Salary Plus Loan is a consumer credit scheme available to salary account holders. Through this scheme, qualified FCMB customers can access short- or medium-term funding, before payment of salaries.

Eligibility is based on criteria such as domiciliation of salary account with consistent receipt of salaries for a period of 6 months and categorized employer.

Salary Plus Top-Up

Salary top-up loan is a credit scheme available to existing customers who have a salary plus loan. Prequalification is done based on criteria such as up-to-date salary and no missed repayments on loans within the last 6 months.

You can apply for this loan in 2 easy ways:


To top-up your Salary loan through FCMBOnline , simply follow the steps below:

  • Log on to FCMBOnline
  • Click on Consumer Loan
  • Click on Salary plus top up
  • Select Current account number
  • Confirm loan amount
  • Check the box for terms and conditions.
  • Submit request and loan is disbursed within 8 hours.

Frequently Asked Questions on Top up on RIB


To top-up your Salary Plus loan at any FCMB Branch, simply follow the steps below:

  • Hand over account number to the Teller at the Branch
  • Teller inputs customer account number on the system to confirm customer eligibility.
  • Eligible amount is displayed.
  • Customer confirms go ahead with the loan amount and conditions.
  • Teller submits the request to Head teller for appropriate confirmation
  • OTP is generated upon completion and sent to the customers ‘registered phone number for confirmation
  • Customer reads out the OTP and teller.
  • Loan is disbursed within 8 hours.


Frequently Asked Questions on Branch Top up


1. Interest and other charges

1.1 The Bank will charge interest on the loan amount at the rate offered to the customer on the display screen above per annum, and the interest rate will be on floating terms subject to changes in money market conditions, for the period of the loan. If you fail to pay any amount owing to the Bank in terms of this agreement on the due date of such amount, the Bank shall be entitled to charge interest on the amount at the Bank’s penal rate.

1.2 Past Due Obligation Fee: This is calculated at the penal rate of 30% per annum. This will be taken monthly on any outstanding principal and interest obligations unpaid as at when due as well as any unauthorised overdrafts in salary account.

2. Payment and Fees

2.1 You agree that the Bank shall have the right to deduct the monthly installments in full directly from your salary and allowances (“emoluments”) as a deduction from your employer’s payroll.

2.2 You hereby give the Bank the right to deduct monies owing to it from any unpaid wages, remuneration credits or terminal benefits payable to you if you leave the service of your employer for any reason before the total amount repayable under this agreement has been paid.

2.3 In the event that the period between the loan disbursement date and first repayment date exceeds 31 days, the first installment due will be slightly higher than the equal monthly installment (EMI) amounts for subsequent months due to the extra days accrued.

2.4 In the event that post dated cheques (PDCs) are executed as repayment instruments for the loan availed, these will be presented on due dates. Cash payment will only be accepted in extenuating circumstances at the Bank’s sole discretion

2.5. Blank cheque and unused post dated cheques shall not be returned to borrower upon loan maturity, pre termination or for any other reason. Such unused post dated and blank cheques shall be destroyed by the Bank

2.6. Where repayment is tied to upfront (annual/quarterly), if the salary structure changes to monthly gross payments, the borrower shall immediately inform the Bank and the loan is restructured to Equal Monthly Installments (EMI) payment at the Bank sole discretion.

2.7. Management Fee: The borrower shall pay to the lender a management fee calculated at the rate of 0.75%.

2.8. Advisory Fee: The borrower shall pay to the lender a monthly advisory fee calculated at the rate agreed above.

3. Insurance

The Bank will require you to take a life insurance policy to cover loan repayment in case of death, through the Bank’s approved insurance plan. The insurance will cover the principal amount up to the unsecured limit of the loan and the insurance policy shall name the Bank as Loss Payee. There will be no refund of the insurance premium collected upfront for pre termination of the loan or for any other reason

4. Costs and Charges

4.1 You agree that, if the Bank has to use lawyers, Debt Recovery Agents and/or other Consultant because you have not carried out any part of this agreement, you will have to reimburse to the Bank all the costs incurred.

4.2 No/Late Salary Domiciliation: 2% flat penal charge on loan amount disbursed if salary domiciliation is not effected within agreed time.

4.3 This offer is based on your current employer details and its terms and conditions may be reviewed if this changes during the tenor of the facility. Employer switch charge of 2% on outstanding loan amount will apply

4.4 All out-of-pocket expenses including registration and legal fees, stamp duties and other fees incurred by the Bank in processing of this facility and enforcement of security and recovery of facility in the event of default will be for your account.

5. Breach

In the event of

i. any failure by you to pay any amount which is due and owing under this agreement in full as and when due;

ii. any breach by you of the terms of this agreement or

iii. any failure by you to carry out his or her duties under this agreement;

then the full sum outstanding under this agreement, together with any penalty interest and all other charges and expenses owing to the Bank by you shall become immediately due and payable, and without giving notice to you or affecting any of the Bank’s rights under this agreement, the Bank shall be entitled to terminate this agreement and claim and/or recover from you any damages/losses it may have suffered as a consequence. The Bank will advise you of any change in lending rate, charges, fees or any other terms and conditions of the loan by written notifications to the Borrower’s company Human Resource/ Payroll unit.

6. Letter of Undertaking

You agree to submit to the Bank an irrevocable letter from your employer undertaking during the term of the facility to:

i. either remit your monthly emoluments to your account with the Bank or remit directly to the Bank such part of your emoluments that is due, to the Bank monthly and

ii. to ensure that all the emoluments due to you in the event of your leaving the employment either temporarily or permanently and for any reason shall also be paid to the Bank up to the maximum sum out.standing on the loan and other unpaid charges as advised by the Bank

7. Set off and consolidation rights

The Bank may at any time and without notice to you combine all or any of your accounts and liabilities with the Bank in Nigeria (or elsewhere) whether singly or jointly with any person, or set off all or any monies standing to the credit of such account(s) including your deposits with the Bank (whether matured or not) towards satisfaction of any of your liabilities to the Bank whether as principal or surety, actual or contingent, primary or collateral, singly or jointly with any other person and the Bank may effect any necessary currency conversion at the Bank’s own rate of exchange then prevailing. Exchange risks associated with any collateral, cash or otherwise in satisfaction of outstanding debt shall be borne by you.

8. Banking instructions telex/facsimile/e-mail

Unless you instruct the Bank to the contrary, the Bank is authorized but not obliged, to act on your instructions transmitted through a telex, facsimile service or e-mail. You hereby release the Bank from, indemnifies and holds the Bank harmless from and against all actions, suits, proceedings, costs, claims, demands, charges, expenses, losses and liabilities however arising, in consequence of or in any way related to:

The Bank having acted in good faith in accordance with your written facsimile, e-mail or telex instructions, notwithstanding that such instruction(s) may have been initiated or transmitted in error or fraudulently altered, misunderstood or distorted in the lines of communication or transmission.

i. The Bank having refrained from acting in accordance with written, telephone, e-mail, facsimile or telex instructions by reason of failure of actual transmission thereof to the Bank or receipt by the Bank for whatever reason, whether connected with fault, failure or un-readiness of the sending or receiving machine.

ii. Your failure to forward all original copies of facsimile, telephone or e-mail instructions to the Bank


9.1 You agree to accept service of all notices, processes and any other communication relating to this loan through email address and/ or SMS to phone number indicated in the application form and hereby confirms these addresses as his/ her address for service. Therefore, you also agree that it is your responsibility to ensure that your contact details maintained with the bank are valid.

9.2 All notices and processes sent by registered post will be deemed to have been received Seven (7) days after the date of posting; all notices and processes delivered by hand shall be deemed to have been received on the day such letter is dated.

10. Appropriation

10.1 All amounts received by the Bank will be first apportioned towards overdue interest charges/fees, and interest. Any balance left thereafter will be appropriated lastly towards the principal sum.

10.2 The Bank reserves the right to refuse acceptance of post-dated cheques or such other instruments towards payment or settlement of the credit facility.

11. Indemnity

You hereby agree to fully indemnify the Bank against all costs and expenses (including legal fees, collection commission et cetera) arising in any way in connection with your accounts, these terms and conditions, in enforcing these terms and conditions or in recovering any amounts due to the Bank or incurred by the Bank in any legal proceedings of whatever nature.

12. Waiver

12.1 No forbearance, neglect or waiver by the Bank in the enforcement of any of these terms and conditions shall prejudice the Bank’s right to strictly enforce the same. No waiver by the Bank shall be effective unless it is in writing.

12.2 In so far as any right is conferred on you with regard to any obligation imposed on the Borrower by this contract, the Borrower hereby waives and forgoes all such rights and benefits, whether conferred by a statute,

13. Assignment to Third Parties

The Bank reserves the right to assign this agreement to a third party without your permission.

14. General Provisions and Conditions

14.1 Drawdown under the facility is subject to availability of funds.

14.2 SMS alerts / notification charges incurred in relation to this loan shall be for your account.

14.3 You irrevocably undertake that for the period of this agreement, you will maintain your bank account designated for the purposes of the loan with the Bank.

14.4 You hereby consents that FCMB shall be entitled to debit his/her/its account with the Bank on a monthly/quarterly/annual basis for the repayment of the facility, interest and all other charges and such consent shall be irrevocable and shall remain in force until a written confirmation is obtained from the bank that all obligations to FCMB in respect of the facility has been fully discharged by you.

14.5 First City Monument Bank Plc will give you, at your request, a statement setting out all deductions from your emoluments, the outstanding balance and any amounts payable in arrears.

14.6 In the event that that the facility becomes due and unpaid, the Bank reserves the right to notify Embassies, High Commissions and foreign consulates about your indebtedness.

14.7 You hereby authorize the Bank to access any information available to assess your application, and permission to register details of the trend of your account with any credit bureau, and you waive any claims you may have against the Bank in respect of such disclosure.

14.8 The Bank reserves the right to unilaterally review the facility including pricing, prepayment and past due obligation charge from time to time in the light of changing market conditions and also to terminate this facility based on any adverse information threatening the basis of this relationship or putting the facility at the risk of loss and where you (as borrower) are in breach of any of the terms and conditions of this facility. You shall be notified of any decision taken in this respect.

14.9 You hereby agree and consent that such notification by the Bank shall be by way of text messages sent to your mobile phone numbers listed on your account package with the Bank or by e-mail messages sent to your e-mail address listed on your account details/application with the Bank or through any other means the Bank may consider appropriate.

14.10 You specifically and unequivocally waive any right to contest, challenge, protest or claim upon any subsequent amendments made by the Bank to the terms of this facility or any notification sent by way of e-mail or text message to your e-mail address or mobile phone numbers.

14.11 The terms and conditions of this banking facility are subject to the Banking and other applicable laws of the Federal Republic of Nigeria as prescribed from time to time and the jurisdiction of the Nigerian Courts.

14.12 The Bank does not make any representation or warranty as to the accuracy or completeness of any due diligence reports or other reports, documents, or credit analyses prepared, or caused to be prepared, by it in connection with its activities under this facility or otherwise.

14.13 Neither the Bank nor its Directors, employees, agents, advisors or consultants will be liable for any loss, cost, damage, claim or liability that you or any other party might suffer or incur in connection with, or arising out of any activities under this facility or any transaction contemplated by this offer Letter.

14.14 Where Principal/Interest/Charges is not paid out within the stipulated tenor of this facility, this Offer/Acceptance letter with its attendant terms & conditions shall continue in force until payout of indebtedness. However this shall neither is deemed as regularization of default to repay nor a waiver of the right of the bank to call in the facility.

14.15 The Bank excludes any liability whatsoever for any direct or consequential loss and expenses which may be suffered or incurred by you based on the use of this platform and the Bank shall not be liable to pay for any damage or expenses suffered or incurred by you.

I confirm that I have read, understood and agreed to the above terms and conditions. I also authorize my employer to deduct monthly installments as per this agreement from my salary and allowances (“emoluments’) until the loan has been fully paid and the Bank to recover any outstanding installments against my terminal dues in the event of termination of employment before the loan is fully recovered.


As a demonstration of the Bank’s commitment to support our customers during the Covid-19 pandemic, we are pleased to inform you of a reduction in the interest rate on your Salary Plus Loan effective August 12, 2020.

However, you have the option of requesting for a reduction in your repayment tenure instead of a reduction in interest rate. This implies that you will retain your original repayment amount but have a reduced tenure.

Kindly click here if you would want a deduction in your repayment tenure. One of our representatives will reach you for confirmation after you complete the form.

You can also contact your Relationship Manager or visit the nearest FCMB Branch.