Last Updated on December 7, 2023 by admin
Do you want to know the different type of loan offers by First city monument bank and how to apply? With FCMB Quick Loan b0rrowers can easily access credit facilities , this kind of loans don’t require collateral except for you having salary account with the bank. If you are considering borrowing a loan, you might want to check FCMB loan packages out.
Since loan helps borrower meet unforeseen financial emergencies, FCMB has unveiled Quick Loan, which is short-term facility of 10 million Naira for SME customers with quick turnover days. The loan doesn’t required collateral
Borrower can access loan amount as low as N20,000 and as much as N10 million within hours, with no collateral required and also a flexible monthly repayment schedule options up to 180 days.
The loan Target Market: All SMEs in the following space
.Power and Utilities
.All SME Servicers
The interest rate for for first city monument bank Quick Loan is 2.5% monthly which is equivalent to 30% per annum
FCMB have two types of short-term facilities/loan which are:
1. School Aid Facility (SAF)
2.School Support Facility (an hybrid of SAF due to impact of COVID-19)
3. Temporary Advance
1.School Aid Facility (SAF)
School Aid Facility is a short-term loan facility availed to private school business owners. purchase of books, school uniforms and consumable amongst other reoccurring school expenses within the term. Capital project finance is not accommodated using this facility/product.
The loan amount for Amount School Aid Facility is between N500,000 to N5,000,000 with 6 weeks tenor.
2.Temporary Advance Facility (TAF)
This is a short-term loan for all businesses (goods and services oriented except those in BDC, financial services and CBN prohibition list) requiring quick/urgent financial assistance to meet working capital need or to improve turnover cycle.
School Support Facility (SSF)
The School Support Facility was introduced as an upgrade to our School Aid
How Apply for FCMB Quick Loan
Customers can apply for Quick Loan via FCMB internet banking or mobile banking. You can also visit the nearest FCMB Branch for assistance.
To apply, simply follow the steps below:
1. Launch your Business Banking platform OR log on to https://ibank.fcmb.com/corporate/BbgLoginScreenUI.aspx
2. Click on Loans and select SME Quick Loan
3. Provide/select your business account number
4. Complete the set of 15 short and quick questions (remember to select or enter eligible amount)
5. Click Submit Request
6. A prompt telling the status of the loan request will pop up
7. Proceed to the nearest FCMB Branch to collect printed offer letter, execute it and engage your account officer to process to disbursement.
3. FCMB Fast cash
FCMB fast cash is a paperless loan facility that requires no collateral. You can apply for this loan by dialing the USSD code, *329*11#.
What are the features and benefits of FCMB fast cash?
Some of the features and benefits of FCMB Fast Cash includes:
1.Instant access to funds
2.Up to N200,000 loan amount
3.No paperwork required, just apply through the mobile app or *329*11#
4.No collateral needed
5.30 days tenors for new customers
6.Up to 90 days clean up cycle for returning customers
7.Customer can apply as many times in a year as s/he is qualified.
4.FCMB Salary Plus Loan
SALARY PLUS LOAN is a credit scheme available to salary account holders. Through this scheme, FCMB qualified customers can access either short or medium term funding to satisfy their personal financial needs.
Eligibility is based on criteria such as domiciliation of salary account with consistent receipt of salaries for a period of 6 months and categorized employer.
Salary Plus Top-Up
Salary top-up loan is a credit scheme available to existing customers who have a salary plus loan. Prequalification is done based on criteria such as up-to-date salary and no missed repayments on loans within the last 6 months.
To top-up your Salary loan through FCMBOnline , simply follow the steps below:
Log on to FCMBOnline
Click on Consumer Loan
Click on Salary plus top up
Select Current account number
Confirm loan amount
Check the box for terms and conditions.
Submit request and loan is disbursed within 8 hours.
5. FCMB Premium Salary Loan
The fcmb Premium Salary Plus loan provides confirmed staff of commercial organizations more useable funds. The employee’s organization must have been rated on Moody’s with a minimum A- rating, and eligible employees interested in the product must earn a minimum monthly income of N100, 000.00.
Employees interested in the product must be eligible for minimum loan amount of 2,000,000.
- Minimum loan amount – N2 Million
- Maximum tenure – 60 Months
- Minimum tenure – 12 Months
- Management fee – 1% flat upfront (0.5% for top-up loan)
- Collateral – Domiciliation of salary, terminal benefits and other allowances
- Insurance fee – 0.9%*loan amount*tenure (in years
6. FCMB Auto Loan
FCMB Auto Loan is a consumer credit scheme which allows qualified individuals to part-finance acquisition of cars for personal use. Customers can own a car and pay over a period of time.You can Own your dream car and conveniently spread the payments over a period
7. FCMB Cash-Backed Loan
With an FCMB Cash-Backed loan, you can use your investments as collateral to access a loan at a competitive interest rate.You Don’t Need To Liquidate Your Investment Content Page.
This loan is available to both salaried and self-employed customers with fixed deposits and other liquid investments.
- Available as overdraft and term loan
- Enjoy an overdraft line if your investment remains with the bank
- Flexible loan tenor; subject to the maturity date of the investment
- No insurance charges
- Unrestricted access to funds when needed, while the customer continues enjoying interest on their investments
- Interest is charged per month only on the portion of the utilized overdraft
- Collateral coverage is as low as 110%
- Flexible loan tenor
- Competitive interest rate
- Management fee of 1% of the approved overdraft amount
How to apply?
Please visit any of our branches to get started.
8. FCMB Mortgage
With the FCMB Home Loan, you can own that dream home in no time and give your family the much-needed convenience they deserve, by accessing cheaper mortgage financing opportunities.
In partnership with Brains & Hammers and Brooks Assets; leading real estate developers, here’s what you’ll get:
Up to N200 million and a maximum repayment period of 120 months (10 years)
Loan access without additional collateral
Adequate insurance cover
Access to verified real estate developers. You can also get a loan and use real estate developers of your choice.
As an FCMB customer, you can access the Home Loan facility for a repayment tenure of up to 10 years at convenient repayment terms.
Terms and Conditions
- Interest rate – As low as 20% p.a
- Fees – 1% flat (one-off, upfront)
- Fire & Special Peril Insurance – 0.25% (one-off, upfront)
- Life Insurance – 1% (one-off, upfront)
- Max. Loan Tenor – 10 years (120 months)
- Max. Loan Amount – N200m