In its drive to reinforce financial inclusion in Nigeria, West Africa premier Bank, Firstbank said it has disbursed loans of over N17 billion to individuals across the country through its digital lending solution, FirstAdvance.
“Meeting the needs of our customers have always been our priority and we are delighted with the volume of loans disbursed to Nigerians as it reinforces the confidence of Nigerian workers in FirstAdvance, our digital lending solution and also our long-term offerings through Personal Loans for people in paid employment,” Gbenga Shobo, FirstBank’s Deputy Managing Director said.
An excited Gbenga noted that FirstBank is deepening financial inclusion to support every household in Nigeria through the FirstAdvance solution. He called on salary account holder with FirstBank and in need of a quick loan to cater for pressing need to dial 894*11# or initiate a loan request via FirstMobile App to make that need a reality.
FirstAdvance is designed to offer convenient and easy access to cash for salary earners whose accounts are domiciled with FirstBank and have received regular salaries for two months, prior to the loan request. In barely a year since the launch of FirstAdvance, over 128,000 unique customers in over 782,996 successful transactions have so far benefitted from loans.
Processing a loan with FirstAdvance is implemented in less than a minute and it is accessed in two ways, the USSD code; *894*11# or the Bank’s recently upgraded mobile banking application, FirstMobile. Customers are advised to upgrade their FirstMobile App to the latest version on android and ios for requests via the App.
Further to its pursuit of providing options to Nigerians across all income bands, FirstBank’s also offers Personal Loan Against Salary (PLAS) to individuals in paid employment who need long term loan to meet their financial obligation more especially as the economy returns to normalcy post Covid-19 pandemic and as schools resume. FirsBank’s Personal Loan guarantees a convenient repayment plan of up to 60 months.