How To Obtain First Bank Automobile Loan, Features And Requirements

How To Obtain First Bank Automobile Loan – First Bank Nigeria is one of the best Nigerian banks. In fact, for many, it is seen as the number one bank in Nigeria. The First bank offers a lot of loan facilities to her customers. There are different types of loans on offer. Some of them include hose loans, car loans, students loans, overdrafts etc.

If you have ever wanted to won your own car, then you need to know how to obtain First Bank automobile loan. We will point out every thing you will need to know as well how you can apply for this loan at your own convenience.

How To Obtain First Bank Automobile Loan

To apply for the automobile loan, here what you will need to do.

  1. Download the Auto Loan Application Form
  2. Complete the form and submit at the nearest FirstBank branch.
  3. Follow whatever else they may ask you to do till you access the loan.

Also See: How To Apply Access Bank PayDay Loan & Requirements

First Bank Automobile Loan Features

Below re the features of this loan facility.

  1. Maximum loan amount of N10 million
  2. Maximum tenor is 48 months (4 years)
  3. Equity contribution is required
  4. Competitive interest rates
  5. Automobiles to be financed must be new and from FirstBank approved vendors
  6. Salary domiciliation.


  1. Allows customers to channel funds that would have been expended on vehicle purchase to other commitments
  2. Promotes personal banking relationship.

Also See: Diamond Bank School Fees Loan Application Form

First Bank Automobile Loan Requirements

You must provide the following documents.

  1. Application letter
  2. Auto Loan application form
  3. Proforma Invoice from FirstBank approved vendors
  4. Current 3 months pay slip
  5. Statement of account
  6. Letter of total emolument.

Who Can Apply

Those who can apply for this automobile loans are all Employees in paid employment.

First Bank Automobile Loan FAQs

1) Is the Auto loan facility available to salary account holders in other banks?

  • Applicants must have a salary account with FirstBank.

2) Can the facility be used for the acquisition of fairly used vehicles?

  • The facility is restricted to the purchase of brand new vehicles only.

3) Is credit insurance premium mandatory for this product?

  • Yes. Credit life insures the borrower while the car insurance premium insures the vehicle purchased.

4) Is it mandatory to purchase my vehicle from FirstBank pre-approved vendor list

  • Yes, it is.

5) Is it mandatory to insure the vehicle financed?

  • Yes, all vehicles purchased must be ensured comprehensively through FBN Insurance brokers.

comments and contributions are welcomed below.


Submit a Comment

Your email address will not be published. Required fields are marked *

Top News Today:

How to Check Mock Jamb Result 2022

This article is for you If you're among the candidates who have participated (sat) in the Mock Jamb Result for the 2022 session. Joint Admissions and Matriculation Board (JAMB) has officially released the results of the Unified Tertiary Matriculation Examination...

Travel & Tourism Tips:

Live and Work in Canada | Apply for Canadian jobs abroad

It isn't new to know that Canada is a land of opportunity, that's the reason individuals and families are migrating. It is weird to even think of finding and applying for a job in Canada from abroad, right? But it's possible. Ever since the pandemic, Canada’s labor...

Most Read Tech Reviews:

Most Trending Opportunities To Explore:

Top 7 Ways To Avoid Job Scams – Job Recruitment Safety Tips

We have heard countless times people complain and wail about having been scammed. The truth is that we have many job scammers roaming around every street these days. And unfortunately, they have learned how to appear decent and unsuspecting. Regardless, these Top 7...

Fashion & Lifestyles:

5 Proven Steps To Achieve Success Faster

To be able to succeed in life, you must work hard to achieve success. It’s very rare to see someone become successful without any labour put in. It would be considered a Miracle then. For anyone aiming for success, you need to climb some tough ladders or cross some...

Entertainment Zone:

Full Guide – How to Apply for the Guinness World Record

Guinness World Records is a global organization that recognizes " set or break a record" achievements across the globe. Of truth, breaking an already existing record or setting a new one is a prestigious accomplishment that showcases your extraordinary skills,...

How to Vote Big Brother Titans – Vote your Favourite Housemate

The Big Brother Titans reality TV show kicked off on January 15th, 2023, with a total of 24 Nigerians and South Africans being present in Big Brother’s house. The show is packaged with lots of exciting activities - captivating the interest of viewers. To some fans, it...

Trending How-To’s Articles:

How To Verify Google AdSense WITHOUT A PIN

– Is your Google AdSense Payment on hold because you haven’t verified your address with Google PIN?
– Have you applied for the PIN 4 times and still haven’t gotten any?
– Is your YouTube or Blog not displaying ads because you haven’t verified your Google Account?
If any of this concerns you, then you are on the right page to restore your Google AdSense + Blog +YouTube Earnings again.

Business Zone:

Zenith Bank Internet Banking Login Page

Zenith Bank Internet Banking Login Page

Banking has become widely adopted around the world, and your bank's banking system is not excluded. There are several digital banking methods offered by Zenith Bank - each method offers seamless services. Talking about the available Zenith Bank digital banking...

Leading 11 Fintech Companies in Nigeria (Mobile Money Apps)

Leading 11 Fintech Companies in Nigeria (Mobile Money Apps)

Arguably to say that the Fintech companies in Nigeria are indeed revolutionising access to finance and banking services, with the consistent strategy of delivering outstanding features (products and services) to individuals and businesses in the country. It almost...

Understanding Student Loan Forgiveness Program

Understanding Student Loan Forgiveness Program

Student loans have been of great opportunities to many and yet a disturbing thing to some as well. Understanding every principle behind the student loans, application processes, and the escape roots (also known as Student Loan Forgiveness Programs) would be a...

Pin It on Pinterest

Share This