Meet the next generation of banking
With an Umba account, you have everything you need from your bank. Spend, pay bills, get loans, and cashback all from your phone.
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Open your account today and experience next-gen banking
With an Umba account, you have everything you need from your bank. Spend, pay bills, get loans, and cashback all from your phone.
Frequently asked questions
Everything you need to know about the product and billing.
Who is Umba?
Umba is a venture backed digital bank.
What is Umba Business?
Umba Business is a business solution centered around payrolland employee financing.
What are the benefits of using Umba to the employees?
1. Savings account with interest rate
2. Cashback on bills payment
3. Salary allocation settings
4. Salary advance
5. Installment loans and lots more
2. Cashback on bills payment
3. Salary allocation settings
4. Salary advance
5. Installment loans and lots more
How much salary advance can an employee get?
An employee can request up to 50% of their net salary per month.
What is the pricing and duration for installment loans?
Employees can get up to 3x their net pay per month and pay back within 3-9 months
What is the interest rate?
It is 5% interest rate for the salary advance & 5% per month for the installment loans.
What happens if a staff resigns while still making loan repayments?
The lending relationship always resides between Umbaand the lender. If the lender left the business it would be up to the lender to repay the Umba facility through an alternative payment method and schedule agreed by Umba and the lender.
Does the Umba system generate payroll slips?
Yes a pay slip will be automatically generated by the system and sent to the employee.
Do employees have to get paid into the Umba account?
Employees can choose where they want ti get paid whether Umba accounts or non-umba accounts. However, they need Umba accounts to enjoy the benefits available with Umba.
Who can I contact for support?
White Glove service from our Customer Experience team.
A better banking experience
With an Umba account, you have everything you need from your bank.
Spend, pay bills, get loans, and cashback all from your phone
