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The short answer
FirstAdvance is FirstBank's digital salary advance for customers whose salary has been paid into a FirstBank account for at least two months. FirstBank's page, read in October 2026, lists a 30-day variant of up to ₦1,500,000 (capped at 50% of net monthly salary) and a 3-month variant of up to ₦2,000,000 (capped at 75%), priced at 3% flat per month plus a 1% management fee, 1% credit life insurance and VAT on the fee.
What FirstAdvance is
FirstAdvance is a salary advance: FirstBank lends against the salary it can see arriving in your account, and takes repayment from that account when the next salary lands. FirstBank's product page calls it a digital lending solution for convenient access to cash. You apply on your phone, through the FirstMobile app or USSD, with no branch visit and no form to print. The page also names the Lit app as a channel.
FirstBank does not describe a separate product called FirstCredit on the FirstAdvance page we read. If you have seen FirstCredit mentioned, check FirstBank's loans pages or ask the bank for its current terms; this article covers what the bank publishes for FirstAdvance.
Who qualifies
- Your salary account must be held with FirstBank.
- You must have received a regular salary into it for at least two months.
- Your eligible amount is worked out after deducting other loans you already owe FirstBank.
- The bank's system checks eligibility and shows you the amount; you do not submit documents up front, though FirstBank says it may ask for further information.
If FirstAdvance does not show for you, the usual reasons are a salary history shorter than two months, salary paid irregularly or not labelled as salary, or existing FirstBank loans using up your capacity. Our piece on FirstAdvance not eligible goes through each one.
The two variants and their limits
| 30-day variant | 3-month variant | |
|---|---|---|
| Maximum amount | ₦1,500,000 | ₦2,000,000 |
| Cap against salary | 50% of net monthly salary | 75% of net monthly salary |
| Tenor | 30 days or next payday, whichever is first | 90 days or third payday, whichever is first |
| Interest | 3% flat per month | 3% flat per month |
| Management fee | 1% flat | 1% flat |
| Credit life insurance | 1% flat | 1% flat |
| VAT | 7.5% of the management fee | 7.5% of the management fee |
| Late payment | 1% flat per month on overdue amounts | 1% flat per month on overdue amounts |
The page also says you can access FirstAdvance up to five times a day, within your maximum eligible amount. It is a little inconsistent on when charges are collected: the summary says all fees including interest are taken upfront at disbursement, while the detailed terms say that on the 3-month variant only the fee, insurance and VAT are upfront, with interest spread over monthly instalments. Read the confirmation screen to see which applies to your loan.
Worked example: what ₦200,000 costs
Example using the published rates, for a 30-day FirstAdvance of ₦200,000 with all charges taken upfront:
- Interest (3%)
- ₦6,000
- Management fee (1%)
- ₦2,000
- VAT on fee (7.5% of ₦2,000)
- ₦150
- Credit life insurance (1%)
- ₦2,000
- Total charges
- ₦10,150
- Cash you receive
- ₦189,850
- Repaid on payday
- ₦200,000
Measured against the cash in your hand, the charge is ₦10,150 on ₦189,850, about 5.3% for the month. To qualify for this amount on the 30-day variant, your net monthly salary would need to be at least ₦400,000, since the cap is 50%. If repayment were late, the penal charge on the overdue sum would be 1% a month: ₦2,000 a month on ₦200,000. Our explainer on APR vs flat fees shows why charges taken upfront raise the effective rate.
How to apply
FirstMobile app
- Log in, open the menu at the top left and choose Loans, then FirstAdvance.
- Review the eligible amount and pricing shown.
- Accept the terms, enter an amount no higher than your eligible amount and confirm with your transaction PIN.
USSD
Dial *894*11# or *894# and choose 3, Get Loans. Enter the amount, review the interest, fees and insurance displayed, then enter your five-digit transaction PIN to accept. Step-by-step help is in how to get FirstAdvance.
How FirstAdvance differs from a loan app
- Who lends: FirstBank, a CBN-licensed commercial bank. Most loan apps are non-bank lenders registered with the FCCPC.
- What it is based on: your salary history in your FirstBank account, not your phone data.
- How repayment works: the bank recovers from your account when salary arrives, so there is no collections call while money is available. If the account is empty, the penal charge applies and the bank can recover when funds land.
- Cost structure: a flat monthly rate plus published fees. Many apps quote a single fee or a daily rate; compare the total in naira.
Both report repayment behaviour to credit bureaus, so a missed payment affects future offers. See salary advances in Nigeria for how these products compare across banks.
Where Pryme fits
Pryme does not offer salary advances. For everyday spending with merchants in Spaces, customers may be offered Loans on Spaces, lent by Solid Allianze Microfinance Bank, with the full agreement shown before acceptance.
Questions people ask
How much can I borrow on FirstAdvance?
Up to ₦1,500,000 on the 30-day variant (capped at 50% of net salary) or ₦2,000,000 on the 3-month variant (capped at 75%), per FirstBank's page in October 2026.
What is the FirstAdvance USSD code?
FirstBank's page gives *894*11# or *894#, then option 3, Get Loans.
What is the FirstAdvance interest rate?
FirstBank lists 3% flat per month, plus a 1% management fee, 1% credit life insurance and VAT on the fee, as at October 2026. Check the app for today's price.
Can I get FirstAdvance if my salary is not paid into FirstBank?
No. FirstBank's page requires the salary account to be with FirstBank and at least two months of regular salary.
Sources
- FirstBank: FirstAdvance salary loan · accessed Oct 2026
- CBN: List of licensed deposit money banks · accessed Oct 2026
- FCCPC: Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (PDF) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.