Interest Rate  (6% – 30%)




First city monument bank limited (FCMB) commenced business in august 1983. It took over most of the capital market activities of city securities limited (CSL), the successful finance and investment institution founded in 1977 by Otunba M.O. Balogun. The bank was incorporated with an initial capital of ₦2 million.


  • Salary Advance – The FCMB salary advance gives you advance access of your net monthly salary for a maximum period of 12 months. It provides employees with quick funds. No documentation or collateral required. The interest rate is dependent upon your employers rating.
  • Mortgages – Their mortgage product is designed to provide financial support for the acquisition ready properties and properties under construction. It is available to salary earners and business entrepreneurs with properties in Lagos, Abuja, and Port Harcourt. There is a Minimum of 30% equity contribution for up to 10 years tenor.
  • Vehicle – This loan product allows customers to acquire new vehicles in a financially convenient manner. It is open to salaried income persons, SMEs and Corporates with an equity contribution as low as 10% of invoice value. The tenor is up to 48 months.
  • Education – Their school fees loan is designed to provide parents/guardians with short–term financing to cover tuition fees for their children/wards, as well for financing of undergraduate study, postgraduate study and professional examinations.
  • Asset Financing – They provide the loan for the acquisition of new equipment and business assets to improve business productivity.


Salary Advance

  • Confirmed employee of FCMB rated companies.
  • Salary domiciliation during the tenor of the loan.
  • Minimum net monthly income of N18,000.00
  • Employee must receive at least 1 salary payment in FCMB prior to the loan disbursement.


  • Completed Vehicle Lease Application Form
  • Pro forma invoice from any of the Bank’s approved vendors
  • Credit Checks
  • Blank transfer of ownership Form


  • Completed Mortgage Application Form
  • Employee Status Inquiry/Employer’s Confirmation Form
  • Letter of offer from the property seller
  • Title document of the property
  • Valuation report from any of the Bank’s approved estate valuer
  • Search report
  • Credit checks


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