FIRST CITY Monument Bank has now offered up to a car loan of up to N30m at a reduced interest rate to encourage and facilitate car ownership for Nigerians.
The statement said the FCMB car loan would support the acquisition of brand new and pre-owned vehicles (commonly known as Tokunbo) for N500,000 as the minimum loan amount a customer can afford in a five-year repayment period.
This reaffirmed the FCMB’s commitment to improving the social well-being of individuals and improving access to credit at the highest level of family life, the statement said.
Commenting, the Head of the Division, Personal Banking, FCMB, Mr Shamsideen Fashola, said, “Car ownership is one of the most exciting times in a person’s life. However, many people find it difficult to save long enough to make this dream a reality.
“To close this gap, we have made a flexible, flexible and cost-effective proposal that empowers individuals, families and businesses to achieve the dream of car ownership. Nigerians are now able to finance their dream car with a car loan from FCMB at low interest rates with monthly or annual payment options depending on their income.
“Therefore, we urge the public, which includes, but is not limited to, the people in charge, to use this opportunity to achieve their dream of ownership of cars.”
The statement said the FCMB Auto Loan would empower Nigerians to finance the purchase of new and former vehicles while distributing payments within one to five years.