Last updated on December 5, 2025
Feeling a bit strapped for cash or need a quick boost to reach a financial goal in Nigeria? It’s a common situation, and thankfully, First Bank of Nigeria offers a variety of loan options designed to help.
Whether you need a small advance or something bigger, they’ve got solutions.
You’re probably wondering, “What’s the First Bank Loan Code – How Can I Borrow Money From My First Bank Account? ” For instant digital loans, the primary USSD code is often *894#, with specific services like FirstAdvance accessible via *894*11#.
This guide will walk you through all the ways you can access funds, from these instant digital options using a USSD code or mobile app to more traditional financing for big purchases.
Key Takeaways: Your Quick Guide to First Bank Loans
Navigating loan options can feel a bit overwhelming, so we’ve put together a quick summary of what First Bank offers. You’ll find both digital and traditional ways to get the financial support you need. These options are tailored for different financial needs right here in Nigeria.
Here’s a quick look at some of the main loan types and their primary application methods. This overview will help you quickly understand how to borrow money from your First Bank account in simple, practical terms.
| Loan Type | What It’s For | Primary Application Method(s) | Key Benefit |
|---|---|---|---|
| FirstAdvance | Instant salary advance for emergencies or urgent needs. | USSD Code (e.g., *894*11#), FirstMobile App | Quick access to funds, digital convenience. |
| FirstCredit | Small, short-term loans without collateral. | USSD Code (*894# menu), FirstMobile App | Collateral-free, fast processing. |
| Personal Home Loans | Buying or building a home. | Branch visit, documentation. | Long-term financing for homeownership. |
| Automobile Loans | Financing a brand new car. | Branch visit, documentation. | Structured repayment for vehicle acquisition. |
| FirstEdu Loan | Support for private educational institutions. | Branch visit, documentation. | Funding for school development and operations. |
Understanding First Bank’s Diverse Loan Offerings in Nigeria
First Bank understands that people in Nigeria have diverse financial needs. That’s why they offer a wide range of loan products, from small, quick digital advances to larger, more structured loans for big life goals. It’s all about finding the right fit for you.
Their loan portfolio covers everything from immediate cash needs to helping you buy a car or even a home. These services are specifically designed with Nigerian customers in mind, making financial support accessible. Let’s dive into some of the specific options available.
FirstAdvance: Your Instant Salary Advance Solution
If you’ve ever found yourself needing a bit of extra cash before your next payday, FirstAdvance is likely what you’re looking for. It’s one of First Bank of Nigeria’s most popular digital loan products, offering a quick salary advance to help cover unexpected expenses.
This loan is very convenient for many.
You can get a FirstAdvance loan application processed quite fast, and the funds are disbursed directly to your account. It’s designed for salaried workers whose accounts are domiciled with First Bank, making it a reliable solution for urgent financial needs in Naira.
You typically have about 30 days to three months to repay, depending on the option you choose.
FirstAdvance Features & Benefits (2025)
Let’s look at what makes FirstAdvance such a practical choice for many Nigerians. The features are straightforward, aiming to give you fast access to funds when you need them most. It’s a handy tool for managing your personal finances in Nigeria.
The loan also comes with clear terms regarding repayment, which is typically a direct debit from your salary. Plus, there’s usually a credit life insurance component, offering a bit of extra peace of mind.
| Feature | Details |
|---|---|
| Loan Amount | Up to 50% of your net monthly income, or up to N500,000 (whichever is lower). |
| Tenor | Typically 30 days, or up to 3 months for some variants. |
| Interest Rate | Competitive rates apply; usually around 2.5% per month, plus a 1% management fee. |
| Eligibility | Salaried individual with a First Bank account, salary domiciled with First Bank for at least 6 months, and a positive credit history. |
| Repayment | Direct debit from your salary account. |
How to Apply for FirstAdvance via FirstMobile App
Applying for FirstAdvance through the FirstMobile App is incredibly easy and a smooth experience. If you have a smartphone, this is a convenient way to get your loan quickly. Make sure you have the app downloaded from your phone’s app store.
First, open the FirstMobile App on your phone. Then, log in using your user ID and transaction PIN. Once you’re in, look for the ‘Loans’ or ‘FirstAdvance’ option in the menu and follow the simple on-screen prompts to complete your FirstAdvance loan application.
Applying for FirstAdvance with the First Bank USSD Loan Code (*894*11#)
Don’t have internet access or prefer a simpler method? The First Bank USSD loan code is a fantastic option for quick loans in Nigeria. This method lets you borrow money right from your phone, no smartphone or internet needed.
It’s very convenient for many people. To apply, simply dial *894*11# from the phone number linked to your First Bank account. Follow the menu prompts that appear on your screen, inputting your transaction PIN when required.
This code will guide you through the FirstAdvance USSD application process. You’ll typically receive a notification about your eligibility and loan offer pretty quickly, often within minutes.
FirstCredit: Quick, Collateral-Free Loans
Another great option for smaller, quicker loans is FirstCredit. This product is designed for those who need financial help but don’t have collateral to offer. It’s an accessible way to get a loan without the extra hassle.
FirstCredit offers a simple and fast solution for immediate financial needs. It’s usually a short-term loan, typically with a 30-day tenor. Eligibility often hinges on your BVN and maintaining a decent credit history with the bank, demonstrating your financial responsibility.
FirstCredit Key Features & Application (2025)
If you’re looking for a quick, collateral-free loan First Bank offers, FirstCredit is definitely worth considering. It’s built for speed and simplicity. Here are the main things you need to know about it.
You can apply for FirstCredit using either the USSD Banking code or through the FirstMobile App, similar to FirstAdvance. This makes it super convenient for most customers.
| Feature | Details |
|---|---|
| Loan Amount | Up to N50,000 (may vary based on credit score and bank assessment). |
| Tenor | Typically 30 days. |
| Interest Rate | Competitive rates apply; usually a flat fee or percentage for the tenor. |
| Eligibility | Active First Bank account with good transaction history, positive credit bureau report, and a valid BVN. |
| Application | Via USSD code (*894#) or FirstMobile App. |
Beyond Digital: Other First Bank Loan Products
While digital loans like FirstAdvance and FirstCredit are fantastic for quick needs, First Bank also provides more traditional loan offerings. These are perfect when you’re looking to make larger investments like buying a home, getting a new car, or even funding an educational institution.
These loans require a bit more documentation but open doors to significant financial support.
These bigger loans are tailored for major life milestones and business ventures in Nigeria. They offer structured repayment plans and typically come with more substantial amounts. Let’s explore some of these important options.
Personal Home Loans (Mortgage) & Joint Mortgage
Owning a home is a big dream for many Nigerians, and First Bank can help make that a reality with their Personal Home Loans. Whether you’re buying your very first house or building one from scratch, they have options to support you.
They even offer a Joint Mortgage if you’re buying with a partner.
Typically, you’ll need to make an equity contribution, which is a percentage of the property’s value, often around 10-30%. The repayment period can be quite long, sometimes up to 20 years, provided it doesn’t extend beyond your retirement age. It’s a significant commitment, but a rewarding one.
| Feature | Details |
|---|---|
| Purpose | Acquisition, construction, or renovation of residential property. |
| Loan Amount | Determined by property value, your income, and equity contribution. |
| Tenor | Up to 20 years (subject to retirement age). |
| Equity Contribution | Usually 10% to 30% of the property value. |
| Eligibility | Salaried or self-employed individuals with verifiable income, good credit history, and ability to meet equity contribution. |
First Bank Automobile Loans
Dreaming of driving a brand new car? First Bank Automobile Loans can help you finance that purchase. This loan is specifically designed for acquiring new vehicles, making it easier to get around Nigeria in style and comfort.
It’s a structured way to handle vehicle finance in Nigeria.
You’ll typically need to provide a proforma invoice for the vehicle you want to buy. The bank will often require salary domiciliation if you’re a salaried worker, ensuring smooth repayments. Like home loans, there’s usually an equity contribution required from you.
| Feature | Details |
|---|---|
| Purpose | Financing the purchase of a brand new vehicle. |
| Loan Amount | Up to 80% of the vehicle cost. |
| Tenor | Up to 48 months (4 years). |
| Equity Contribution | Minimum of 20% of the vehicle cost. |
| Eligibility | Salaried individuals with a consistent income, a good credit record, and the ability to make the equity contribution. |
FirstEdu Loan: Supporting Educational Institutions
For private school owners in Nigeria looking to expand or improve their facilities, the FirstEdu Loan is a specialized product. It’s designed to support the growth and development of educational institutions, which is crucial for the future. This is a targeted approach to education finance in Nigeria.
To be eligible, your school typically needs to be registered with the Corporate Affairs Commission (CAC). The loan can help with things like building new classrooms, upgrading equipment, or even managing operational costs. A key requirement is often the school fees domiciliation with First Bank.
| Feature | Details |
|---|---|
| Purpose | Financing for private educational institutions (e.g., expansion, asset acquisition, working capital). |
| Loan Amount | Up to N20 million (may vary based on school turnover and repayment capacity). |
| Tenor | Up to 24 months. |
| Eligibility | CAC-registered private schools with a track record of at least 3 years, satisfactory account operation, and school fees domiciliation with First Bank. |
| Security | Often requires personal guarantee of proprietors, liens on assets, and domiciliation of school fees. |
General Eligibility and Important Considerations for All First Bank Loans
No matter which First Bank loan you’re eyeing, there are some general things they’ll always look at. Understanding these can help you prepare and increase your chances of approval. This is all about responsible borrowing, which is a key part of financial literacy.
A crucial step is having a valid BVN (Bank Verification Number), as this is used to verify your identity and credit history across all Nigerian banks. Maintaining a positive credit history in Nigeria is also very important; it shows the bank you’re reliable when it comes to repaying debts.
Always make sure your account details are up-to-date and your transactions are consistent.
Common Mistakes to Avoid When Applying for a First Bank Loan
Applying for a loan can sometimes feel a bit tricky, and it’s easy to make small errors that could delay your application or even lead to rejection. Paying attention to these common mistakes can save you a lot of stress.
Good financial planning in Nigeria starts with avoiding common pitfalls.
One common mistake is not fully understanding the loan terms before applying. Make sure you read all the small print about interest rates, repayment schedules, and any fees involved. Another big one is having an inconsistent transaction history or a low credit score, which can make banks hesitant to lend.
Always ensure all your documents are complete and acpick to avoid unnecessary back-and-forth. Double-checking these details can significantly smooth out your application process.
Frequently Asked Questions (FAQs) About First Bank Loans
Got more questions about borrowing from First Bank? Here are some quick answers to common queries people often have. These should clear up any lingering doubts about getting a loan from First Bank.
Can I get a loan from First Bank without collateral?
Yes, you can! Loans like FirstCredit and FirstAdvance are designed to be First Bank loans without collateral. They are usually based on your income and banking history.
What is the processing time for First Bank loans?
Digital loans like FirstAdvance and FirstCredit are usually processed almost instantly, sometimes within minutes, if you meet the eligibility criteria through USSD Banking or the FirstMobile App. Larger, traditional loans take longer due to documentation and verification.
How can I check my loan eligibility with First Bank?
For digital loans, simply dial the USSD code like *894*11# or check the FirstMobile App to see your pre-qualified offer. For other loans, visiting a First Bank of Nigeria branch is the best way to discuss your eligibility with a loan officer.
What happens if I can’t repay my loan on time?
It’s very important to communicate with First Bank if you anticipate any difficulties in repaying your loan. Late repayments can affect your credit score, making it harder to get loans in the future. They might work with you on a revised payment plan.
Conclusion: Your Path to Financial Support with First Bank
As you can see, First Bank of Nigeria offers a diverse range of loan products to suit almost any financial need you might have.
From instant digital advances like FirstAdvance accessed through the First Bank Loan Code or the FirstMobile App, to more substantial financing for homes or cars, they truly have you covered. Their commitment to financial support in Nigeria is evident in these offerings.
Taking that next step towards securing your desired loan can feel daunting, but with the right information, it becomes much clearer. We hope this guide helps you feel more confident about how to get a loan from your First Bank account.
Don’t hesitate to reach out to First Bank directly for personalized advice.
Important note
This article is for general educational purposes only and is not financial advice. Talk to a licensed professional before making major money decisions.
