First Monie Loan has become pretty popular in the finance sector in Nigeria today. A lot of people are now enjoying the first monie loan service and this has become pretty handy in many businesses in Nigeria.

In this article, we're going to talk about what a first monie loan is, how to secure a first monie loan, and the requirement of a first monie loan.

With  Firstmonie loan, the entire process of borrowing money has been simplified. As a first money agent you can now borrow money with just some few clicks.

With this guide you'll understand how to borrow money in just few steps as a first monie agent in Nigeria without having to leave your comfort zone.

Without wasting much time, let us dive into today's topic of discussion.

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What Is First Monie Loan ( Undertsanding how to borrow money instantly from firstmonie)


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What Is First Monie?

FirstMonie is a product and service of First Bank Nigeria. The service allows agents to borrow money from their firstmonie account most especially agents with no access to first bank around them. The whole idea behind the product/service is to ensure that customers living in an unbanked or underbanked areas can access financial services. This means that whenever customers visit an agent to make any transaction, the agent will not tell them that cash has finished from their firstmonie account.

What Is First Monie Loan?

The Firstmonie Loan is a type of loan which is also reffered to Firstmonie Agent Credit. This type of loan is accessable to only firstmonie agents.

The loan platform is more of a digital lending solution that is designed to help Firstmonie agents to solve liquidity problems that may arise as a result of depleted account balances, even when there is physical cash at hand.

All the agents of the Firstmonie digital lending platform have exclusive access to the loan offer pending cash lodgment at any nearest First Bank Branch.

The lending platform loans the agent money in other to service customers pending when the agent deposits the cash at their disposal to the bank. This exclusive offer is only available to Firstmonie agents not customers.

How To Get A Loan From FirstMonie

In other to get a loan from FirstMonie, you must perform the following:

  • Visit Google Playstore to download the first monie app or you can visit the appstore if you are an iOS user.
  • Open the application and start your registration process as a firstmonie agent and click on "Get Loan Now"
  • Borrow the amount of money you're eliigible to borrow. 

What Is The Interest Rate and Loan Tenor For FirstMoney Loan?

The first monie agent loan has a loan tenor of just 24 hours during week days. However, the platform gives a grace of 72Hours in case the agent faces some delays and challenges and this applies for weekends and public holiday only. The interest rate for the loan amount is 0.3% plat on any amount disbursed to the agent. 

Eligibility Requirement For Firstmonie Loan.


There are certain eligibility criteria an agent must meet for them to have access to the firstmonie loan. Below are the criterias

  • Agent must have an account with firts bank that is fullt operation for 3 months and an above.
  • Agent must have a clean credit recod.
  • Agent must be active as an agent with firstmonie for atleast 3 month to qualify
  • Agent must have a minimum of 50,000 Naira as a startup capital
  • Having a satisfactory KYC report is mandatory
  • Have valid means of identification (Voter’s card/NIN/Driver’s License, National ID card/International Passport).

How To Contact First Monie


Incase you're having challenges while working and it is a technical thing beyond what you can handle, you can contact the firstmonie from this details:

Head Office Address: First Bank of Nigeria Ltd. Samuel Asabia House, 35 Marina P.O. Box 5216, Lagos, Nigeria.

Phone Number: +234 1 905 2326, +234 708 062 5000, +234 1 448 5500



Conclusion

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