FCMB – online loan Nigeria
FCMB personal loans from ₦50,000 to ₦2,000,000 at 4% monthly.
Applying does not commit you to a loan agreement.
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FCMB – Personal and Salary Loans Nigeria
First City Monument Bank (FCMB) is one of Nigeria's leading full-service commercial banks, providing retail banking, SME banking, and corporate finance solutions. Established in 1982 and listed on the Nigerian Exchange Group, FCMB operates over 200 branches nationwide. The bank is part of the FCMB Group Plc and offers a wide range of credit products including personal loans, salary advance loans, overdraft facilities, and SME financing. FCMB is particularly known for its inclusive finance approach and strong presence in key commercial cities.
FCMB personal loans are available to salary earners and self-employed professionals. Amounts typically range from ₦50,000 to ₦5,000,000 with repayment terms of 3 to 48 months. Monthly interest from 4% applies and applicants should have their salary domiciled at FCMB for at least 3 months. Applications can be made via the FCMB Mobile app, online banking, or at any FCMB branch. Salary advance loans are processed within 24 hours while term loans may require 2 to 4 working days for documentation review.
FCMB is licensed by the Central Bank of Nigeria (CBN) and is a member of the Nigerian Deposit Insurance Corporation (NDIC). FCMB is a good option for salary earners who prefer dealing with a well-established bank. New-to-bank customers may also apply but will need to provide additional documentation to support their application.
✓ Pros
- Reputable commercial bank with 200+ branches
- Personal loans up to ₦5,000,000
- Flexible repayment up to 48 months
- NDIC insured deposits
- Quick salary advance in 24 hours
✗ Cons
- Salary domiciliation required for best rates
- Longer processing for term loans (2-4 days)
- May require additional docs for non-salary earners
Loan example
Representative example: A personal loan of ₦500,000 over 18 months at 4% monthly interest. Monthly repayment approximately ₦35,154. Total repayable: ₦632,772. Total interest: ₦132,772.
Loan requirements
- ✓ Active FCMB account (or willing to open one)
- ✓ 3 months salary domiciliation
- ✓ Valid ID
- ✓ 3 recent payslips
- ✓ 6-month bank statement
- ✓ BVN
Loan features
- Personal and salary advance loans
- Loans from ₦50,000 to ₦5,000,000
- Terms 3 to 48 months
- Interest from 4% per month
- Online and branch application
- CBN licensed
Frequently asked questions
24 hours after submitting your application.
The minimum amount at FCMB is ₦50,000.