FCMB Micro Loan is a convenient, paperless micro credit facility with no collateral required for your emergencies and urgent needs. It is an instant loan and the application is through our USSD code *329#.

Features & Benefits:

  • Instant access to funds
  • Up to N20,000 loan amount
  • No paperwork required, just apply through *329#.
  • No collateral needed
  • 30 days clean up cycle
  • Customer can apply as many times in a year as he is qualified.




Please read these terms and conditions carefully before accepting the offering. By accessing or using the service; “FCMB Microloan”, you agree to be bound by the terms and conditions stated herein. These terms and conditions are subject to changes and such changes shall be incorporated into the terms and conditions to be hosted on FCMB website from time to time.

IF you do not agree with these terms and conditions, please do not accept the loan offering or use this service.

BY going ahead to use this service you indicate that you unconditionally accept the terms of this agreement and you agree to abide by them.



1. The Borrower has applied to the Bank through Unstructured Supplementary Service Data (herein referred to as “USSD”) for a FCMB Microloan to meet urgent personal cash flow needs

2. The Bank has agreed to grant the Micro loan to the Borrower by way of principal outstanding

3. The Loan amount shall be made available by direct payment into borrower’s current or saving account with FCMB.



1. The Loan

The Bank hereby agrees to make available to the Borrower the sum to be disbursed (hereinafter referred to as “the micro loan”), after the borrower’s risk assessment and scoring has been carried out. The Borrower accepts the sum to be disbursed by the Bank and agrees to repay loan for a period not more than 30 days from the date of disbursement


2. Service Charge

2.1 There will be a flat charge of 15% which will be deducted upfront per disbursal


3. Payment

3.1 The Borrower agrees that the Bank shall have the right to deduct the amount owed in full directly from any credit cash flow (cash, cheque, transfer) into any of the Borrower’s accounts with the Bank, irrespective of the source and purpose.


4. Past Due Obligation Fee: If the Borrower fails to pay any amount which the Borrower owes the Bank in terms of this agreement on the due date of such amount, a penal fee of 1% flat per day on outstanding obligation shall apply.


5. Costs and Charges

5.1 The Borrower agrees that, if the Bank has to use lawyers, Debt Recovery Agents and/or other Consultant because the Borrower has not carried out any part of this agreement, the Borrower will have to reimburse to the Bank all the costs incurred.


6. Breach

In the event of

i. Any failure by the Borrower to pay any amount which is due in full as and when due;

ii. Any breach by the Borrower of the terms of this agreement or


 7. Authorization to comply

7.1. The Borrower agrees that the Bank is irrevocably authorized to comply with any instructions received on the Borrower’s behalf from his/her registered mobile number through the USSD and it is agreed that such Instruction shall be irrevocably deemed to be your Instruction.


7.2. Set off: By using the service, you agree to grant us an irrevocable authorization to issue open-ended direct debit mandates for all accounts you own now, or at any point in the future. In the event of default, you agree that the bank has your authorization to place a lien on every account you own now or at any point in the future, to recover any outstanding balance you owe us by the execution of the direct debit mandate.


8. Consent to share account information

The Borrower authorizes the Bank to access any information available and share with any third party for the purpose of accessing and scoring his or her loan request and permission to register details of the trend of the Borrower’s account with any partner of the Bank and the Borrower waives any claims he or she may have against the Bank in respect of such disclosure


9. Notices

10.1 The Borrower agrees to accept service of all notices, processes and any other communication relating to this loan through email address and/ or SMS to phone number registered on your account and hereby confirms these addresses as his/ her address for service. Therefore, Borrower also agrees that it is his/her responsibility to ensure that his/her contact details maintained with the Bank are valid.


10. Appropriation

11.1 All amounts received by the Bank will be first apportioned towards overdue penal charges/fees. Any balance left thereafter will be appropriated lastly towards the principal sum.


11. Indemnity

The Borrower agrees to fully indemnify the Bank against all costs and expenses (including legal fees, collection commission et cetera) arising in any way in connection with the Borrower’s accounts, these terms and conditions, in enforcing these terms and conditions or in recovering any amounts due to the Bank or incurred by the Bank in any legal proceedings of whatever nature.


12. Waiver

No forbearance, neglect or waiver by the Bank in the enforcement of any of these terms and conditions shall prejudice the Bank’s right to strictly enforce the same. No waiver by the Bank shall be effective unless it is in writing.


13. Assignment to Third Parties

The Bank reserves the right to assign this agreement to a third party without the permission of the Borrower.


14. Service Availability

14.1 Use of the Service may from time to time be unavailable, delayed, limited or slow due to, but not restricted to the following factors:

  • Force majeure
  • Industrial Strike Actions
  • Failure from hardware and software
  • system capacities overload
  • failure of or suspension of public or private telecommunication networks
  • power supply or other utilities interruption
  • government or regulatory restrictions, court or tribunal rulings, amendment of legislation or other human intervention
  • any other cause whatsoever beyond our control


14.2 The Borrower acknowledges and agrees that internet and telecommunications transmissions are never completely private or secure.

14.3 All content and services on or available through the Services are provided on an "as is" basis and we do not make any representation or give any warranty or guarantee in respect of the Service or its content.

14.4 We may discontinue or make changes in the Service at any time without prior notice to you and without any liability to you.


15. General Provisions and Conditions

15.1SMS alerts / notification charges incurred in relation to this loan shall be for the account of the borrower.

15.2 The Borrower irrevocably undertakes that for the period of this agreement, he or she will maintain his or her bank account designated for the purposes of the loan with the Bank.

15.3 In the event that the facility becomes due and unpaid, the Bank reserves the right to notify Embassies, High Commissions and foreign consulates, credit bureaus (both local and international) about the Borrower’s indebtedness.

15.4 The Borrower authorizes the Bank to access any information available to assess his or her application, and permission to register details of the trend of the Borrower’s account with any credit bureau, and the Borrower waives any claims he or she may have against the Bank in respect of such disclosure.

15.5 The Bank reserves the right to unilaterally review the facility including pricing, prepayment and past due obligation charge from time to time in the light of changing market conditions and also to terminate this facility based on any adverse information threatening the basis of this relationship or putting the facility at the risk of loss and where you (as borrower) are in breach of any of the terms and conditions of this facility.  You shall be notified of any decision taken in this respect.

15.6 The Borrower specifically and unequivocally waives any right to contest, challenge, protest or claim upon any subsequent amendments made by the Bank to the terms of this facility or any notification sent by way of e-mail or text message to the Borrower’s e-mail address or mobile phone numbers.

15.7 The terms and conditions of this banking facility are subject to the Banking and other applicable laws of the Federal Republic of Nigeria as prescribed from time to time and the jurisdiction of the Nigerian Courts.

15.8 The Bank does not make any representation or warranty as to the accuracy or completeness of any due diligence reports or other reports, documents, or credit analyses prepared, or caused to be prepared, by it in connection with its activities under this facility or otherwise.


I confirm that I have read, understood and agreed to the above terms and conditions. By using this service I indicate that I unconditionally accept the terms of this agreement and I agree to abide by these terms. I also agree that this agreement is in effect until I discontinue the use of the service and all financial obligations with regard to my use of the service has been fully fulfilled.