Firstmonie Agent Credit is an online borrowing solution created to offer a bridge by assisting our Agents in resolving liquidity issues brought on by low account balances, even when the Agents have access to real currency.
For a three-month period, the loan amount is 25% of the average daily credit turnover, up to a maximum loan of N1 million. The repayment tenor is 24 hours to 72 hours or the first working day of the week if the repayment enters weekends and holidays. First monie agent should know the following before applying for a loan:
- Agent must have had an account with FirstBank for at least three months.
- A flat interest of 0.3% is applied to the amount disbursed.
- 0.1% of each transaction is insurance.
- yearly Keyman Insurance of N1,000.
- N20,000 is the minimum loan amount.
- You should have a good credit check.
- Suitable KYC Report.
- Get N1 million or more to finance additional transactions.
- Access to funds prior to branch cash deposit.
- Easy accessibility and availability
- Income growth and business expansion.
The first monie platform lends you money to give to borrowers/consumers as an agent until you can repay back the loan into your account. Keep in mind that before you can obtain this loan, you must be a FirstMonie agent.
How can I apply for a FirstMonie Loan?
Do this to apply for a loan from FirstMonie:
- Simply download the application from the App Store or Google Play.
- Click “Get Loan Now” after logging in as a FirstMonie agent.
- Take out the maximum debt you are permitted to.
What is the highest and lowest loan amount I can get with FirstMonie?
Basically, the platform bases the amount of your loan on 25% of the average daily credit returns over the previous three months. The maximum loan amount allowed under this rule is N1 million, and the minimum loan amount is N20,000.
How Long Is a ForstMonie Loan?
FirstMonie offers loans with a brief term. If the loan was accepted on a weekday, the loan period is 24 hours, regardless of the loan amount. Additionally, the loan’s duration is increased to 72 hours if it was obtained on a weekend or holiday.
As long as you match the requirements, applying for a FirstMonie loan is very simple and easy to navigate. But keep in mind that only their representatives are eligible for this financing. Simply request the FirstMonie agent application form at the nearby First Bank office to register as an agent.