Guide ON HOW TO GET A LOAN FROM FIRST BANK

Guide ON HOW TO GET A LOAN FROM FIRST BANK

First Bank Loan Code: How To Apply and Requirements 2022 (UPDATED) »  NGNews247

A Loan is a sum of money that individuals or companies borrow from banks or other financial institutions to financially manage planned or unplanned events. In doing so, the borrower incurs a debt, which he has to pay back at their convenient time with interest and within a given period.

First Bank is a multinational financial institution in Nigeria. It is one of the largest financial service providers in Nigeria that renders convenient services to its customers.

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Obtaining a loan from First Bank of Nigeria is highly recommended because it renders a comprehensive range of financial services that suit your needs. This article is tailored to enlighten you on the various Loan Schemes, Application Procedures, and their Requirements.

 FIRST BANK LOANS

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FIRST BANK PERSONAL HOME LOANS

This loan is designed to help you build and buy your future home or renovate an already built house. Personal Loans: How to payoff Personal Loans fast in 2022

HOW TO APPLY

  • Download the Home Loan App form on the First Bank website.
  • Fill up and submit the form at the nearest First Bank branch.

REQUIREMENTS

  • Application Letter
  • Payment slip for at least three months.
  • Statement of Accounts
  • Applicant’s letter of total solitary
  • Confirmation of applicant’s employer form duly approved by First Bank.
  • Valid titled document
  • Letter for irreversible residence.

FIRST BANK AUTO-LOAN

For those in the expectancy to have their dream automobile, such as a car within a short period, this is the best loan scheme for you. This loan scheme also makes provision of vehicles to businesses to expand their level of productivity or other purposes. But it is restricted to employees still receiving salaries or in whatever means of payment.

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HOW TO APPLY

  • Download the Auto Loan Application Form on the First Bank website.
  • Fill up and submit the form at the nearest First Bank branch.

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REQUIREMENTS

  • Application Letter
  • Proforma Invoice form approved by First Bank vendors
  • Payment slip for at least three months.
  • Statement of account
  • Applicant’s Letter of total solitary.

FIRST BANK SALARY LOANS

This loan scheme is well-packaged and suitable for customers who have a salary account with First Bank, be it Savings, Current, or Credit to help finance and cater to their pressing financial needs before the time of repayment.

HOW TO APPLY

  • Download the First Bank Salary Loan form from their website or go to the nearest First Bank bank.
  • Fill up and submit to form at the nearest FirstBank branch.

REQUIREMENTS

  • Application letter
  • Personal Loan Payment slip
  • Statement of Accounts.
  • Applicant’s letter of total salary.
  • Confirmation of applicant’s employer duly approved by First Bank.
  • Letter of irreversible domiciliation of salary for the period agreed on.

FIRST-ADVANCE LOAN

This is another loan scheme set up by First Bank designed to offer easy access to cash for customers awaiting payment of their salaries. It is meant mainly for salary earners whose accounts are lodged with FirstBank and who have received regular salaries in the subsequent time for at least six months.

HOW TO APPLY

  • Download the updated FirstMobile App from Google Play Store or Apple Store on your smartphone.
  • Log on to the App.
  • Select ‘loans’ when you see the menu options on the top left-hand side.
  • Then, select ‘FirstAdvance’ which will show your eligible amount with the charges attached.
  • Then, accept the Terms and Conditions applied.
  • After that, you input the desired loan amount, which must not be more than the eligible amount, followed by your transaction pin.
  • If successful, the exact amount of loan will be disbursed to your salary account within minutes.

On the other way around, you can apply using USSD Code with the following steps;

  • Dial *894# to connect to FirstBank’s USSD Banking.
  • Then you select 3 ‘Get Loans’ or *894*11#
  • Then follow the aforementioned steps.
  • When successful, Your account will be debited with the fees applied.

FIRSTMONIE AGENT CREDIT

This is also designed to finance First Bank Agents to solve liquidity challenges resulting from depleted account balances, even when the Agents have physical cash at hand.

HOW TO APPLY

  • Download the updated FirstMobile App from Google Play Store or Apple Store on your smartphone.
  • Log on to the App and follow the aforementioned steps. It is very easy to navigate.

FIRST BANK SME PRODUCTS FINANCING

This is another loan package that is set up by First Bank to finance small- to medium-scale retail businesses and enterprises with the required funds.

HOW TO APPLY

  • Download the Retail Loan Application Form from the First Bank website.
  • Fill up and submit the form in accompanying with the required documents at the nearest First Bank branch.

REQUIREMENTS

  • Application letter.
  • Proforma Invoice duly approved by First Bank vendors.
  • Complete Company Profile.
  • Current utility bill.
  • An Updated Audited Account.
  • Bank statement in the last six months.
  • Other KYC requirements.

FIRST BANK CONTRACT FINANCE

This loan is designed to finance bigger contracts for companies that are duly approved by First Bank for easy execution without challenges.

HOW TO APPLY

  • Download the Retail Loan Application Form from the website.
  • Fill up and submit the form to the Retail Team at the nearest First Bank branch alongside other documents.

REQUIREMENTS

  • Application Letter.
  • Letter from Employer confirming the Invoice and stating the necessary details.
  • Valid means of identification.
  • Statement of account for at least six months.

SECURED TERM LOANS

This is another loan scheme designed to finance and execute capital projects like the renovation of technology, provision of raw materials, etc.

HOW TO APPLY

  • Download the Retail Loan Application form.
  • Fill out and submit the form alongside the necessary documents at the nearest First Bank branch.

REQUIREMENTS

  • Application letter.
  • Proforma Invoice duly approved by the FirstBank vendors.
  • Updated Company Profile.
  • Current utility bill.
  • Updated Audited Account.
  • Bank statement of the last six months.

FIRST BANK IMPORT FINANCE

This loan scheme is targeted to finance FirstBank customers who are involved in the importation of raw materials or finished goods.

HOW TO APPLY

  • It is available to both existing and prospective customers of First Bank.
  • Obtain the form through the nearest First Bank branches.
  • Fill and submit it to the Relationship Manager at the Branch.

REQUIREMENTS

  • KYC documents
  • Proforma Invoice duly approved of First Bank.
  • The Risk Assessment Report (RAR).

FIRST BANK OIL AND GAS CONTRACT FINANCE

This loan scheme is also designed to support and finance the indigenous oil & gas companies that are either customers or prospects of FirstBank.

HOW TO APPLY

  • It is available to both existing and prospective customers of the First Bank.
  • Visit any of the nearest FirstBank branches.

REQUIREMENTS

  • Contract Documents.
  • Updated Financial statement
  • Evidence of completed past job(s)
  • Customer’s Application Letter.

FIRST BANK BONDS AND GUARANTEES

This kind of loan is targeted majorly at First Bank customers that require guarantees from a bank on their contracts.

HOW TO APPLY

  • It is available to both the existing and prospective customers of First Bank
  • Fill out and submit the form at any of the nearest First Bank branches.

REQUIREMENTS

  • Complete Contract documents.
  • Latest Draft Guarantee documents.
  • KYC documentation on Account openings.

IN CONCLUSION

Having had an understanding of the various loan schemes set up by FirstBank, you can visit any of the First Bank branches to apply for a loan that is suitable for your needs.

 

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