Firstbank loan makes it very convenient for its customers to get an instant loan to solve a financial problem in a matter of minutes, lets say 5 minutes or even less.
In this article,i will teach you How to get Firstbank quick loan in Nigeria in some minutes.
Are you a Firstbank client pushed on how to induce moment advance (loan)?. You ran out of reserves, an crisis or another reason? And require money instantly? Then no worries, Firstbank quick loan can allow you a straightforward, clear advance in less than some minutes right away.
In this article, I’ll show you how get a quick loan from firstbank. The method is simple, with no push, all you would like is your portable phone.
There are two main ways to do that:
Firstbank Mobile app
Below I’ll outline a detailed information on the two best loan offers and how to go on to apply any of them;
There will be a risk – based interest rate of 10% per disbursal which will be taken upfront which translates to annual percentage rate of 120%. There shall not be any refund on interest rate collected upfront for any prepayment, pre-termination of the loan before a 30-day period or for any other reason. If the Borrower fails to pay any amount which the Borrower owes the Bank in terms of this agreement on the due date, the Bank shall be entitled to continue to charge interest on the outstanding amount at 0.3% per day.
How to Apply?
Select get new loan
Select the account number with which you want to apply for the loan
Grant data usage consent and accept terms and conditions
FirstAdvance is a digital lending solution designed to offer convenient and easy access to cash for payroll customers awaiting payment of their salaries.
The product is meant for salary earners whose accounts are domiciled with FirstBank and have received regular salaries in the last six months or more. Maximum amount accessible is N500,000.00 subject to 50% of net average three months salary, whichever is lower. The eligible amount is calculated after deducting all other loan obligations to the Bank. This product can be accessed via our digital channels: FirstMobile and USSD.
Salary account must be domiciled with FirstBank
Loan amount of up to 50% of net monthly income.
Tenor is 30 days or next pay day [whichever comes first]
Maximum single obligor limit of N500,000.00
Interest rate @ 2.5%flat collected upfront
Management fee @ 1.0% flat
Credit Life Insurance @ 0.50%
FirstAdvance is an enhanced and improved version of Digital SODA.
The loan can be accessed up to three times a day subject to maximum eligible amount
The Risk Acceptance Criteria for FirstAdvance is automated.
Repayment is taken immediately salary is received, while a lien is placed on unfunded account.
All fees, including Interest rate are collected upfront upon disbursement of the loan.