Planning to borrow money from FirstBank but don’t want to use the FirstMonie app or you don’t have the FirstBank Mobile app? Well, there’s a way to go around it and if you’ve been searching for it, we’ve got you covered.
Getting a loan from FirstBank is possible and while it may seem difficult, it’s not, and we will tell you how to get a loan from FirstBank. You might have tried a loan app in Nigeria and you’re not satisfied with their interest rate or loan offer. If you’re a FirstBank customer, then you don’t need a loan app to give you loans.
In this topic you’re reading on NaijaKnowHow, you’ll learn how to borrow money from FirstBank while using USSD Code. This tutorial is strictly for FirstBank users only and you must be a salary earner before you can qualify.
How To Borrow Money From FirstBank Using Code
When applying for a loan on FirstBank, as we’ve explained above that. You can apply for a FirstBank loan from their mobile app and also via their USSD. Before we begin the steps of applying for a FirstBank loan with USSD Code, let’s give you an overview of FirstBank Loan also known as FirstAdvance.
What is FirstAdvance?
FirstAdvance is a loan solution from FirstBank and it is designed to help salary earners apply for loans. This lending solution is applicable to FirstBank customers only. While you await your salary, you can always use FirstAdvance as a means of getting money to sort out some expenses before your PayDay.
Requirements for FirstAdvance Loan with FirstBank
In order to get a loan offer or before you can borrow money from FirstBank. The following requirements must be met.
- You must be an active FirstBank Customer.
- You must have received salary payments in 2-3 months with FirstBank.
- You must have a good and clean credit score.
- A registered phone number that links to your FirstBank account.
Steps to Borrow Money From FirstBank Using Code
In order to Apply for a FirstAdvance loan or borrow money from First Bank while using USSD Code on your smartphone. Kindly follow the simple steps that we’ve highlighted below.
- Step 1: Go to your phone dial pad, then dial *894#, once the prompt message pops up. Select 3 to Get Loans.
- Step 2: Once you’ve selected “Get Loans”, on the next screen, you’ll see the eligible loan amount that you can apply for. If it’s higher than what you’re expecting, you can enter the desired amount.
- Step 3: Select the amount you want to loan or enter desired loan amount then send. On the next screen, you will see your interest rate, management fees and insurance fee as well. Press continue to proceed to the next page.
- Step 4: Input your FirstBank transaction pin while accepting the terms and conditions. Within a few minutes, the loan will be sent to your FirstBank salary account.
Note: Your account will be debited for Management Fee, Interest Rate, and Insurance Vat and they’ll serve as upfront fees and charges. Once any money enters your FirstBank salary account, your account will be debited for principal repayment.
Conclusion
That’s all on how to borrow money from FirstBank using code. This process is very fast and it lets any salary earner who is a FirstBank customer borrow money easily. Loaning from the app is possible as well and they’re relatively the same process.
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