FCMB Offers Auto Loans Of Up To N30 Million

First City Monument Bank (FCMB) currently offers auto loans of up to N30 million at a reduced interest rate to encourage and simplify vehicle ownership for personal usage by millions of Nigerians. The car loan facilitates the purchase of new and used vehicles (popularly known as “Tokunbo”), with N500,000 as the minimum loan amount that a customer can obtain for a repayment period of up to 5 years.

Mr. Shamsideen Fashola, Divisional Head, Personal Banking of the Bank, commented on the unique value proposition, saying, “We created a value proposition that is flexible, convenient, and empowers individuals, families, and businesses to achieve the dream of vehicle ownership.”

“Nigerians can now finance their dream vehicle with a low-interest auto loan from FCMB, with monthly or yearly payment options based on their income.”

“As a result, we urge the general public, including but not limited to salaried individuals, to take advantage of this opportunity to realize their dream of owning a vehicle.”