First City Monument Bank and 247 Travels have introduced Book Now, Fly Later, a financing initiative that permits qualifying customers to obtain loans of up to N10m for buying international flight tickets, with repayment terms spanning three to nine months.
The initiative aims to assist Nigerians in distributing travel expenses for business, education, healthcare, tourism, and family obligations, as stated by the partners on Monday.
The service, supported by FCMB Premium Banking, is exclusively available for airline tickets bought via 247 Travels.
As stated by the partners, both salaried and self-employed FCMB clients who fulfill the bank’s eligibility criteria can request the facility, with those approved anticipated to obtain funding within 24 working hours.
The collaboration merges FCMB’s financing abilities with 247 Travels’ reservation services to offer clients an installment payment choice for overseas travel.
Yemisi Edun, the Managing Director of FCMB, remarked that the product aimed to provide customers with more flexible options for travel financing.
“FCMB believes that banking should enable individuals to chase their ambitions without undue financial pressure,” Edun stated.
“Our Book Now, Fly Later option enhances travel accessibility and affordability while allowing customers to responsibly handle their finances,” she stated.
Edun stated that the initiative is in line with the bank’s strategy of fostering growth via innovation and collaborations. “We will keep creating products and partnerships that make financial decisions easier and bring value to our customers,” she stated.
The Managing Director of 247 Travels, Tunji Adeyemi, stated that the initiative tackles the issue of settling the total price of airline tickets in advance.
“Travelers are seeking more flexibility and convenience than ever.” “Adeyemi stated that our collaboration with FCMB allows customers to book flights and distribute payments gradually.”
Additionally, Opeyemi Makinwa, FCMB’s Group Head of Premium Banking, stated that the product showcases the bank’s commitment to broadening lifestyle-oriented financial services.
“Clients anticipate financial services that seamlessly integrate into their daily routines.” “Book Now, Fly Later offers increased flexibility and better financial management,” Makinwa stated.
Customers can apply via FCMB’s Book Now, Fly Later service or the 247 Travels site by choosing a desired flight and submitting a financing application. Upon approval, the loan is released, and the ticket is generated by 247 Travels.
The initiative broadens the “Book Now, Fly Later” payment model to include international flights, offering customers an extra choice for funding personal and business journeys.
