First City Monument Bank (FCMB) don raise di maximum limit for im FastCash instant loan go reach N500,000. Dis one na to give eligible customers more access to money for emergency and short-term needs.
According to di bank, di facility dey available 24 hours every day through FCMB Mobile App and by dialling *329#11#. Di cool thing na say eligible customers fit apply without collateral, paperwork, or guarantor. Dem no even need to visit any branch.
But make we talk di condition. FCMB say dem dey determine eligibility based on customers’ transaction activity and dia relationship with di bank. You must don maintain an FCMB account for at least three months before dem go consider you for di facility.
For those wey be returning customers, dem fit access repayment period wey reach up to 90 days, depending on individual loan terms. FCMB also keep option for eligible customers wey no don fully utilise dia maximum approved loan amount to request FastCash top-up. But access to additional funds still dey subject to di bank’s eligibility requirements.
Tunji Lamidi, Divisional Head, Personal Banking, FCMB, talk say di higher loan limit show say customers dey demand convenient and responsive access to credit more and more. E say financial needs fit emerge unexpectedly, so e dey important make banks give customers faster ways to access funds through platforms wey dem already dey use.
Dis FastCash upgrade na part of FCMB broader push to make everyday banking and borrowing more accessible through digital platforms. As plenty customers dey turn to mobile banking and digital lenders for emergency funds, di bank decision to raise im FastCash ceiling go give eligible customers more borrowing capacity, while keeping di application process largely digital. And as borrowers dey contend with changing lending costs across Nigeria‘s credit market, di availability, repayment period, and terms of instant loans dey become even more important for people wey need short-term financing.
