This post is all about first credit loan, code, app and apk download with interest rates and best way to apply with the requirement.
First Credit Loan is a product designed to provide you with a quick and simple loan 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.
Table of Contents
Benefits Of First Credit Loan
- Easy and convenient access to loans to meet needs.
- Quick loan request and disbursal
- No physical documentation is required
- No collateral required
- No hidden fees
First Credit Loan Eligibility
- The customer’s account must have been operational in FirstBank for at least 6 months.
- The customer must be linked to a valid BVN.
- Customers must have correctly updated phone numbers
- Customers must have a 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: 10% flat
- Insurance: 1% 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 on loan disbursal
- Insurance fee is also taken upfront on loan disbursal
First Credit Loan Application Procedures
- Dial *894#
- Select Loans
- Select FirstCredit
- Select Get a new loan
- Select the account number with which you want to apply for the loan
- Grant data usage consent and accept terms and conditions
- You are presented with 4 loan amount options
- Choose your desired loan amount
- The loan is disbursed into your account
First Credit Loan Code
To apply using USSD code just dail *894#