FCMB Increases FastCash Loan Limit to N500,000

First City Monument Bank (FCMB) has announced an increase in the limit of its FastCash instant loan service to N500,000. This enhancement aims to provide eligible customers with better access to funds for unexpected expenses and short-term financial needs.

The FastCash service is accessible 24/7 via the FCMB Mobile App, allowing customers to apply for loans without the need for collateral, paperwork, or a guarantor. Tunji Lamidi, the Divisional Head of Personal Banking at FCMB, stated that this increase is a response to the growing demand for convenient access to short-term financing.

He emphasized that financial needs can arise unexpectedly, and customers expect their bank to respond quickly. Additionally, customers who have not fully utilized their maximum eligible loan amount can apply for a FastCash top-up, subject to eligibility.

This upgrade is part of FCMB's initiative to facilitate easier access to banking and credit services digitally.