By Cynthia Alo
Nigerians can now meet emergency financial obligations, pay children’s school fees and rent by accessing FastCash loans of up to N200,000.
FastCash is a collateral-free, convenient, easy-to-access instant loan solution powered by First City Monument Bank (FCMB).
A statement from the bank said getting a FastCash loan requires no collateral or paperwork.
“It is available and accessible to salaried and non-salaried customers of FCMB through its mobile app and USSD platform, the statement said, adding, “it takes less than five minutes to complete the application process, and the loan is disbursed instantly.
According to the bank, beneficiaries can spread the loan repayment for up to three months.
So far, over 2.7 million loans have been disbursed via the FastCash platform since it was launched in 2018.
Commenting on the offer, Mr Shamsideen Fashola, Divisional Head of Personal Banking at FCMB, stated, “We introduced FastCash as a collateral-free loan to give Nigerians with urgent and unexpected needs access to funds within minutes when it matters most. FastCash loans close the access to finance gap for many Nigerians, ensuring the well-being of their household”.
In addition to FastCash, FCMB offers Salary-Plus-Loan to salary account holders. It allows qualified customers to access short or medium-term funding before salary payment if they have to meet urgent needs.