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What Is UMBA?
Umba makes it easy for people in Kenya and Nigeria to Access a loan, anytime, anywhere. Complete their application in seconds and receive your loan straight into your mobile money account. Umba is like a bank in your pocket, there for you at all times.
How To Open An UMBA Account
Opening an Umba account is free, and easy.
Download Umba on Google Play (for Android), coming soon on the App Store and follow the prompts on your phone. It will take a few minutes at most.
If you’re wondering what you need to open an Umba account, find the steps outlined below:
Please remember that a selfie-check will be required when using the referrals feature so that we can verify your identity.
After all the conditions of the referral are met, you will receive your referral bonus automatically to your Umba wallet.
Please allow 7 days for this bonus to be added to your Umba wallet.
How To Borrow Loan From UMBA
What is Umba Mobile Loan?
Umba Mobile Loan is the loan type that allows topping up the Umba wallet, and pay your bills inside the app or withdraw money to your bank account
How much can I borrow?
Umba loan sizes range from 1115 Naira to 89182 Naira. If you repay loans as scheduled, the amount that you borrow increases, to view the loan ladder follow these steps; go to the Umba app and click on “loan” icon and select “Apply For Loan” to choose the loan type which is “Mobile Money Loan.”
Click on the field with our first loan level which is 1115 Naira, this will give you a drop-down list indicating the amount you qualify for.
What happens if I overpay my loan?
In the case of an over-payment, there will be no need to request a refund because the over payment will be redirected into your Umba wallet. To check or view the amount in your Umba wallet from the home page tap on the ‘Account’ icon at the bottom of your screen, then select Umba wallet. Also, you can view your balance at the top, click the “eye” icon to reveal your balance.
Will my loan size increase every time I repay?
Your loan offers are automatically determined by a number of factors. The loan will increase over time as you continue to make all of your repayments as scheduled. You can now see the progress of your Umba loan Limit in-app! Watch your credit limit grow when you repay on time.
Log into your Umba app, click on the “Accounts” icon, then click on “Credit Limit”
How To Fund My UMBA Account
Adding Money via Your Umba Account Number
To add or receive money via your Umba bank account, you need to share your virtual account number.
To get your virtual account number, go to your Umba Wallet.
On this page you can see your Virtual Account Number and share your account details. Then you can initiate a transfer with from any bank into your Umba Account.
Adding Money By Card
You can add money to your Umba account easily by linking your card. If you have an account with another bank, all you have to do is add that card to your Umba account and you can fund it anytime you want.
Currently they support these cards:
To add money to your account:
1. Log into your account
2. Click “Deposit” on your dashboard
3. Type in the amount you want to add
4. Tap “Add Card”
5. Fill in your card details
6. Follow the prompts
7. Confirm your OTP
You have successfully funded your Umba account!
Remember you can link more than one card to your account.
How to withdraw my loan/funds
A. Click on the Withdraw button on the Main screen.
B. Enter the amount to withdraw
C. Select added bank account to make withdrawal. Or add one in case you have not done so already
D. Click on the Proceed to withdrawal button
E. Wait for the transaction to be processed. You can check the status on the Main screen
How Do I Protect My Umba Account?
Fraudsters are constantly looking for ways to extort money from customers.
This is usually possible when they have access to some of your personal details. Umba will never call, email, or text you to ask for personal information or passwords.
Here are a few additional security tips:
1.Never share your personal information, including your BVN, Account Number, Password, or address with strangers or on unsecure websites
2.Never disclose your mobile app activation code to anyone over the phone, via SMS, email, or in person.
3.Do not perform sensitive financial transactions using public wifi or networks you do not know the source.
4.Enable push notifications on the Umba app so you’ll immediately be alerted of suspicious activity.
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