How To Apply For First Bank Personal Home Loan

How To Apply For First Bank Personal
Home Loan – The Personal Home Loan product give employees the opportunity to acquire and own residential properties with ease. The product is also available for couples as Joint Mortgage.

About First Bank

The Bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. With its head office
originally in Liverpool, the Bank commenced business on a modest scale in Lagos, Nigeria under the name, Bank of
British West Africa (BBWA).

In 1912, the Bank acquired its first competitor, the Bank of Nigeria (previously called Anglo-African Bank) which was established in 1899 by the Royal Niger Company. In 1957, the Bank changed its name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA).

In 1966, following its merger with Standard Bank, UK, the Bank adopted the name Standard Bank of West Africa Limited and in 1969 it was incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968.

First Bank of Nigeria Limited (“FirstBank”), established in 1894, is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria.

Features Of First Bank Personal Home Loan

Available to individuals in paid employment
Maximum tenor is 20 years, subject to retirement age
Simplified documentation
Minimum of 20% equity contribution
Competitive interest rates
Property to be financed must be residential in First Bank approved locations and not for commercial purpose.
Your Salary Account must be domiciled with FirstBank for the period the facility is in place

Required Documents For First Bank Personal Home Loan

Vendor’s offer letter
Copy of the title documents to the property (ownership must be in the name of the vendor).
Copy of the approved building plan.
Personal Home Loan Application form
Letter for irrevocable domiciliation of salary for the duration of the facility.