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First Bank of Nigeria
Access loans up to ₦300,000 in minutes, no collateral needed. Enjoy 8% interest rate, 30-day flexible terms, and fast disbursal straight to your account.
FirstCredit from First Bank of Nigeria is a digital lending platform that aims to make getting a loan incredibly fast and simple. With interest rates set at 8% flat and a quick loan term of up to 30 days, it’s geared toward individuals needing instant funds. No paperwork or collateral is required. The loan amount ranges from ₦1,000 to ₦300,000, and eligible customers can apply directly from their mobile phones.
How to Apply for FirstCredit
- Dial *894# on your mobile device.
- Select the Loans option.
- Choose FirstCredit as your preferred product.
- Select your account number and grant usage consent.
- Pick your desired loan amount and confirm with your USSD PIN.
Pros of FirstCredit
One major highlight is the speed of getting funds; users receive their approved loan instantly in their accounts upon completion. Also, there’s no need to visit any bank branch.
Another benefit is the absence of paperwork and collateral. All you need is a valid account with First Bank and an active USSD-enabled phone number.
Cons of FirstCredit
The main downside is the short loan tenor—maximum 30 days—which may not be suitable for everyone. Borrowers must repay quickly.
Additionally, there’s an upfront insurance charge of 5%, and higher penalties apply if payment is late. Only customers with active First Bank accounts can apply.
Final Verdict
FirstCredit is a practical solution for quick financial needs and emergencies in Nigeria. The straightforward process and instant access are definite pros. However, only consider it if you can handle a short repayment cycle and the added insurance fee.
