You might think of how to get a loan from First Atlantic Bank Ghana. The good news is that it isn’t nearly as difficult as you might think. Customers can choose from a variety of options at First Atlantic Bank to help them realize their dreams and goals. From entrepreneurs to salaried workers to retirees, there is something for everyone. In recent years, loans have been a popular option, particularly when looking to invest or simply meet responsibilities. Therefore, for whatever reason it is, First Atlantic Bank loans surely have you covered.
As you read along, you’ll learn more about how to get a loan from First Atlantic Bank, their mobile banking services, etc.
About First Atlantic Bank Ghana
First Atlantic Bank is a full-service commercial bank in Ghana with over 20 years of expertise. The bank began as a merchant bank, but in 2011, it transitioned to a universal bank with a broader product offering.
They’ve won a slew of honors for their outstanding work in customer service, trade finance, and corporate banking. Retail, corporate, and institutional banking, as well as private banking and electronic banking, are all areas where the bank excels. Each category has a variety of unique services aimed at making our customers’ lives easier.
What are the loan products of First Atlantic Bank Ghana?
First Atlantic Bank Ghana offers some loan products to its customers. They include:
1. Atlantic Salary Advance
This is a salary advance loan they designed to provide credit to employees of blue chip firms the Bank approved who have regular paychecks. Besides that, they also need financial help to satisfy urgent obligations before their next paycheck.
The features of Atlantic Salary Advance
The following are the features of Atlantic Salary Advance:
- Up to 70% of an employee’s one month’s salary net of taxes and all deductions.
- Has a global limit of GH₵1,000,000 (One million Ghana Cedis)
- It has a 2% flat on facility amount payable upfront.
2. Atlantic HiLife
This is an interest-free loan that allows salaried employees to purchase personal household assets, such as appliances or furniture, on flexible payback terms.
The features/ benefits of Atlantic HiLife
- It has an individual limit of up to GH₵40,000.00 for household items and GH₵100,000 for vehicles.
- Interest free loan repayable in up to 12 equal monthly instalments.
- Available for employees of reputable companies and public sector organizations.
- You can purchase high value brands from reputable vendor partners with guarantees on quality.
- As a customer, you can get assets without pre-financing the purchase of these assets.
3. Atlantic Personal Loan
The product provides credit to permanently paid employees for personal purposes. They aim this product program for all government permanent paid employees, such as doctors, judges, lecturers, instructors, and nurses, as well as Tier 1 clients who meet the Bank’s recruitment standards.
The features of Atlantic Personal Loan
The following are the features of Atlantic Personal Loan:
- It supports their customers who need short-term needs.
- There is an insurance fee of 1% flat on facility amount payable upfront.
- It comes with a tenor of a maximum of 48 months.
4. Atlantic Auto Loan
This offer allows employees of reputable businesses and government agencies to purchase new or slightly used vehicles at low loan rates.
The features/ benefits of Atlantic Auto Loan
The following are the features of Atlantic Auto Loan:
- Individual limit of up to GH₵100,000.00 (for new cars) and GH₵80,000.00 (for used cars) based on debt service ratio.
- Long repayment periods of 60 months for new cars and 48 months for used cars.
- It has a competitive interest rate based on current base rate plus risk premium.
5. CAGD Deductible Loans
They designed this product to offer credits to Public Service Staff. Typically, staff who receive their salaries through the Controller and Accountant General’s Department (CAGD). This CAGD loan will help them finance their Personal Obligation or gain Household Assets.
The features of CAGD Deductible Loans:
- This product supports their customers who receive their salaries through the Controller and Accountant General Department. Just for those who need support for short-term needs.
- It grows retail assets on the consumer lending space
How can I apply for First Atlantic Bank Loans?
Your financial obligations will always motivate you to source for funds. Although you might not have wanted to get a loan from a lender. But the pressing need you have may not give you all the time you might need to scale through times you lack funds. Therefore, getting a loan to solve those pressing needs could be the only thing that makes sense to you.
However, in order to apply for First Atlantic Bank loans you should:
- Visit any of their branches in Ghana and request the loan product that best suits your needs.
- Visit their website and apply for the loan you want. Their website is in the contact details below.
- Use their bank short codes to request for the loan you need or perform other financial transactions.
First Atlantic Bank Short Code
First Atlantic Bank released their short code in February 2020 to make banking more convenient. You can check your bank balance without going to the bank with the short code. Some carriers have already added a mobile money short code option to their mobile money short codes to supplement the bank.
What Is The Short Code of First Atlantic Bank (FAB)?
*442# is the official FAB short code. Other choices on your mobile money include depositing money into your bank account and withdrawing money from your associated bank account. However, they are limited.
Each time you use the code, FAB deducts 1% of your money when you deposit or withdraw money from your mobile money account. That is the only option for which they charge the USSD Code. Although they have brought this to the Bank’s knowledge, it has refused to consider this option.
There are no fees for making deposits at the bank.
Use the MTN Mobile Money Short code *170# to avoid the one percent deduction when making a withdrawal or deposit into your account.
How Can I Withdraw Money Into My Mobile Money Account Without Paying The Charges
If the charges you’ve been paying for withdrawing your money into your mobile money account bothers you. Don’t worry, there’s a way to withdraw your money without them charging you, just:
- Buzz *170# on your phone when using MTN Network.
- Reply With (5) Financial Service
- Select (1) Bank Service
- Select Either (1) or (2)
- Choose(12) First Atlantic bank
- Select Your Account
- Enter Amount
6 Things You Can Do With The First Atlantic Bank Short Code?
There are some financial transactions you can carry out using the Atlantic Bank Short Code. They include:
- Buy Airtime and Mobile Data
- Account Services
- Request Cheque book
- Cancel Cheque Book
- Stop Cheque
- Request Card
- Block Card
- Pay Bills
- Account Balance
- Mini Statement
- FX Rates
What are the contact details of Atlantic Bank Ghana?
For more enquiries on their loan products, you can reach out to them through:
- Location: Atlantic Place
- Address: No. 1 Seventh Avenue Ridge West, Accra, Ghana.
- Email: email@example.com
- Website: www.firstatlanticbank.com.gh
- Telephone: +233 (0)30 268 2203, 268 0825.
- Fax: +233 (0)30 267 9245.
Having seen the loan products that First Atlantic Bank Ghana offers its clients. Just select the loan products that will be commensurate to your financial capacity. However, after getting the loans, ensure you repay them promptly to improve your credit score. Besides that, when you comply with the terms of these loans, your lender would be eager to lend you more in the future. Just because you respected your initial agreement with him. Ultimately, your good financial behaviour will not let credit bureaus in Ghana blacklist you.