FCMB Offers N200,000 School Fees, Emergency Loans To Customers

Customers and potential customers of First City Monument Bank (FCMB) can now access a higher loan up to N200,000 through the bank’s quick loan product, known as FastCash.

This, it said, was in a bid to help Nigerians deal with financial challenges and meet urgent needs without hassles.

The loan product equally has additional benefit to spread the loan repayment for up to three months, meaning that, customers can now pay back lower amounts each month while accessing higher borrowings than before.

FastCash, the bank said, is a personal instant loan product that is convenient, paperless, and available to existing customers and non-customers, as it requires no collateral and is open to both salaried and non-salaried customers. FastCash is like other innovative loan products from the bank, such as Salary Plus.

Commenting on the products, the divisional head, Personal Banking of FCMB, Mr Shamsideen Fashola, stated that the bank realised the financial challenges confronting its customers and indeed Nigerians at this critical period, promising to giving them all the support required to overcome.

“We have digitised the application process for many of our loans to make it more convenient for customers to get loans instantly. We expect to significantly impact the lives of our customers and Nigerians at large by giving them the financial support they need when it matters most,” he pointed out.

FCMB explained that the decision to restructure its consumer loan products to be more flexible is in response to the economic challenges caused by the COVID-19 (coronavirus) pandemic, which has affected personal and household incomes and businesses in general.