FastCash, an instant loan solution powered by First City Monument Bank (FCMB), has disbursed over three million loans worth N105 billion to Nigerians. Each was disbursed in less than five minutes, with no collateral or paperwork required for accessing up to N200,000 via the bank’s mobile app and *329*11 USSD code.
The solution, launched in 2018 and has repayment options of 30 days to three months.
Divisional Head of Personal Banking at FCMB, Mr Shamsideen Fashola, said: “We are thrilled by the extraordinary reach and impact of FastCash. Our digital loan product, with a remarkable sum of N105 billion disbursed over five years.
Read Also: FCMB unveils FastCash
Through FastCash. We effectively bridge the access to credit gap for countless Nigerians. We know the solution has improved the well-being of Nigerians. So, we remain resolute in our dedication to serving as a steadfast pillar of support to our customers and the wider Nigerian society. First City Monument Bank will continue to empower individuals and contribute to advancing our society through innovative, convenient, secure, and easily accessible digital products.”
In addition to FastCash, FCMB offers the Salary Plus Loan, a consumer credit scheme exclusively available to salary account holders. This scheme enables qualified FCMB customers to access short or medium-term funding to meet urgent financial obligations.
Both FastCash and Salary Plus Loan are excellent solutions for those facing unexpected financial needs or planning an investment for the future. They provide quick access to funds and flexible repayment terms, making them a convenient and affordable option for Nigerians.