FastCash Supports Nigerians with Two Million Digital Loans Worth 59bln

Lagos: April 26, 2022: FastCash, the fastest-growing instant loan solution in Nigeria, is proud to announce its two millionth loan disbursement. All the loans disbursed by the platform are worth NGN 59 billion and have helped customers from different walks of life meet urgent financial needs and achieve their short-term objectives.

 This milestone is particularly significant because of its financial inclusion benefits. Every FastCash loan closes the access to finance gap in Nigeria and ensures the well-being of a Nigerian household.

Commenting on this significant achievement, the Divisional Head, Personal Banking of FCMB, MrShamsideen Fashola, said, “the amount of trust placed in FastCash by our customers is humbling. We will continue improving on this product to deliver exceptional customer experience. The success we have achieved thus far is a testament to our commitment at FCMB to support our customers through financial technology products that are convenient and accessible”.

Launched by First City Monument Bank (FCMB) in 2018, FastCash is a personal digital loan product that makes credit up to N200,000 available to existing customers and non-customers of the Bank in less than five minutes. Customers can conveniently access the loan through the FCMB New Mobile App or by simply dialling the Bank’s *329*11.

In addition to FastCash, FCMB also offers a Salary Plus Loan, a consumer credit scheme available to salary account holders. Through this scheme, qualified FCMB customers can access short or medium-term funding before salaries to meet urgent needs, such as school fees payment for their children. Existing customers on Salary Plus can also top up their loans when they require additional financial support.

In vast numbers, Nigerians have adopted FastCash and SalaryPlus. Both products have proven to be excellent solutions for those in need of sudden cash during these challenging times, affirming FCMB’s commitment to products and services that close the access to credit gapfor all strata of Nigerian society.

First City Monument Bank continues to help improve the financial well-being of millions of Nigerians who have urgent needs for collateral-free loans at a reasonable interest rate.

A purpose beyond profit commercial banking institution, First City Monument Bank is a member of FCMB Group Plc, led by Ladi Balogun as Group Chief Executive. The Bank is committed to COVID-19 recovery, income equality and poverty reduction by easing credit constraints to disadvantaged individuals and small businesses.