Umba Loan and Digital Banking App – Apply for Quick Loans in Nigeria

Umba is a digital banking app which provides simple banking services to its customers including Umba loans, bill payments, peer-to-peer payments amongst other services.

The company, which began its operations in Kenya in 2018 says it intends to bring formal banking services to the unbanked population of an estimated 200 million people in sub-Saharan Africa.

Umba currently has operations in Kenya since 2018 and recently in Nigeria after it secured a $2 million seed investment from American investors.

Please do not take this loan to fund your lifestyle or service long-term debts. Short-term loans are helpful in emergencies but can quite expensive when compared to long-term loans and should be used with care.


  • Offers higher loan amounts starting from 10k upto 50k.
  • Has a reputation as it operates in multiple countries..
  • Charges maximum of 10% interest rate monthly.
  • completely online with no collateral required.


  • Has networking issues that prevents smooth registration and binding of ATM cards.
  • takes time to clear dashboard even after repayment.

What other customers are saying about Umba loans

Umba is a general purpose fintech app with multiple features including savings, withdrawals and loan services. On average, most users seem impressed with the app.

Tumi Ajayi wrote, “I initially experienced difficulty (technical issue) in accessing my account for some time but the customer service team was amazing, they handled it exceptionally. They promised and over-delivered yesterday. To be honest, their interest rate is also the lowest I’ve seen so far…you guys rock!!!! Thanks again Umba..”

Gbenga Hakeem wrote, “Using the app for the very first time was weird! Imagining passing all verifications, and still couldn’t do anything. Even, to biometrically secure the account was not possible. Still wondering how an acclaimed best app is not having the utility feature like ‘Settings’. Now the worst part is i’m presently logged out, while option to log in back into my account is not present anymore, unless one would have to sign up again. What a nightmare! So annoying!😡 You guys are not ready.”

Emeka Dioka wrote, “Heard some good reviews about this app but my experience has been anything but frustrating. Tried applying for a loan for a week now, every time I open the app I will be asked to link my bank account and after doing that nothing will happen then the next time I open the app, I will asked to do the same thing all over again. Really frustrating and annoying. I sincerely hope my bank details are safe with all these linking. The loan I haven’t even seen.”

Umba loans in Nigeria

Having successfully navigated the Kenyan market, Umba through its mobile loan app has joined the Nigerian quick loans Fintech market looking to take advantage of the country’s fast growing e-commerce industry.

You can qualify for a Umba quick loan ranging from N1,000 to N90,000 attracting an interest rate of between 1% and 15% per month.

The loan offered is a short-term loan to deal with emergencies such as buying a new phone, paying medical bills or school fees and repayment period is just 28 days. see how loan apps make lending decisions and how to increase your loan amount.

How to get an Umba loan

Umba is a digital bank, meaning all its operations is done via its mobile app.

  • Download the Umba personal Loan App exclusively available on the Google Playstore and install on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
  • Fill in your basic Kwow-your-customer KYC information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N50 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N50 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

How do I apply for a Umba Money Loan?

  • Log in to your Umba account, type in your 4 digit password that you initially registered with.
  • Tap on the icon labeled “Loan”, then click on “Umba Money Loan”
  • Accept permissions, connect your bank and take a selfie check.
  • Accept all permissions, SMS, Phone, Location and the status will change to green
  • Connect your bank and the status will change to green
  • Click on the Verify Identity. Take your selfie photo, wait for the processing to be completed and the ID verification status will change to green.
  • Click on the “Get Started” button. If prompted then add your ATM card. This will allow you to proceed to the Umba Money Loan screen.

a. Select the loan offer amount
b. Select the reason why you need the loan
c. Tap on the Confirm Loan offer button
d. Wait for the loan to be processed
e. Check your Umba wallet for your loan offer!

Umba app interface

How long before I receive my loan from Umba?

Loan time is instant, typically most customers will receive their loans within a day. To check your loan status click on “Loan” a progress report will be displayed.

Where is Umba office in Nigeria?

Umba currently has its headquarters in Kilimani Nairobi, Kenya. There Lagos office will be opened soon.

How do I Repay a Loan in the Umba App?

There are two methods to repay any Umba loans. Click on “Account” select Umba wallet, you will then choose a payment method and click pay.

To repay Umba loan, go to Loan tab (click on Loan icon) and you’ll see your active loan section. Click on Make Payment button. Enter the amount, choose payment method and click Make payment button to proceed with the repayment.


A writer! Columnist and an academic researcher

One Comment

  1. Umba Bank is an African bank that offers combined service both traditional and digital service. Their app is on playstore, you can sign up to the account and get a bonus as well. If you want a loan, this bank will help you out too.
    To learn how to place a loan using umba, registering your account and logging in, and if you are having any issues about the bank or want to make inquiry. Click on the site link to the comment for that

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