Business

How FirstBank is helping salary account holders to dream big

Published

4 years ago

April 6, 2022

FirstBank - Reaping the Benefits of a Solid Legacy

How FirstBank is helping salary account holders to dream big.

Loans are meant to provide individuals or organizations with additional money to cover their expenses and other obligations—It is then paid back over an agreed period of time, with interest. Personal loans and salary advance loans are the most popular offerings. While the former is an instant loan given to individuals following verification, the latter is usually extended to salaried professionals. But even though personal loans tend to cost less because they have longer-term lengths, there are still a few factors to consider before deciding what option works best for you.

According to a report by Bankrate, some of the top reasons why people get personal loans include emergencies, relocation purposes, debt reconciliation, payday loans, and other celebratory costs. Depending on why you’re taking a loan, it’s important to decide the amount based on whether you have a monthly budget for principal payments plus interest. If it’s an emergency you need money for, a salary advance loan may favor you better than payday loans because it is quicker and doesn’t involve middlemen. Nonetheless, personal loans are a very good option when it comes to vehicle financing or acquiring new gadgets. This is because, in the long run, taking out a loan means you can still build a savings portfolio for rainy days.

With rising inflation figures in countries like Nigeria (15.63%), salary earners are in fact heavily affected. Despite a steady flow of income, they face difficulties in meeting certain obligations or recurring bills. Sadly, the reality is that most Nigerians would rather borrow from friends and family than take a loan. This is largely because of high-interest rates, an inability to meet certain requirements, and the fear of harassment from digital lenders who use shame tactics to recover loans.

In order to bridge this gap, Nigeria’s foremost financial institution, First Bank of Nigeria Limited (FirstBank) offers its customers better and simpler alternatives through a variety of loan products. The bank is also creating opportunities for millions of salary earners to dream big by harnessing the full potential of their accounts.
Here’s a breakdown of its loan plans
FirstAdvance, as the name implies, helps you attend to financial obligations that may come up before salaries are paid. This plan offers a maximum amount of ₦500,000, depending on the average of the applicant’s salary over the course of 3 months. However, customers are required to have an active salary account domiciled with First Bank, with proof of regular salary payment. The cash loans for payroll customers have an interest rate set at 2.5% flat, collected upfront, and can be accessed via the bank’s FirstMobile app, and by dialing *894*11# or *894#.
FirstCredit is the most flexible plan which allows you to access quick and simple loans without any collateral or documentation. Customers can apply for loans as high as ₦300,000 using a mobile phone or tablet. But there’s a catch. The account must have been operational in First Bank for at least 6 months, alongside a good credit record. FirstCredit has an interest rate of 10% flat. Here’s how it works in a few easy steps:

Dial *894#

Select Loans

Select FirstCredit

Select Get New Loan#

Select the account number with which you want to apply for the loan

Grant data usage consent and accept terms and conditions

You will be presented with 4 loan amount options

Choose your desired loan amount

The loan is disbursed into your account

FirstBank’s Personal Loan Against Salary (PLAS) is an upgrade to its First Advance offering. In addition to providing the funds to cater to pressing issues that may arise, this plan allows customers to hit their other long-term targets and goals. For instance, capital projects, rent obligations, vacations, professional courses, and other fulfilling ventures. According to the bank, with PLAS, Nigerian salary earners can be assured of a funding partner to fulfill their dreams. Using this plan, salary account holders can access up to ₦30 million and pay back the loan over a period of up to 36 months, subject to a retirement age of 60 years and a flexible repayment plan. To apply you will need the following documents:

Application letter

Personal Loan Application form

Payslip

Statement of accounts

Applicant’s letter of total emolument

Confirmation of applicant’s employer on FBN’s approved list

Letter of irrevocable domiciliation of salary for the duration of the facility.

Complete the form and submit it at the nearest First Bank branch.

FirstBank is heavily invested in easing the pressure on customers when meeting their immediate and medium-term financial goals. The vision behind its salary advance loan (FirstAdvance) is to ensure that customers aren’t being charged high-interest rates or forced to submit more collateral. Its PLAS plan offers flexibility, and good interest rates, and helps to boost the customer’s credit score. It also doesn’t require as much paperwork since the process is carried out online.

The bank additionally boasts of strategic services and incentives targeted at giving customers the best experience. For instance, its salary account benefits include a zero opening balance and no minimum daily operating balance or AMC charge. Customers also get their first Verve or Mastercard issuance for free with unlimited access to consumer loans.

Culled from Tech Cabal

Related Topics:Banking and finance Featured firstbank

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ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

Published

1 day ago

April 25, 2026

Sahara Weekly

ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom”

The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.

The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.

ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.

Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.

By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.

The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.

As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.

Business

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status

Published

2 days ago

April 24, 2026

Sahara Weekly

***PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status**

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

Thank you.

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Published

2 days ago

April 24, 2026

Sahara Weekly

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

Speaking on the collaboration, the Laffmattazz team stated:

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

⸻

About Laffmattazz

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

About First Bank of Nigeria Limited

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.