How to Get a Loan from First Bank Nigeria in 2026

If you are wondering how to get a loan from First Bank, you’re in the right place. FirstBank Nigeria offers a variety of loan products tailored to meet different financial needs, from personal expenses and salary-based loans to home acquisition. With options like digital loans, you can now apply and receive funds instantly using your mobile phone without visiting a branch or contacting a guarantor.

However, not everyone qualifies for a FirstBank loan. One of the primary requirements is that you must have a domiciled account with FirstBank, as this is the first step to accessing any of their loan products.

How to Get a Loan From First Bank Nigeria

FirstBank loans are grouped into different categories. You must choose a loan type that fits your financial needs as seen below:

• FirstAdvance Loan
• FirstCredit Loan
• Personal Home Loans
• Personal Loan Against Salary (PLAS) :
• FiestMonie Agent Credit:

Once you are able to understand each of the laons offered by the bank, applying for eligible one is easy. Now let’s discuss each of the loans in details and how you can borrow any of the loans.

1. First Advance Loan

The FirstAdvance Loan is tailored for salaried customers with salary accounts at FirstBank who have received regular salary payments for at least the last two months. FirstBank reviews this salary history to determine loan eligibility.

The loan amount you can access depends on the repayment plan you choose. Options include a 30-day (1 month) or 90-day (3 months) repayment period, each with features suited to different financial needs. Below, we compare the benefits and terms of both options to help you make an informed choice.

FirstAdvance Loan Repayment Options (30 Days vs 90 Days)

Feature	30-Day Variant	3-Month Variant
Eligible Loan Amount	Up to 50% of net monthly income	Up to 75% of net monthly salary
Tenor	30 days or next payday (whichever comes first)	90 days or third payday (whichever comes first)
Maximum Single Obligor Limit	₦1,500,000.00	₦2,000,000.00
Interest Rate	3% flat, collected upfront	3% flat, factored into EMI and repaid monthly
Management Fee	1.0% flat, collected upfront	1.0% flat, collected upfront
Credit Life Insurance	1.0%, collected upfront	1.0%, collected upfront
VAT on Management Fee	Not applicable	7.5% VAT on Management Fee, collected upfront
Repayment Method	Full repayment taken immediately salary is received	Equated Monthly Instalment (EMI) repaid every 30-day cycle until salary receipt
Repayment Control	Lien placed on unfunded account	Lien placed on unfunded account
Risk Acceptance Criteria	Automated	Automated
Loan Access Frequency	Up to five times a day, subject to eligibility	Up to five times a day, subject to eligibility
Fee Collection Timing	All fees and interest collected upfront upon disbursement	Management fee, insurance, VAT collected upfront; interest repaid with principal monthly

How to Apply

The FirstAdvance loan from FirstBank is a quick and convenient salary-based loan available to customers with a FirstBank salary account.

2. First Credit Loan

The FirstCredit loan option is one of the most accessible products from FirstBank, available to any FirstBank customer. You do not need to have a salary account to qualify for this loan.

The application process is fully online, with no need for physical documentation or collateral. Using your mobile phone or other mobile devices, you can complete the application quickly and conveniently.

Requirements

Item	Details
Product Name	FirstCredit
Loan Type	Short-term digital salary loan
Access Method	Online (no branch visit required)
Account Requirement	Active FirstBank account for minimum of 6 months
BVN Requirement	Must be linked to a valid BVN
Contact Information	Phone number must be properly updated
Credit Status	Good standing with credit bureaus
Loan Amount Range	₦1,000 – ₦300,000
Loan Tenor	Up to 30 days
Interest Rate	8% flat, deducted upfront
Insurance Fee	5% per transaction, deducted upfront
Default Charges	1% monthly penalty + 0.3% daily interest

How to Apply for FirstCredit Loan

Applying for a FirstCredit loan is simple and convenient. You can do this either through the FirstBank mobile app or via USSD. While the app process is straightforward, here’s a step-by-step guide using the USSD method.

Applying via USSD:

1. Open your phone dialer and enter *894#.
2. From the menu, select Loan.
3. Choose FirstCredit.
4. Select Get New Loan.
5. Choose the account you want the loan credited to.
6. Review and accept the terms and conditions.
7. Select your preferred loan amount and confirm by entering your four-digit PIN.

The loan is instantly credited to your account once the process is complete, making it a fast and convenient way to access funds directly from your FirstBank account.

3. FirstBank Personal Home Loan

Unlike other loan options from FirstBank, the Personal Home Loan is specifically designed for married individuals looking to acquire a residential property, not for commercial purposes. This facility is targeted at employees with a stable and well-paid income, ensuring they can comfortably manage repayment over time.

The loan features a long repayment tenure, structured as a mortgage spread across several years. Unlike quick digital loans, the Personal Home Loan requires proper documentation and thorough verification before approval.

FirstBank Mortgage Loan Requirements

• The facility is available to individuals in paid employment with verifiable income.
• The maximum loan tenor is up to 20 years, subject to the applicant’s retirement age.
• Documentation requirements are streamlined for ease of processing.
• A minimum equity contribution of 20% of the property value is required.
• Interest rates are competitive and aligned with prevailing market conditions.
• The property to be financed must be strictly residential, located in FirstBank-approved areas, and not intended for commercial use.
• The applicant’s salary account must be domiciled with FirstBank for the entire duration of the facility.

Required Documents

To apply for the Personal Home Loan, applicants are expected to provide the following documents:

• An official offer letter issued by the property vendor
• Copies of the property title documents, confirming that ownership is registered in the vendor’s name
• A copy of the approved building plan for the property
• A completed Personal Home Loan Application Form
• An irrevocable salary domiciliation letter, valid for the entire duration of the loan facility

How to Apply: Visit any FirstBank branch to make enquiries and obtain the Personal Home Loan application form. Alternatively, you may download the form online, complete it, and submit it at any FirstBank branch closest to you.

5. Personal Loan against Salary

FirstBank offers the Personal Loan against Salary (PLAS) to salaried account holders whose salary accounts are domiciled with the bank. This loan facility is designed to help individuals meet medium- to long-term financial needs such as rent payments, children’s school fees, vacations, home furnishings, and other personal expenses. Repayments are conveniently deducted from the borrower’s salary account over an agreed period.

However, not every salary account holder automatically qualifies for this facility. The loan is primarily available to customers who already have an existing personal loan with FirstBank and have maintained a good repayment record without defaults. Such customers may be eligible for a loan top-up.

In addition, FirstBank extends this facility to salaried employees of approved and recognized organizations who are willing to transfer their salary accounts to FirstBank. This option, known as a Personal Loan Buy-Over, allows external employees to move their salary accounts to FirstBank in order to access the PLAS facility.

PLAS Eligibility, Features & Repayment Structure

The Personal Loan against Salary is a convenient financing option for salaried individuals who need quick access to funds with flexible repayment terms. Below are the key features of the loan:

• Borrowers can repay the loan over a period of up to 60 months, subject to their retirement age.
• No guarantor is required, making the application process simple and stress-free.
• Loan processing and approval are fast, allowing applicants to access funds quickly.
• There is no requirement for an equity contribution or upfront deposit.
• Documentation requirements are minimal, reducing delays during processing.
• Applicants must maintain a salary account with FirstBank for the entire duration of the loan facility.
• The loan offers a flexible repayment structure designed to suit the borrower’s income level.

How to Apply for Personal Loan against Salary

Applying for PLAS is straightforward. Interested applicants are required to gather a few basic documents before visiting a FirstBank branch such as:

• A completed Personal Loan Application Form, which can be downloaded online
• A valid means of identification such as a National Identity Card, Driver’s License, or International Passport
• An irrevocable salary domiciliation letter from your employer confirming that your salary will be paid into your FirstBank account for the entire loan period

Once the form has been properly completed, submit it alongside the required documents at the nearest FirstBank branch for processing

6. FirstMonie Agent Credit Loan

The FirstMonie Agent Credit Loan is a short-term loan provided by FirstBank to individuals or businesses registered on the FirstMonie Agent platform. These agents deliver banking services on behalf of the bank, and the loan is designed to help them manage temporary cashflow challenges.

Agents are eligible for a repayment plan ranging from 24 to 72 hours, depending on the timing and day of the loan. This facility is particularly useful when an agent’s account balance falls below the required liquidity, even if physical cash is available. The loan bridges the gap until the agent can credit their account again.

If your FirstMonie account is short of funds and you need money for online transactions, this short-term loan can be applied for quickly and efficiently.

This loan is exclusively available to FirstMonie Agents in Nigeria. Individuals or businesses officially enrolled and recognised by FirstBank. Non-agents or general POS operators are not eligible for this facility.

There are also specific requirements that agents must meet to access the FirstMonie Agent Credit loan.

Key Features

• Loan Amount: Up to 25% of your average daily credit turnover over the last three months, with a maximum limit of N1.5 million.
• Repayment Tenor: 24 -72 (weekdays 24hrs while weekend 72hrs)
• Account Requirement: Agents must have maintained a FirstBank account for at least 3 months.
• Interest Rate: 0.3% flat on the disbursed amount.
• Transaction Insurance: 0.1% per loan transaction.
• Keyman Insurance: N1, 000 per year.
• Minimum Loan: N20, 000.
• Eligibility Checks: Positive credit history and satisfactory KYC report are required.

How to Apply:

Login into the FirstMonie app. Select loan and follow the instructions.

Frequently Asked Questions 

Can I get a FirstBank loan without a salary account?

• Yes, FirstCredit does not require a salary account.

What is the FirstBank loan USSD code?

• The official code is *894#.

How fast is FirstBank loan approval?

• Digital loans are approved instantly.

Does FirstBank loan require a guarantor?

• No guarantor is required for digital or salary-backed loans.

Can I apply for FirstBank loan online?

• Yes, via USSD or the FirstMobile App.

What happens if I default on a FirstBank loan?

• Default attracts penalties and affects your credit score.

Conclusion

This article has explained the various FirstBank loan options and how to apply for each one, making it easier for readers to understand the available choices and access funding when needed. Most importantly, FirstBank offers digital and instant loan options that do not require collateral, as well as more comprehensive loan packages designed to support larger financial commitments and long-term investments.

By understanding the features and eligibility requirements of each loan type, you can confidently choose the option that best suits your financial needs.