FIRST CITY Monument Bank has said it now offers auto loans of up to N30m at a reduced interest rate to encourage and simplify vehicle ownership for personal use for Nigerians.
A statement said the FCMB auto loan would support acquisition of brand new and pre-owned vehicles (popularly known as Tokunbo) with N500,000 as the minimum loan amount that a customer could access for a repayment duration of up to five years.
This affirmed FCMB’s commitment to improving the social well-being of individuals and enhancing access to credit for higher standard of living for families, the statement said.
Commenting, the Divisional Head, Personal Banking, FCMB, Mr Shamsideen Fashola, said, “Vehicle ownership is one of the most exciting moments in a person’s life. Yet, many people struggle to save up for a long time to make this dream come true.
“To bridge this gap, 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 an auto loan from FCMB at a low-interest rate with monthly or yearly payment options depending on their income.
“We, therefore, urge the populace, including, but not limited to salaried individuals, to take advantage of this opportunity to fulfil their vehicle ownership dream.”
The statement said FCMB Auto Loan would empower qualified Nigerians to part-finance the purchase of brand-new and pre-owned vehicles while spreading the repayment between one and five years.
