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How to Borrow Quick Loan from First Bank

By Oluchukwu Ikemefuna

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What is the First bank quick loan code? Established in 1894, First Bank of Nigeria Limited is the pioneer bank in West Africa. Its awards and recognitions over the past 130 years of operation showcase it as a leading financial service provider in Nigeria.

First Bank caters to numerous financial needs of customers, such as cash management, payments and other banking transactions, intervention funds support, trustee services, instant loans, and more. Among all these, our discussion for today revolves around just one: First Bank’s instant loan service, known as First Credit. 

First Credit is a system by which First Bank provides quick cash loans to its account holders. Want to know more about FirstCredit and how to successfully apply? Then let’s explore. 

Also read: Best Loan Apps with Low Interest Rate in Nigeria

About First Bank Quick Loan

First Bank of Nigeria offers a quick loan option known as First Credit to its existing customers. The minimum loan amount is ₦1,000, and the maximum is ₦300,000. Any amount borrowed is payable within 30 days max.

First Bank Quick Loan Code and How to Borrow Quick Loan from First Bank

The application process for a First Bank quick loan is completely digital, allowing customers to easily apply without necessarily visiting a bank branch. Simply apply via the bank’s website, or use the First Bank quick loan code. No documentation or collateral is required.

The First Bank quick loan has an 8% interest rate, with a 5% insurance fee on each transaction. Both fees are deducted upfront, as soon as the loan is disbursed. An additional 1% is charged in default of payment, plus a daily interest of 0.3% for every day of default.

How to Apply for First Bank Quick Loan

As quickly as you need your funds, First Bank responds quickly to meet your needs. The application process is fast and secure; you can complete the entire process in ten minutes, max. Here is a step-by-step guide on how to go about it: 

Step 1: Take the Eligibility Test

Imagine that you already gathered all the relevant documents for the credit. You have used the loan calculator to determine the total interest on the amount you want to borrow. You are more than ready for this.

Only for you to dial the First Bank quick loan code and realise that you do not even meet the eligibility criteria. Oops. What a waste of time, isn’t it? This is why the first step to any application is always to ensure that you are eligible. If you tick the boxes below, then you are 100% eligible to apply for First Bank quick loan: 

  • You have a First Bank account which was opened at least six (6) months ago
  • You are at least 18 years old at the time of application 
  • You have a high credit score 

You can also use a loan calculator to determine if you would be able to afford the interest rate, which is 8% monthly, payable within a month max. Considering the other service charges too, can you comfortably afford the quick credit without straining your finances? If yes, then let’s proceed to the second step.

Also read: Top 10 Online Banking Apps in Nigeria 2024

Step 2: Prepare the Application Documents 

If you follow our blog posts frequently, you will know that one thing we always emphasize for any loan application process is preparation. In this case, note the relevant documents needed for the application and ensure you have them handy and ready to submit instantly. It’s even worse when you are applying through the code, there will be very little time to enter all relevant details. 

So what documents or information do you need in your application for this credit? They are listed below: 

  • Proof of a regular stream of income, such as a bank statement, recent pay slip, or tax clearance certificate
  • Proof of age (18 years of age or older at the time of application)
  • National Identity Number or any other means of identification 
  • An updated mobile number
  • Proof of residency in Nigeria 
  • First Bank account number 
  • Bank verification number

Step 3: Start the Application for First Bank Quick Loan 

You can apply digitally or in person. There are three ways to apply digitally; they are as follows:

  • With the First Bank quick loan code 
  • With the FirstMobile app
  • On the First Bank Website 

Apply with the First Bank Quick Loan Code

The code is one of the most common ways customers apply for First Credit. It’s a quick offline solution to getting instant cash, perfect for emergency cases. The process is as follows: 

  1. Dial the code: *894#
  2. Click “Continue” to accept the service charge
  3. Select option 3, “Loans,” from the main menu 
  4. Select “FirstCredit”
  5. Select “Get a new loan”
  6. Choose the First Bank account which you want to use for the loan application 
  7. Grant consent to your data 
  8. Read the terms of service and click accept if it suits 
  9. Choose your preferred loan amount from the options presented to you.
  10. Await loan disbursement into your account.

Note that the First Bank quick loan code attracts a service fee of ₦6. You will be notified immediately when you dial the code.

Also read: 8 Illegal Digital Loan Companies in Nigeria You Should Avoid 2024

Apply on the FirstMobile App:

The FirstMobile app is an innovative technology that is user-friendly and easy to navigate. It’s another fast way of applying for a First Bank quick loan, especially if you are already registered on the app. Here’s what to do: 

  • Download the FirstMobile app on the Google Play Store, Apple App Store or Huawei App Gallery 
  • Open the app and log in or register
  • On the home page, select “Loans”
  • Tender the information and documents required 
  • Await verification 
  • If your loan is approved, you will be sent the Terms of Service
  • If you are fine with it, click “Accept”
  • Await immediate disbursement. 

Apply on the First Bank Website:

As good as the mobile app, the website has a smooth interface; easy to navigate. To apply for the quick loan on the bank’s website, follow the steps below:

  • Head to the Website 
  • On the home page, select “First Credit” 
  • Fill out the application form and click “Submit” 
  • Upload relevant documents 
  • Await verification 
  • If your loan is approved, you will be sent the Terms of Service. If you are fine with it, click “Accept”
  • Await immediate disbursement. 

Finally, you can apply for a First Bank quick loan at a bank branch. Click here to locate the nearest bank branch to you.

If you encounter challenges during your application process, you can seek assistance from the customer support centre. Contact them at +2347080625000 or +23414485500. You can also send an email: to firstcontactcomplaints@firstbanknigeria.com 

Why First Credit?

Customers often wonder why they should apply for a FirstCredit loan over a regular personal loan. Here are some reasons:

  • First Credit was designed with emergencies in mind, so the application to disbursement time is brief. If you need quick cash ASAP, First Credit is definitely your go-to.
  • You can borrow as much as ₦300,000 to meet your emergencies using First Credit.
  • First Credit is unsecured; you do not need to worry about what asset to tender as collateral. The documentation is also very light.
  • You can apply for First Credit offline using the quick loan code.
  • The customer support centre is always available to assist you through the application process. You can reach them at +2347080625000 or +23414485500. You can also send an email: to firstcontactcomplaints@firstbanknigeria.com.

Frequently Asked Questions 

What is the First Bank Quick Loan Code? 

The First Bank quick loan code is #894#

What are the Eligibility Requirements to Apply for First Bank Quick Loan? 

The eligibility requirements for a quick loan are: active First Bank account which is at least six (6) months old; being 18 years of age or older at the time of application, and having a high credit score 

How Much is the First Bank Quick Loan Limit? 

First Bank’s quick loan request limit is ₦300,000, and the minimum is ₦1,000.

Does First Bank Quick Loan Require Collateral?

No. A First Bank quick loan is unsecured, meaning it does not require any asset as collateral before the loan is approved and disbursed. However, you will be required to provide proof of income, proof of residency, and other basic documents.

What is the First Bank Quick Loan Interest Rate? 

The First Bank quick loan interest rate is 8% flat. 

First, a Guarantee 

First Bank of Nigeria is top in Nigeria, not just because of its traditional banking services but also because of its innovative developments. The First Bank quick loan meets the times, considering the economic hardships. Furthermore, it is easy to access.

Whether you are using the quick loan code, FirstMobile, or online banking, you are guaranteed a straightforward process, and your loan will be disbursed in minutes. So head on to the First Bank website and start your loan application process. 

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Oluwajuwon Oladiti
Oluwajuwon Oladiti

Oladiti Oluwajuwon is an ardent reader and a voracious writer who is passionate about informing the public with first-hand, authentic information. His writing expertise has spanned over 5+ years, an odyssey that began in 2018. Over the years, he has crafted pieces across multiple domains, including religion, education, politics, and tech. There are two principles at the core of his writing: information must be genuine and accurate, and there is nothing erudite about speaking in terms people don't understand. While maintaining technicality, messages must be passed in a way that resonates with the readers.

Oluwajuwon is also a software engineer who specializes in backend development with Python, and he has an unwavering passion for music, pop genre especially.

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