Umba Microfinance Bank: Apps,Loans, Contacts Details

Umba started as a mobile loan app some years back in Kenya and then moved to Nigeria. Today Umba is a Microfinance Bank (MFB).
Umba logo
Umba MFB Logo

What is Umba Microfinance Bank

Umba is a registered digital microfinance bank in Kenya and Nigeria.

In Kenya,Umba is regulated by Central Bank of Kenya (CBK) while in Nigeria it is regulated by the Central Bank of Nigeria (CBN).

In Nigeria Umba is now rival to digital banks like Kuda, Carbon and Fairmoney.

In Kenya,Umba's biggest rival is Branch microfinance bank.

Umba Microfinance Bank Loans 

Now that the lender is registered and regulated by the right regulators, umba is now providing the following loans and other financial services; 
  • Mobile personal loans
  • Business loans
  • Log book loans
  • Cash advances
  • Payroll services
  • Account opening
Umba loan interest rates
Loan interest rate is at competitive rates. This is because,umba is a regulated lender. In this regard,all loan charges are monitored by the CBK in Kenya or CBN in Nigeria 

Umba Loan App Download 

Being a digital Bank,umba has apps for both android smartphone users and iPhones (iOS) customers.

You can download umba app for Android from Google play store or umba app for iPhone (iOS) from Apple app store.

How to apply for Umba loans 

If you're looking to get loans from the lender, first download umba app from Google play store or Apple app store and create your account.

The app will let you know how much you qualify for. You can then submit your application and if approved you'll be able to send the money to your M-Pesa or bank account.

How to Increase chances of getting umba loan approved

It can happen that you loan limit is zero. You don't have to worry because you can still make the limit increase.

If you're not blacklisted by the CRB, you can simply increase your umba loan limit by saving some money with Umba.

After a month or so, it is likely that you'll qualify for a certain loan limit.

If you already have taken a loan from umba and want to increase your loan limit,then in addition to saving some money,you should pay your loan on time.

Who is Umba Loan best for?

Umba loan is best for anyone looking to get access to quick money whenever necessary.

It can be for emergency or for business. For example a trader who can get returns before a duration of 30 days collapses can take advantage of this loan facility.

How to pay Umba loans 

Umba loan payment is done from inside the app through three ways;
1. Pay from your M-PESA account
2.Pay from your umba account (saved money)
3.Pay from a bank account

Can Umba list you with CRB

Yes. Umba can blacklist a loan defaulter with the relevant CRB in Kenya or in Nigeria.

It is therefore advisable to take what you can pay back and on time.

Umba microfinance bank customer care contacts

Contacts for Kenya 

0746 555 222

Contacts for Nigeria

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