Nigeria’s FastCash Celebrates 2m Personal Loans Worth N59bn

FastCash, the fastest-growing instant loan solution in Nigeria, has announced its two millionth loan disbursement. 

FastCash in a statement said all the loans disbursed are worth N59 billion and have helped customers from different walks of life meet urgent financial needs and achieve their short-term objectives.

Commenting on the achievement, the Divisional Head, Personal Banking of FCMB, Mr Shamsideen Fashola, said, “the amount of trust placed in FastCash by our customers is humbling. We will continue improving on this product to deliver exceptional customer experience. The success we have achieved thus far is a testament to our commitment at FCMB to support our customers through financial technology products that are convenient and accessible.”

Launched by First City Monument Bank (FCMB) in 2018, FastCash is a personal digital loan product that makes credit up to N200,000 available to existing customers and non-customers of the Bank in less than five minutes. 

In addition to FastCash, FCMB also offers a Salary Plus Loan, a consumer credit scheme available to salary account holders. Through this scheme, qualified FCMB customers can access short or medium-term funding before salaries to meet urgent needs, such as school fees payment for their children. Existing customers on Salary Plus can also top up their loans when they require additional financial support. In vast numbers, Nigerians have adopted FastCash and SalaryPlus.