Are you looking for a reliable financial partner that can provide you with the necessary funds to achieve your goals? First Bank Loan offers you the opportunity to access loans of up to 2 million nairas or more, with flexible repayment plans and competitive interest rates. Despite the financial challenges that many individuals and businesses face, First Bank Loan provides a simple and efficient way to access funds without stress.
Acquiring a loan can be a daunting task for many people, especially with strict credit requirements and lengthy approval processes. However, First Bank Loan offers a seamless experience to its customers. With a user-friendly online application process, you can apply for a loan from the comfort of your home or office, and receive funds within a short period. Moreover, the bank’s customer service team is always available to assist you throughout the process, ensuring that you have a smooth and stress-free experience.
At First Bank Loan, customer satisfaction is paramount, and the bank is committed to ensuring that its clients receive the best service possible. Whether you’re a business owner or an individual seeking financial assistance, First Bank Loan offers a reliable and efficient solution to your financial needs. With flexible repayment plans and competitive interest rates, you can rest assured that you’re getting the best deal possible. Apply for a loan today and take the first step towards achieving your financial goals with First Bank Loan.
FirstCredit
In order to be eligible for a loan from FirstCredit, the customer must meet the following requirements:
- The customer’s account must have been active with FirstBank for at least 6 months.
- The customer must be linked to a valid Bank Verification Number (BVN).
- The customer must have provided a correctly updated phone number.
- The customer must have a positive credit record with Credit Bureaus.
- The minimum loan amount is N1,000 (One Thousand Naira).
- The maximum loan amount is N300,000 (Three Hundred Thousand Naira).
- The loan tenor cannot exceed 30 days.
- The interest rate is 8% flat.
- There is an insurance fee of 5% per transaction.
- A penal charge of 1% monthly and daily interest of 0.3% applies upon default.
- Interest on the disbursed amount will be taken upfront at loan disbursal.
- The insurance fee is also taken upfront at loan disbursal.
Personal Home Loans
The Personal Home Loans product is designed to help employees acquire and own residential properties with ease. The product is also available for couples as a Joint Mortgage.
To be eligible for this loan, applicants must be individuals in paid employment, and the maximum loan tenure is 20 years, subject to retirement age. The documentation process is simplified, and a minimum equity contribution of 20% is required. Competitive interest rates are available to borrowers who meet the eligibility criteria. The property to be financed must be residential and located in First Bank approved areas, and must not be used for commercial purposes. Additionally, the borrower’s salary account must be held with FirstBank for the duration of the loan facility.
To apply for the Personal Home Loan, applicants need to provide the following documentation: Vendor’s offer letter, a copy of the title documents to the property (ownership must be in the name of the vendor), a copy of the approved building plan, and a Personal Home Loan Application form. Additionally, applicants must provide a letter for the irrevocable domiciliation of salary for the duration of the facility.
Joint Mortgage
The Joint Mortgage loan offered by FirstBank is designed to assist legitimate couples in purchasing a property that either party may not have been able to acquire individually. This loan product is flexible and aims to reduce repayment pressure, as the repayment capacity is shared by both applicants.
To be eligible for this loan, both applicants must be financially committed and joint owners of the property. The loan amount available can be up to N70 million, with a maximum tenor of 240 months (20 years), subject to retirement age. A minimum equity contribution of 20-30% is required, depending on the property’s location.
Applicants need to provide certain documentation, including a Vendor’s offer letter, a copy of the title documents to the property (with ownership in the vendor’s name), a copy of the approved building plan, and a Personal Home Loan Application form. Additionally, applicants must provide a letter for the irrevocable domiciliation of salary for the duration of the facility.
Automobile Loans
The Auto Loan product offered by FirstBank provides employees with the opportunity to purchase brand new vehicles from reputable vendors, with a flexible repayment plan over a period of up to 48 months (four years).
The maximum loan amount obtainable under this product is N20 million, with a 30% equity contribution required based on the invoice value. Finance is only available for brand new vehicles, and the loan is open to salaried individuals whose salaries are domiciled in First Bank or who want to move their salary account to First Bank.
The Auto Loan product offers a flexible repayment structure with highly competitive interest rates, and access to a wide range of vehicle brands and models.
To apply for the Auto Loan, applicants need to provide an Auto Loan application form, a Proforma Invoice, and a valid copy of acceptable identification such as a Driver’s license, International Passport, or National Identity card. In addition, applicants must provide a letter of irrevocable domiciliation of salary for the duration of the facility.