About FCMB Personal Loan (CASH-BACKED LOAN)

"With an FCMB Cash-Backed loan, you can use your investments as collateral to access a loan at a competitive interest rate. This loan is available to both salaried and self-employed customers with fixed deposits and other liquid investments" "Benefits Available as overdraft and term loan Enjoy an overdraft line if your investment remains with the bank Flexible loan tenor; subject to the maturity date of the investment No insurance charges Unrestricted access to funds when needed, while the customer continues enjoying interest on their investments Interest is charged per month only on the portion of the utilized overdraft Features Collateral coverage is as low as 110% Flexible loan tenor Competitive interest rate Management fee of 1% of the approved overdraft amount"

Requirements for loan

• Utility bill (within the preceding 3 months)
• Bank Verification Number (BVN)
• Signed post-dated cheques
• Three (3) months stamped statement of account
• 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.
• Valid ID – Driver’s ID, National ID or International passport.

States Covered