banking, Sampson Aneke, said the product is aimed at creating wealth, easing living conditions and meeting the needs of its customers all over the world.
According to him: “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 with only about two per cent of the population 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.”
He explained that the UBA Credit card is available as Visa Gold card with a limit of between N75,000 and N1million and Visa Platinum card with a limit of between N1,000,001 and N3,000,000 and 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 per cent repayment is made on the repayment due date and customers are entitled to 30 per cent (annualised) of their salary as credit card limit subject to the Debt Service Ratio (DSR). The 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 cardholders’ registered email address,” Aneke said.