FastCash offers up to N200,000 loan to aid back-to-school expenses

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FastCash offers up to N200,000 loan to aid back-to-school expenses
FastCash offers up to N200,000 loan to aid back-to-school expenses

As students prepare to commence another academic term, FastCash, a financial product powered by First City Monument Bank (FCMB), is presenting an opportunity for parents and guardians to obtain up to N200,000 in financial support to address the expenses associated with school fees and back-to-school supplies.

This credit facility is specifically designed to assist in covering costs related to school uniforms, books, bags, confectioneries, and other essential items that contribute to enhancing children’s learning experiences.

Mr. Shamsideen Fashola, the Divisional Head of Personal Banking at FCMB, emphasized the significance of this back-to-school offering, acknowledging the financial challenges that many families encounter during this period.

He stated that FastCash aims to simplify this process by providing parents with the necessary financial resources to ensure a successful start to the new school year.

FCMB’s quick and affordable digital loan solution up to N200,000

FastCash is described as a convenient and affordable digital loan product, designed for FCMB’s existing customers, offering access to credit up to N200,000 in less than five minutes to meet urgent financial needs.

FastCash leverages Artificial Intelligence (AI) and machine learning technologies to expand access to funds, enabling customers to increase their existing loans without full repayment.

It aims to bridge the finance accessibility gap in Nigeria, promote financial inclusion, and contribute to poverty reduction.

The loan can be conveniently accessed through the FCMB New Mobile App or by dialing the bank’s USSD code, 32911#, without requiring collateral or extensive paperwork.

Customers with a good repayment history benefit from reduced interest rates, and the option to top-up loans with favorable repayment terms.

Since its launch in 2018, FastCash has disbursed over 3.5 million loans worth N111 billion, becoming a popular choice for Nigerians in need of swift financial assistance.

This financial product is available exclusively to FCMB customers, offering flexible repayment terms spanning from 30 days to three months.

First City Monument Bank (FCMB) operates as a member of the FCMB Group Plc and is committed to fostering inclusive and sustainable growth within its communities.

The bank aims to build a supportive ecosystem rooted in Africa, connecting people, capital, and markets, while offering innovative financial solutions to enhance the economic well-being of Nigerians.