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First Trader Solutions (FTS)

The First Trader Solution is a short-term overdraft facility offered to traders in pre-approved market locations and supermarkets who deal in fast moving goods. It comes in two variants; the Main FTS (180-day variant) and the Exceptional FTS (90-day variant).

Features

  • Available to Traders that deal in Fast Moving Goods
  • Tenor is either 90 Days or 180 Days
  • Minimum Loan Amount is N5M
  • No collateral is required for the 90 Days Variant
  • Collateral for the 180 days variant shall be equitable mortage on shop title documents to cover 200% of the facility amount.
  • Requires opening of a charged Savings account with opening amount of 5% of the facility amount. There will also be subsequent deposits as shown below:

A) 0.5% of the loan amount daily through out the tenor of the 180days facility.
B) 1% of the Loan amount daily through out the tenor of the 90 Days facility.

Benefits

  1. Provides opportunity for increased business turnover/volume through injection of additional funds.
  2. Steady build-up of funds which can be used to either pay back the loan or plough back to the business upon liquidation of facility
  3. Easy repayment plan
  4. No tangible collateral required

FAQs

Question: What is First Trader Solution (FTS)?
Ans: The First Trader Solution is a short-term overdraft facility offered to traders in pre-approved market locations who deal in fast moving goods.

 

Question: What is the tenor for FTS?

Ans: Tenor is either 90 days or 180 days

 

Question: What collateral deposits is required to access FTS?
Ans: No collateral is required for the 90 days variant. Collateral for the 180 days variant shall be equitable mortgage on shop title documents.

 

Question:  What is the maximum amount accessible on FTS?

Ans: Maximum loan amount is N5Million subject to a maximum of 15% of average annual credit turnover or 60% of quarterly credit turnover

Question: Where can FTS request be made by customer?

 Ans: Request can be made at any First Bank branch within 5km distance to the business location.

 

Question: What is required to access FTS loan?
Ans: Applicant must have been in current account relationship with First Bank or any other reputable Bank for at least 12 months and have a good credit history. Also, daily sales proceeds should be domiciled to their First Bank account.

Question: What is the pricing of FTS loan offered to traders by First Bank?

Ans: Pricing is competitive

 Question: Will an applicant be required to make an equity contribution when applying for FTS loan?
Ans: No

Question: Can an applicant have more than one FTS loan running simultaneously?
Ans: No

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FirstBank Privacy Policy for IBM DNA E-Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the IBM DNA learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by IBM through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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The following rights are available to you under this policy:

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FirstBank Privacy Policy for Roducate

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Roducate learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Roducate through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

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E-Learning Roducate Registration

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FirstBank Privacy Policy for Curious Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Curious Learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Curious Learning through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

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E-Learning Curious Learning

For Parent / Guardian

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Parents should kindly complete the form below for their wards.

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