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How to get loans in FirstBank without collateral

FirstBank FirstCredit 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

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What is FirstCredit?

FirstCredit 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 you need is a mobile phone or tablet.

How do I access FirstCredit

According to FirstBank, you can access FirstCredit by dialing *894# and then follow the below steps:

  • Select 3. Loans
  • Select 1. FirstCredit
  • Select your account number
  • Select 1 to give consent
  • Select your desired loan amount
  • Input your USSD 5-digit PIN

What is the highest or maximum amount you can borrow? You can get up to N300,000.00 depending on your account activities. You have 30 days or less to repay the laon.

The interest rate is 10% flat on the principal amount; a penal charge as defined in the terms and conditions applies on unpaid loans at expiration of the tenor.

Are there other fees? Yes, 1% insurance charges.

To qualify for this loan product you must have been banking with First Bank for at least 6 months.  You must also:

  • Have a valid BVN
  • Not have a bad loan
  • Transact often on your account

Can I use any mobile number to apply for FirstCredit? No.  You must use the mobile number activated for USSD

How can I activate my phone number for USSD?

  • Dial *894*0#
  • Select register for customer
  • Selects ‘Register for 894Banking
  • Selects PAN of active debit card and inputs 4-dgits Card PIN
  • Generates 5-digit USSD PIN
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You account be credited immediately with the loan amount when I apply

You do not have to visit the Bank to apply for FirstCredit. You can apply from anywhere using your mobile devise by dialing *894# and then follow the below steps:

  • Select 3. Loans
  • Select 1. FirstCredit
  • Select your account number
  • Select 1 to give consent
  • Select your desired loan amount
  • Input your USSD 5-digit PIN

To I increase your chances of always accessing the loan, ensure improve activities on your account and always repay outstanding loans promptly. To get higher loan amount , ensure improve activities in your account and always repay outstanding loans promptly

What if I fail to repay my loan? You will be charged a default fee and may also be unable to access more loans.

What if the loan options presented to me are not what I actually want? Take the option closest to your needs.

How do I confirm if I am eligibility for FirstCredit? Call our FirstContact on 07080625000 to confirm

What if I want to repay my loan before it is due for payment? Dial *894# and choose the repay loan option.

Will I be able to take a loan if I have an existing loan? No.  You will have to repay your existing loan to qualify for a new one.

Will I be able to get a loan if I don’t have a smart phone? Yes. You can access FirstCredit with any kind of phone.

Can I apply for the loan from any location? Yes, you can access the loan from anywhere and at anytime using your mobile device

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