Frequently asked questions

  • You must be in a paid employment
  • Your age should be between 18 and 58 years
  • You must have an active salary account
  • You must have a clean Credit Bureau Report.
  • 1 Recent Passport Photograph
  • A valid means of Identification (International Passport, Drivers Licence or National ID card)
  • Employee ID Card

  • NUBAN Cheques and Direct Debit Mandate

  • Salary bank statement for the last 6 months OR 12 months bank statement for SME loans.

  • Proof of business and residential address (SME loans only)


Our minimum loan amount is N100,000 and the upper limit for a new customer is N5,000,000. Both depend on borrowers capacity to repay based on verifiable income level and other selection criteria.

Yes, you can extend an existing facility loan tenor through a Top-up. As an existing customer, you can access a maximum tenor of 12 months (as an individual).

A top up is returning/increasing the balances on an existing loan facility. The existing facility will be liquidated in order to process a new loan, as you cannot have two loans running simultaneously. The amount of money receivable (the difference between the New Principal and Unpaid Principal on the Existing Loan) will be communicated and disbursed into your account of choice.

You can top up on your existing loan after you have made 2 payments on your existing 3 month loan, 4 payments on your existing 6 months loan and 6 payments on your 9 months loan and 9 repayments on a 12 months loan without a default. You will also need to provide your updated bank statement and issue new postdated cheques.

You cannot have more than one loan at a time, but you can apply for a top up loan after three repayments on your existing loan.

Yes, your application is subject to a credit check before approval.

No, your application can also be made online through our virtual channels (Website or Mobile App). After the application has been made, our customer care rep or sales officer will contact you.

Yes, you have to be a salary earner or a registered business owner

You receive a status text or email.


You can make repayments via our different channels depending on which is convenient.

NUBAN Cheques: Your cheques serve as a fall back plan for repayment and will be presented only in cases where we are unable to claim your repayment via DDM.

Online Payments: You can login onto your online profile page on our Secured Online Banking Platform and conveniently make your loan repayment. This payment is reconciled automatically without human interference and can easily be adopted as a primary form of repayment.

Direct Debit Mandate (DDM): This is adopted as your primary form of repayment towards your existing facility and is set up as a part of your initial application process via your online profile.

Remita: This also serves as an automated primary form of repayment towards your existing facility. It is set up by contacting your bank and having them set it up on your behalf.

On your salary pay day.

Yes, you can pay down/liquidate your existing facility at any time.

We will hold your cheque from being presented for 24 hours, during which we would implore you to keep us posted on the status of your account.

Yes, your repayment date can be changed. To facilitate this change, please send this request via mail to customerservice@fastcredit-ng.com with evidence of the change of employment.

Please send us an email customerservice@fastcredit-ng.com or call our Contact Centre on 012917931 and we will refund the second debit after due confirmation.

You can visit our office to retrieve your cheques at least 24 hrs after request, once loan has been fully liquidated.

The liquidation amount consists of your outstanding principal, outstanding management fee and interest accrued to date of liquidation. Please note that the amount is valid on a daily basis because of running interest.

No, you cannot make part payment as your loan repayment date are agreed before loan disbursement, however a change in repayment date is possible depending on your cash flow. Charges will apply in case you change your repayment date.

Yes you can pre-liquidate your loan, however there is a pre-liquidation fee of 2% of loan value.

If you do not want your cheques presented you can make payment in our account with details as follows and contact us on customersevice@fastcredit-ng.com
Fast Credit Limited Zenith bank 1013976629
What is the penalty for defaulting on loan repayment?
The default penalty is 1% on instalment amount for each day of default. If the default passes 30 days, more stringent measures may be applied which may include

  • Reporting defaulter to his/her employer
  • Reporting defaulter to Credit Bureau

Yes you can pick up your cheques after liquidation within 24 hours

Please note that placing a standing instruction on your account is subject to availability of funds for both the bank charges and the amount to be debited from your account. Kindly visit your bank to ensure the standing instruction is properly setup or send email to customerservice@fastcredit-ng.com


It is a convenient way of making your payment without having your cheque presented, for loan repayment.

It is set up via a link after which you visit your bank to have it activated on your account. A form of confirmation with the RRR number is then issued to you and stamped by the bank. Also, append your signature and then submit as part of your documentation.

The Remita terminates at the end of your loan.


The minimum tenor is 90days

Yes, however, there is a 20% pre-liquidation charge on the accrued interest

Interest payments can be paid into your account of monthly, quarterly, annually or upon maturity

You can get your interest upfront with funds placed for a minimum tenor of 180days

No. However, there is a 10% withholding tax to be charged on the accrued interest.


For any additional information, please call 01-8885046 or walk into any Fast Credit Limited branch.


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