FCMB to give out N200,000 loans for school fees payment

The First City Monument Bank (FCMB) has disclosed plans to help parents with children’s school fees and rent by accessing FastCash loans of up to N200,000 in minutes.

In a statement Tuesday, it stated that FastCash is a collateral-free, convenient, easy-to-access instant loan solution.

It added that the FastCash loan requires no collateral or paperwork and is available to salary and non-salary customers of FCMB through its mobile app and USSD platform.

While stating that it takes less than five minutes to complete the application process, and the loan is disbursed instantly, the statement said beneficiaries can spread the loan repayment for up to three months.

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Speaking, the Divisional Head of Personal Banking at FCMB, Shamsideen Fashola, said, “we introduced FastCash as a collateral-free loan to give Nigerians with urgent and unexpected needs access to funds within minutes when it matters most. FastCash loans close the access to finance gap for many Nigerians, ensuring the well-being of their household”.