uBank

Teba Cash Financial Services, now known as uBank, was founded in 1975.

uBank was established to serve the mining community and their families by offering basic financial services.

From savings funds to a commercial bank

uBank’s basic services included the payment of funds to families situated in rural areas by using a linked account facility. With the establishment of the Godsell Motlatsi Commission in the 1990s, uBank transformed from a savings fund to a commercial bank.

A banking license was granted to the, then, Teba Bank in June of 2000. The bank however remained a trust at the time and was managed by trustees. The bank’s customers were the beneficiaries of the trust.

From humble beginnings to great achievements

2007 saw uBank adopt a new strategy, vision, and mission, paired with new values. This was the groundwork that saw uBank ultimately become the Worker’s Bank of Choice.

October of 2010 would mark the date of launch to the public and the name change, introducing the new and improved uBank.

The uBank promise to you

The promise uBank has made to its customers is a simple one. It’s a promise to better the lives of its customers by striving for the following:

• To partner with communities
• Empowerment and education for the achievement of financial success
• To look after relationships built on listening, work, and communication
• Incorporating the concept of Ubuntu

uBank is 100% committed to its clients with more than 40 years of experience in the industry. It’s proudly 100% black owned.

Invested in the community

uBank has a strong desire to improve the quality of life of the communities they operate in. They aim to achieve this by investing in sustainable solutions like education and development programs.

uBank prides itself on delivering outstanding customer service. Their products are up-to-date and innovative and bring convenience. Offering a wide range of services and products, uBank is a one-stop shop for all your financial needs.

A tailored personal loan

uBank offers a personal loan that’s as unique as you are. This loan option allows you to customise aspects thereof to suit your needs.

The personal loan amount depends on your borrowing power established by your credit score and affordability. Interest rates are variable and linked to the prime rate.

The total loan amount to be repaid will consist of a once-off initiation fee, a monthly service fee, a credit life assurance fee, and the interest charged.

The uBank loan calculator

The uBank loan calculator puts the power in your hands. Use the sliders to indicate the desired loan amount and repayment term. You’ll be presented with an estimate of what you can expect to repay and a breakdown of the fees involved.

Using the loan calculator will allow you to manage your money better and gives you an indication of what you can borrow.

Get covered with credit life assurance

The credit life assurance plan gives you peace of mind. When faced with unforeseen circumstances, being covered is beneficial.

Should you pass away, become disabled or suffer a loss of income due to retrenchment, the credit life assurance plan will cover your outstanding loan and lighten the financial burden.

The credit life assurance plan is underwritten by Hollard. In the event of a temporary loss of income, Hollard will pay your loan instalments to uBank for a maximum of 12 months.

Everyone needs a funeral policy

Working in collaboration with Hollard, uBank offers you a funeral plan with the following benefits:

• Family benefit
• Premium waiver
• Accident benefit
• Memorial benefit
• Monthly provider benefit