Abayomi Susan
First City Monument Bank (FCMB) has increased the maximum amount available under its FastCash instant loan facility to ₦500,000, giving eligible customers greater access to funds for urgent financial needs.
The bank said the enhanced FastCash facility is designed to provide customers with convenient access to short-term credit without the need for collateral, paperwork or a guarantor.
FastCash is available 24 hours a day through the FCMB Mobile App and USSD platform, allowing eligible customers to apply without visiting a bank branch.
According to FCMB, eligibility is determined partly by customers’ transaction activity. Customers must have maintained an FCMB account for at least three months to be considered for the facility.
Returning eligible customers can access repayment periods of up to 90 days, while customers who have not fully utilised their maximum eligible loan amount may also apply for a FastCash top-up, subject to eligibility.
Commenting on the increase, Tunji Lamidi, Divisional Head, Personal Banking at FCMB, said the adjustment was aimed at responding to customers’ growing need for convenient access to short-term financing.
He said financial needs could arise unexpectedly and that customers increasingly expect their banks to provide quick and convenient solutions through channels they already use.
The bank said the FastCash enhancement forms part of its broader efforts to make everyday banking and digital credit services more accessible, giving customers greater flexibility in managing their financial needs.
FCMB’s official FastCash information currently lists the maximum loan amount at ₦500,000 and confirms that customers can apply through the bank’s mobile app or USSD platform.
