First Bank Loan 2023: How to Apply for First Bank Loan in Nigeria

On this page, you will discover how to apply for an approved loan from First Bank Nigeria (First Bank Loan).

Have you been searching for how you can request and get an approved loan grant from First Bank of Nigeria? Or maybe, you are searching for latest loan offers provided by Nigerian banking institutes? We are just so glad you made it to this page as we will be talking about all you need to know in relation to getting a loan offer from First Bank Nigeria.

Till then, let’s get to know a little about FBN below before proceeding to their loan application process.

About First Bank of Nigeria (FBN)

First Bank of Nigeria (FBN) is one of Nigeria’s first, trusted and reliable banks in the country. They have been in existence since 1964 with over 400,000 customers and 50,000 employees. Not just that, first bank of Nigeria can boast of having over 400 branches across all regions in Nigeria.

Since their establishment in Nigeria, they were licensed under the Central Bank of Nigeria (CBN) to carry out financial services to Nigerians within their jurisdiction.

This alone should get you interested in their services because, they are sure experienced in all they do as perfection is involve in most of their services.

First Bank Loan 2023

Just like any other bank in Nigeria, First Bank of Nigeria (FBN) offers loan to all their customers (employed and non-employed). As long as you are a customer with First Bank, you sure are entitled to right of loan request and as well right to loan grant.

Though not all loan requests are accepted by First bank and that is why we are here to put you through on how you can request for a First Bank loan and get approved within 20 minutes.


Following our guide, you can apply for loan today and get approved within 20 minutes. See below for some of the top loan types offered by First Bank of Nigeria.

Types of Loan offered by First Bank of Nigeria

  • Personal loan
  • Student loan
  • Business loan
  • Agriculture loan

First Bank Loan Requirements

Here are the required details you need to have before you can request for a loan from First Bank.

  1. Active First Bank Account number
  2. BVN number
  3. Valid government issued ID card (not necessary in most case)

First Bank Loan Application Methods

Basically, there are 2 ways or methods which can be used to request for a loan and get approved within 20 minutes from First Bank of Nigeria. These 2 methods include;

  • Loan application via USSD code
  • FBN loan application using mobile application

For better understanding on how to apply for First Bank of Nigeria (FBN) loan, we will be making use of the two loan application methods to educate you on how to request for a loan offer. See below for detailed instructions.

How to Apply for First Bank Loan Using USSD Code

To request for a loan from First Bank of Nigeria using USSD code, all that is required of you is to follow below instructions

  • Open your mobile dialer (button phones can skip this step)
  • Dial *894# or *894*11# from your phone with your registered First Bank phone number
  • Reply with “3” to select “First-Advance” option
  • Accept loan advance terms by replying with “1” (this will take you to loan request landing page)
  • The next menu shows you eligible loan amount for your account you can apply to.
  • Here you input your desired loan amount and send
  • Interest rate, management fees and insurance will be displayed next
  • Now you input your 5 digit First Bank transaction PIN to confirm it’s you to accept terms and condition.
  • Requested loan amount will be disbursed into your salary account within few minutes and after that;
  • Your account will be deducted with stipulated management fee, interest rates, insurance and VAT as upfront fees and charges.

How to apply for a Loan from First Bank using Mobile Application

This application method is even more convenient as you won’t have to be in a hurry. However, you will need to have the mobile app for IOS or Android installed on your device to being. Follow our guide below to successfully apply for FirstAdvance Loan by First Bank

  • Download the latest First Bank mobile app on Playstore or App store
  • Login with your banking details on the mobile app
  • Open the menu option located at the top left corner of the mobile app when you are logged in
  • Scroll down and select “LOAN” option
  • Next you select “FirstAdvance”
  • The next menu will show you loan amount you are eligible to request and the application pricing and interest rates.
  • Now you should accept loan terms and conditions if you are okay with it
  • Here you can input your desired loan amount but make sure is not more than the eligible about shown to you on the previous page
  • Input your transaction PIN
  • You should receive a success message and loan will be disbursed to your salary account within few minutes
  • Your account will be deducted with stipulated management fee, interest rates, insurance and VAT as upfront fees and charges.

Following either of your methods (USSD or Application) listed above will get your loan approved and deposited to your Fist Bank account within 20 minutes. Afterwards, you can go ahead to make usage of the loan you requested.

How to Pay Back Your First Bank Loan after Due Date

The loan repayment method is automated which means you won’t have to take any action. The loan amount send to your account will be automatically deducted immediately when the servicing is due.

What if I don’t have money in my account when its due date

When your loan is due and there is still not enough balance in your parent account, you will receive a sms from First Bank informing you to fund your account. The loan will be deducted immediately your account is funded.


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