First City Monument Bank raises FastCash loan limit to ₦500,000

First City Monument Bank (FCMB) has increased the maximum limit for its FastCash instant-loan product to ₦500,000. The move is intended to provide eligible customers with greater capacity to manage unexpected expenses and short-term financial requirements.

The credit facility is accessible 24/7 via the FCMB Mobile App and USSD code *329*11#. The digital application process requires no collateral, documentation, or guarantors, and does not necessitate a branch visit. Eligibility is determined by a customer’s account activity, with a minimum requirement of holding an FCMB account for at least three months.

Tunji Lamidi, FCMB’s Divisional Head of Personal Banking, stated that the higher ceiling responds to customer demand for immediate and convenient short-term finance. Returning customers who meet specific conditions may access repayment terms of up to 90 days. Additionally, customers who have not reached their maximum eligible loan amount may apply for a FastCash top-up.