About First Bank FirstCredit

"First Credit is a digital lending solution designed to offer you quick and simple loans to fund your transactions. Loans can be accessed from anywhere without visiting the Bank. No documentation or collateral is required all the customer need is a mobile phone or tablet." "Customer’s account must have been operational in FirstBank for at least 6 months. Customer must be linked to a valid BVN. Customers must have correctly updated phone numbers Customer must have positive credit record with Credit Bureaus. Minimum Loan Amount: N1,000 (One Thousand Naira) Maximum Loan Amount: N300,000 (Three Hundred Thousand Naira) Loan Tenor: Maximum of 30 days Interest Rate: 8% flat Insurance: 5% per transaction A penal charge of 1% monthly and daily interest of 0.3% applies upon default Interest on disbursed amount will be taken upfront on loan disbursal Insurance fee is also taken upfront on loan disbursal"

Requirements for loan

• Signed post-dated cheques
• Bank Verification Number (BVN)
• Three (3) months stamped statement of account
• Utility bill (within the preceding 3 months)
• Valid ID – Driver’s ID, National ID or International passport.
• Two Individual external guarantors with proper means of identification such as BVN, four (4) passport photographs, Identity Cards and Letter of Intent to guarantee the loan.

States Covered