How to get a loan from the First Bank of Nigeria

    First Bank of Nigeria

    First Bank of Nigeria Limited established in 1894, in line with its name, is the premier Bank in West Africa. First Bank commenced business on a modest scale in Lagos, Nigeria under the name, Bank of British West Africa (BBWA).

    First Bank loans are established to give funding for customers to start a new business venture, own a personal home, or upgrade lifestyle.

    How to apply for a personal home loan

    Personal Loan is a loan that can be used for just about anything i.e to pay for a home improvement project or for constructing.

    How to apply for a personal home loan

    Step 1. Visit First Bank official website and download the Home Loan Application form to be able to apply for the Personal Home Loan.

    Step 2. Complete the form and submit it at the nearest First Bank branch.

    First Bank Requirements For Personal Home Loan

    1. Application letter

    2. Last three months pays lip

    3. Statement of accounts

    4. Applicant’s letter of total emolument

    5. Confirmation of applicant’s employer on FBN-approved list

    6. Valid title document

    7. Letter for irrevocable domiciliation of salary for the duration of the facility.

    Who Is Eligible For Home Loan?

    An First Bank applicant with a verifiable and steady income (paid employment or self-employed).

    What Is The Minimum and Maximum Loan Amount On A Mortgage?

    The minimum loan offer by first bank to any applicant is N1 million and maximum of N50 million.

    What Is The Loan Tenure?

    Maximum of 20 years subject to 60 years retirement age.

    First Bank Student Loan In Nigeria

    A student loan is actually designed to help students pay for education and its associated fees.

    Requirements for Student Loan

    1. A completed application form

    2. Your admission letter

    3. Tuition advice

    4. Letter of domiciliation of your salary account or your parent’s/sponsor’s salary account

    5. Copy of employment ID or valid means of identification belonging to you or your parent/sponsor

    6. BVN

    7. Credit checks

    First bank Salary loans

    This loan is designed for only customers who have a salary account with First Bank, to help to cover pressing financial bills before payday arrives. There are three categories of First Bank salary loans.

    How to apply for salary loan

    Complete the Loan Application Form and submit it at the nearest First Bank branch.

    First Bank Salary Loan Features:

    1. You get up to 36 months repayment option,

    2. Subject to retirement age of 60 years and the Repayment Structure is Flexible.

    3. A guarantor is not required

    4. The processing time is quick

    5. Equity contribution is not required.

    6. Minimum documentation is required

    7. Your Salary Account must be domiciled with FirstBank for the period the facility is in place Flexible repayment structure.

    First Bank FirstEdu Loan

    FirstEdu is the loan available for private school proprietors/proprietress. The aim of this loan is to help improve the standard of learning and help student get better education.

    Features Of FirstEdu Loan

    1. Flexible repayment plan over 90 days

    2. Access to a maximum amount of N10m

    3. Collateral requirement is just domiciliation of school fees with FirstBank

    4. School must have been in account relationship with FirstBank for a minimum period of 6 months or 12 months with other banks.

    5. Target markets are private schools duly registered with CAC and approved by State Government.

    6. School population must be a minimum of 100 students.

    How To Apply For FirstEdu Loan

    Visit the nearest first bank branch in your location with your school details. Tell the customer care representative that you want to apply for first bank loan. Make it clear that the loan is FirstEdu.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here