By Oyinkansayo Wole-Bodunde.
FairMoney, a top Nigerian microfinance bank, has unveiled FlexiCredit. FlexiCredit is a fresh credit product that allows qualified users to instantly borrow up to ₦5 million.
The line of credit is built around ease, transparency, and user control. Users can get a personal credit limit that they can access anytime via the FairMoney app, and interest (0.25 % per day) is charged only on the amount actually used.
Users can withdraw ₦200,000 for 10 days from a ₦1 million limit. The interest will be ₦5,000, and they will repay ₦205,000.
Traditional credit often drags with paperwork, collateral, and fixed schedules, but FlexiCredit eliminates those hurdles, catering to urgent needs, lifestyle upgrades, or business chances.
Margaret Banasko, Head of Marketing at FairMoney said, “FlexiCredit is tailored for the modern Nigerian professional who values speed, clarity, and control. You only pay interest when you use your limit, and once you settle your minimum due, access is instantly restored. It’s simple, transparent, and designed to keep pace with our customers’ busy lives.”
Those eligible are:
1. Salaried earners with a minimum monthly income of ₦250,000.
2. Those with good credit score.
3. Those who have completed Level 2 KYC in the FairMoney app.
4. Income Verification via linked salary account (NDPR and CBN data rules).
After approval, users have 14 days to activate the line and must make the first withdrawal within 60 days to keep it active.
For Repayment:
1. Monthly due date shown in the app.
2. Choose full payment or minimum due (a % of used amount + interest).
3. Paying the minimum restores full limit, and full repayment resets it.
FlexiCredit fits Nigeria’s expanding professional class, delivering dependable, instant financing with flexible repayment and 24/7 access. It is currently on Android, and will be coming soon on iOS.
