FirstBank FirstCredit
Up to ₦300,000 instant loan, 8% flat interest rate for 30 days. No collateral. Easy mobile application—get funds quickly right into your FirstBank account.
FirstCredit by FirstBank Nigeria provides a straightforward, digital lending solution for those who need quick access to funds without the regular banking hurdles. Borrowers can access up to ₦300,000 in minutes, with a flat interest rate of 8% and a 5% insurance charge, all repayable within 30 days. This offer is available without any collateral or paperwork, as long as you have a FirstBank account operational for at least six months and a positive credit history.
How to Apply: Step-by-Step Process
Simply dial *894# using the mobile number registered with your FirstBank account. Once you follow the prompts to the loans section, select FirstCredit, choose your account, give the required consent, and pick your desired loan amount. Enter your USSD PIN, and you should receive your funds instantly into your FirstBank account. The process is designed to be fast and user-friendly, with no need to visit a branch or fill out lengthy forms.
Main Benefits
FirstCredit has several advantages, especially for those seeking swift access to cash. The loan is disbursed almost immediately after approval, which is perfect for emergencies. There’s also no need for collateral or physical documentation, making it accessible to a broad range of account holders.
Potential Drawbacks
While FirstCredit is convenient, it comes with a relatively short loan tenure—just 30 days. The upfront deduction of the interest and insurance fee, along with a penal charge for defaults, may add up if you run into repayment issues. Additionally, users who don’t have a strong account activity or a positive credit record may not qualify.
Our Verdict
FirstCredit by FirstBank is a solid option for those in Nigeria looking for a quick, short-term loan directly into their current or savings account. It balances speed and convenience with reasonable checks, but the 30-day tenor and strict eligibility requirements mean it is best suited to individuals with predictable cashflow and existing FirstBank relationships.