First Bank loan Code-How To Apply For FirstCredit

First Bank of Nigeria Limited, the premier Bank in West Africa with its impact woven into the fabric of society, which has its branches across Nigeria and Africa. The bank has a loan product called firstCredit

Firstcredit  is a product designed to provide you with a quick and simple loan to fund your transactions.  Loans can be accessed from anywhere without visiting the Bank. No documentation or collateral is required all the customer need is a mobile phone or tablet.

Benefits Of  FirstCredit

• Easy and convenient access to loans to meet needs.
• Quick loan request and disbursal
• No physical documentation required.
• No collateral required
• No hidden fees Features of First Credit
• Customer’s account must have been operational in FirstBank for at least 6 months.
• Customer must be linked to a valid BVN.
• Customers must have correctly updated phone numbers
• Customer must have positive credit record with Credit Bureaus.
• Minimum Loan Amount: N1,000 (One Thousand Naira)
• Maximum Loan Amount: N300,000 (Three Hundred Thousand Naira)
• Loan Tenor: Maximum of 30 days
• Interest Rate: 10% flat
• Insurance:  1% per transaction
• A penal charge of 1% monthly and daily interest of 0.3% applies upon default
• Interest on disbursed amount will be taken upfront on loan disbursal
• Insurance fee is also taken upfront on loan disbursal

 

How To Apply For FirstCredit

1. Dial *894#
2. Select Loans
3. Select FirstCredit
4. Select get new loan
5. Select the account number with which you want to apply for the loan
6. Grant data usage consent and accept terms and conditions
7. You are presented with 4 loan amount options
8. Choose your desired loan amount
9. Loan is disbursed into your account

 

Click  here to complete the ONLINE DATA Consent Statement (FirstCredit NanoLending)

Terms And Condition applies.

Frequent Ask Question About FirstCredit

What is FirstCredit Product?

FirstCredit is a product designed to provide you with a quick and simple loan to fund your transactions.  Loans can be accessed from anywhere without visiting the Bank.

 

No documentation or collateral is required; all you need is a mobile phone or tablet.

Frequently Ask Question About FirstCredit

How do I access FirstCredit?

You can access FirstCredit by dialing *894# and then follow the below steps:

• Select 3. Loans
• Select 1. FirstCredit
• Select your account number
• Select 1 to give consent
• Select your desired loan amount
• Input your USSD 5-digit PIN

Other channels (FirstMobile & FirstOnline) will be included soon.

What is the maximum amount that can be accessed?

You can get up to N300,000.00 depending on your account activities.

What is the tenor of the loan?

The maximum tenor is 30days; however, you have the option to decide if you want to pay up the loan before 30days.

What is the interest rate on this product?

The interest rate is 10% flat on the principal amount; a penal charge as defined in the terms and conditions applies on unpaid loans at expiration of the tenor.

 

Are there other fees

Yes – 1% insurance

What makes me qualify for this loan product?

You must have been in a relationship with the Bank for at least 6 months.  And must also:

 

Have a valid BVN

Not have a bad loan

Transact often on your account

 

Can I use any mobile number to apply for FirstCredit

No.  You must use the mobile number activated for USSD

 

How can I activate my phone number for USSD?

• Dial *894*0#
• Select register for customer
• Selects ‘Register for 894Banking’
• Selects PAN of active debit card and inputs 4-dgits Card PIN
• Generates 5-digit USSD PIN

 

How soon will my account be credited with the loan amount when I apply

Immediately

Do I have to visit the Bank to apply for FirstCredit?

No. You can apply from anywhere using your mobile devise by dialing *894#

and then follow the below steps:

• Select 3. Loans
• Select 1. FirstCredit
• Select your account number
• Select 1 to give consent
• Select your desired loan amount
• Input your USSD 5-digit PIN

Other channels (FirstMobile & FirstOnline) will be included soon.

How do I increase my chances of always accessing the loan?

Ensure improve activities on your account and always repay outstanding loans promptly

 

How do I get higher loan amount?

Ensure improve activities in your account and always repay outstanding loans promptly

What if I fail to repay my loan?

You will be charged a default fee and may also be unable to access more loans

 

What if the loan options presented to me are not what I actually want

Take the option closest to your needs.

How do I confirm if I am eligible for FirstCredit?

Call our FirstContact on 07080625000 to confirm

 

What if I want to repay my loan before it is due for payment?

Dial *894# and choose the repay loan option

 

Will I be able to take a loan if I have an existing loan?

No.  You will have to repay your existing loan to qualify for a new one.

 

Will I be able to get a loan if I don’t have a smart phone?

Yes. You can access FirstCredit with any kind of phone

 

Can I apply for the loan from any location?

Yes, you can access the loan from anywhere and at anytime using your mobile device

What do I do if I need to make further clarifications about the product?

Call our FirstContact on 07080625000 for resolution of your complaint

Conclusion: We believe this article was helpful to you and  have provided  first hand  information on how to apply for first bank loan with firstcredit product, it just a  dial of code *894#. Kindly visit  first bank web site at www.First.bank.com  or any of their branches close to you for more enqiries and information.