First Bank Personal Loan – review 2026

Name: Recenze First Bank Personal Loan
Item: First Bank Personal Loan
Rating: 3.9
Author: Finatino.com

3,9 / 5

First Bank of Nigeria is one of the oldest and most established commercial banks in the country. Their personal loan products cater to salary earners and professionals with accounts at the bank, providing consumer finance for a range of personal needs.

Pros

Established institution with over 130 years of operation in Nigeria
Competitive rates for existing FirstBank salary account holders
Loan amounts from ₦50,000 accommodate small and medium borrowing needs
Wide branch and agent banking network across all 36 states
Transparent loan terms disclosed before signing

Cons

Processing can take 72 hours or longer due to documentation requirements
Salary account at First Bank generally required for best loan terms
Online application still requires branch follow-up for many loan types
Credit Bureau negative record significantly reduces approval chances
Higher interest rates for non-salary customers compared to bank customers

Requirements

First Bank salary or current account
Proof of employment and monthly income
Valid ID and BVN
Minimum 6 months of employment with current employer
Completed application form with supporting documents

Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.