First City Monument Bank (FCMB), through its instant digital loan service, FastCash, is providing much-needed relief for Nigerian parents and guardians as a new school term begins. By offering quick and easy access to funds, FastCash helps alleviate the financial stress often associated with educational expenses, allowing families to prioritize their children’s education.
With FastCash, parents can secure loans of up to N200,000 in under five minutes to cover crucial school-related costs like tuition fees, textbooks, uniforms, and stationery. The process is user-friendly and accessible either through the FCMB New Mobile app or by dialing *329*11# on any mobile phone, providing immediate financial support for families.
“FastCash offers more than just quick access to funds,” the bank noted. “It also provides flexibility, allowing borrowers up to three months to repay the loan, spreading the cost over a manageable period.” This approach helps families balance their budgets while covering urgent education expenses without added stress.
Adetunji Lamidi, FCMB’s Divisional Head of Personal Banking, emphasized the convenience of FastCash: “We understand the financial pressures families face, especially at the start of a new school term. FastCash is designed to provide immediate relief, ensuring every Nigerian can support their educational commitments without delay or financial strain.”
Powered by advanced artificial intelligence, FastCash customizes loan offers based on individual repayment capabilities. Customers with a strong repayment history can even access higher loan amounts or top up existing loans, making the service even more personalized and efficient.
In addition to FastCash, FCMB’s Salary Plus Loan allows salary account holders to access funds in advance of their next paycheck, helping address other urgent financial needs.
Between January and August 2024, FCMB disbursed over N40 billion in digital retail loans, with FastCash playing a crucial role in helping thousands of Nigerians overcome short-term financial hurdles.
