What are Unifi Loans? How to get?
Majority of the people look for a reliable loan provider that can process the loan application within a day and transfer the amount of the loan without wasting time on the paperwork. The problem with such online loan providers is that they are not reliable because most of them are after the banking details of the applicants. Some online financial services providers increase the interest rate after a borrower gets the loan.
To prevent such scams and get a loan from a reliable source, you need to apply at Unifi. The reason why Unifi is reliable is because it is connected with various recognized banks in South Africa as well as it operates under the rules and regulations established by the South African government. Instead of applying at any other nefarious platform that can sell the data of applicants, you can apply at Unifi with the help of my guide.
What Type of Institute Unifi is?
Majority of the people neglect the importance of repetition of an institute before they apply for its services. The problem occurs when we apply for a loan at unregistered sources that offer loans at low interest rates but over time, they increase the rate of interest and take more money from the borrower. However, Unifi is a reliable financial services provider that is spread across all of Africa.
Unifi offers services in four major African countries, including South Africa, Uganda, Zambia, and Kenya. Furthermore, the total number of branches is 70 as well as it has a staff of 800 people. Unifi ensures all the compliance rules and regulations and is considered a highly trustworthy source of loans.
Unifi offers long and short-term loans, you can apply for a short-term loan on the website of Unifi but you need to visit the branch for a long-term loan. The interest rate of Unifi is less than the other loan providers because of its diverse range of customers. Both business persons and the lower middle class can enroll in the loan programs offered by Unifi. Here are the loan programs offered by Unifi, the eligibility criteria of the loan programs as well as application process.
Types of Loan Programs Offered by Unifi
- Short-term loan program
- Long-term loan program
1. Short-term Loan Program
Unifi offers unsecured loans, which means an applicant does not need to show any assets in order to ensure the financial services provider that he is able to repay the loan. The term of the loan is determined by the intended borrower. One can use the amount of the loan for various purposes, such as to pay immediate medical bills, university fees or to buy groceries. Additionally, the short-term loan program is for those who are facing cashflow problems due to hindrances in business.
Features
- Loan Amount: The ceiling amount of the loan is R8,000.
- Interest Rate: One needs to pay only a 3% interest rate on the loan.
- Repayment Term: One can customize the repayment term but the limit is 6 months, meaning he needs to repay the loan amount within 6 months.
Eligibility Criteria of the Unifi Loan Program
The eligibility criteria are simpler compared to the other loan providers. The majority of the people apply for loans without checking the eligibility criteria of the program and when their applications are rejected by the financial services providers, they protest against the loan providers. Instead of engaging in time-wasting activities, check if you meet the eligibility criteria before applying for a loan.
- An applicant must be over 20 years old.
- An applicant must be living in countries, including South Africa, Uganda, Kenya, or Zambia.
- An applicant must be formally employed.
- An applicant must have an active bank account.
- An applicant must have a clean loan history.
- An applicant must have an account with the following banks:
For South African Residents
- ABSA
- FNB
- Standard Bank
- Capitec
- Nedbank
- African Bank
Required Documents for Unifi Short-term Loan Program
- You must provide a valid ID or Passport copy.
- You must submit the bank statement for the past few months.
- You must provide the utility bill for proof of residency.
- You need to provide the banking details, including the account number.
How to Apply for a Unifi Short-term Loan Program?
The application process is simple but still, you may find it challenging if you have never applied for a loan program before. One must keep in mind a few considerations which are discussed below. Follow the instructions step by step if you want to get a loan:
- Step 1: Visit the Unifi official website through the link provided below. Unifi Official Website Link: https://unifi.credit/
- Step 2: The Home Page will be visible where you can see various options, including Contact Us and News.
- Step 3: Click on the Countries in the top right and tap on South Africa.
- Step 4: Enter the amount of the loan and then set the repayment term.
- Step 5: You can see the estimated monthly payment in the last section.
- Step 6: Enter the ID number and tap on the Apply button.
- Step 7: Enter the banking details and then provide all the personal information.
- Step 8: Verify the details and then submit the application form.
- Step 9: If you meet the eligibility criteria, you will get a loan payment.
2. Long-Term Loan Program
Another program that is offered by Unifi is the long-term loan that is provided to business persons and people who can afford the long-term repayment. The amount of the loan can be used for a list of purposes, including buying a car, purchasing a property, initiating a business, or investing in an industry. You cannot get a long-term loan online according to the policies of Unifi.
Features
- Repayment term: The repayment term is flexible as one can determine the duration in which he can repay the amount of the loan.
- Interest Rate: The interest rate of the long-term loan program is 9% to 10%
Eligibility Criteria for Unifi Long Term Loan Program
- An applicant must be over 20 years old.
- An applicant must have a permanent and consistent source of income.
- An applicant must have an active bank account.
- An applicant must have a clean loan history.
- An applicant must be a resident of South Africa, Zambia, Kenya, or Uganda.
Required Documents for Unifi Long-Term Program
- You need to provide a valid ID document or passport.
- You need to submit the utility bills for residency proof.
- You need to provide proof of a consistent income source by submitting a bank statement for the past few months.
- You need to give banking details.
- You need to provide the details of employment, including contract duration, salary, and name of the current employer.
Application Process of Unifi Long-Term Loan Program
- Step 1: Visit the official website of Unifi.
- Step 2: Tap on the Countries, select your hometown, and then scroll down.
- Step 3: Click on the Find a Branch.
- Step 4: A list of all the branches will appear with the details.
- Step 5: See the address of the nearest branch and visit there in person.
- Step 6: Address the purpose of your visit to the reception.
- Step 7: Meet the loan officer and address the purpose of the loan.
- Step 8: It is possible that the loan officer will hold a short interview so answer all the questions confidently.
- Step 9: Provide the documents and then fill out the application form.
- Step 10: Attach documents with the application and then submit it.
- Step 11: If you meet the eligibility criteria of a long-term Unifi loan, the amount will be transferred to your account.
Note: The long-term loans are offered to all the other countries including Kenya, Uganda, and Zambia except South Africa.
Considerations
Whether you are applying online or visiting the branch of Unifi, you need to be vigilant. Basically, some scammers can steal the details of an intended browser and then misuse them to financially harm the person. Therefore, you should always use the official website to apply online or you can visit the branch but never trust the third party to get the loan.
Additionally, do not provide the details to anonymous scammers who call on cell phones and use the name of well-known financial services providers, such as Unifi, to steal the information of the people. Before you apply at any financial services provider website, you need to conduct research on the credibility and reputation plus see the interest rate policies. If you are applying at Unifi, you can contact the provided contact details for further assistance.
General Contact
For Zambia:
- Email: [email protected]
- Phone: Tel: +260 414
For South Africa:
- Email: [email protected]
- Phone:Tel: +27 21 110 0600
For Uganda:
- Email: [email protected]
- Phone: Tel: +254 20 5014 065
Final Words
If you are unable to manage the monthly budget or need money to pay the immediate emergency medical treatment bill, you can avail of a loan from Unifi. It is the only reliable source of loans that offers short-term and long-term loan programs for people who are facing cash flow problems. The eligibility criteria, requirements, and the application process are explained above, so you can apply for the loan by following the guidelines.