A instant loan solution powered by First City Monument Bank, Fast cash, has said it is making up to N200,000 accessible for Nigerians to meet emergency financial obligations, pay children’s school fees and rent by accessing.
In a statement made available on Monday, the firm said the loan requires no collateral or paperwork. It said it is available and accessible to salaried and non-salaried customers of FCMB through its mobile app and USSD platform.
Divisional Head of Personal Banking at FCMB, Shamsideen Fashola, explained, “We introduced FastCash as a collateral-free loan to give Nigerians with urgent and unexpected needs access to funds within minutes when it matters most.
“FastCash loans close the access to finance gap for many Nigerians, ensuring the well-being of their household.”
The firm said beneficiaries could spread the loan repayment for up to three months.
According to the firm, over 2.7 million loans had been disbursed via the FastCash platform since it was launched in 2018.
FCMB also said that it offers Salary-Plus-Loan to salary account holders. It allows qualified customers to access short or medium-term funding before salary payment if they have to meet urgent needs.
