First City Monument Bank (FCMB) has increased the maximum limit on its FastCash instant loan to N500,000, expanding access to short-term financing for eligible customers.
The bank said the facility is available 24 hours a day, seven days a week through the FCMB Mobile App and by dialling *32911#.
Eligible customers can access the digital loan without collateral, paperwork or a guarantor, allowing them to obtain funds for emergencies and other short-term financial needs without visiting a bank branch.
According to FCMB, customers can apply digitally, while eligibility is determined largely by their transaction activity with the bank.
Customers must have maintained an account with FCMB for at least three months to be considered for the facility.
Eligible returning customers can access repayment periods of up to 90 days, the bank said.
Tunji Lamidi, Divisional Head, Personal Banking, FCMB, said the increase in the loan limit was introduced in response to growing demand for convenient access to short-term financing.
“Financial needs can arise without warning, and customers increasingly expect their bank to respond just as quickly,” Lamidi said.
He added that increasing the FastCash limit to N500,000 would give eligible customers greater flexibility to meet short-term financial needs through channels they already use.
The bank also said customers who have not fully utilised their maximum eligible loan amount can apply for a FastCash top-up, subject to meeting the applicable eligibility requirements.
FCMB said the upgrade forms part of its broader efforts to simplify everyday banking and expand access to digital credit.
The bank added that customers can manage their finances and access eligible credit through its mobile application and USSD banking platform without the need for a physical branch visit.
