UBA Benin review

The savings account pays a variable rate of 3.5%. Because the rate type is variable, the figure can change as market conditions move. Interest is credited annually rather than monthly or daily.

No. The minimum deposit on the savings account is XOF 0, so the account opens without a deposit balance tied up. You can fund it as your income arrives and still withdraw whatever you need on demand.

Withdrawals are on demand with no notice needed, and there is no cap on how many you make. That makes this an easy-access account, so savings stay liquid rather than being locked for a term. Interest is paid annually on the balance.

UBA Benin is a bank in Benin, licensed and supervised by the Banque Centrale des Etats de l'Afrique de l'Ouest (BCEAO) under licence B0067M. The bank is also covered by a deposit guarantee scheme, but check the published limit before you rely on it.

Yes, UBA Benin is a direct lender rather than a broker, so the loan comes straight from the bank. It offers personal, secured, car, student and business loans on terms of 60 to 84 and borrowing of XOF 100,000 to XOF 30,000,000. Interest costs 10% to 11%.

There is an origination charge of 1% on the loan, plus an arrangement fee that is lower for shorter terms and higher for terms over a longer period. Ask the branch for the fee in writing before you sign, alongside the 10% to 11% borrowing rate.

Lending is aimed at people drawing a salary or a pension from a company the bank works with, so anyone paid elsewhere may not qualify. The savings side carries no minimum deposit at XOF 0 and the balance stays available on demand.

Support is available through help centre, phone and email, covering a help centre, phone, email and chat. With several channels open, a question about a withdrawal or a loan charge can be raised in whichever way suits you. There is a branch network in Benin as well.