FirstCredit from First Bank of Nigeria is designed for users seeking instant cash without lengthy processes. With loan amounts up to ₦300,000, flat 8% interest, and a 30-day term, it caters to urgent needs. No collateral or paperwork is needed. You only need a FirstBank account, a phone, valid BVN, and a positive credit record.

How to Apply for FirstCredit

Applying for FirstCredit is direct and can be done with any mobile phone. Start by dialing *894# or log in to the FirstMobile app. Navigate to the loan section and select FirstCredit, choose your account, accept the data consent, pick a loan amount, and confirm with your 5-digit PIN. Funds are disbursed instantly.

Pros of FirstCredit Loan

The biggest advantage is speedy disbursal—money lands in your account within minutes of approval. Application is 100% digital, and there’s no need for collateral or physical paperwork. Plus, loan approval is based on your banking history with FirstBank, making it accessible for active account holders.

Cons of FirstCredit Loan

The maximum loan tenor is just 30 days, so you must repay relatively quickly. Also, the flat 8% interest (96% per annum if annualized) may be high for longer-term borrowing compared to traditional loans. Insurance and default fees add to total costs.

Our Verdict

If you need quick cash for urgent expenses and already bank with FirstBank, FirstCredit is a solid short-term option. However, consider the short repayment window and make sure you’re comfortable with the cost structure before proceeding.