FairMoney Unveils FlexiCredit, Offering Nigerians Up to ₦5 Million in Instant Credit

FairMoney Microfinance Bank, one of Nigeria’s leading digital lenders, has launched FlexiCredit, a premium credit line that gives qualified users access to up to ₦5,000,000 anytime they need it. Designed to deliver speed, transparency, and full user control, the new service is accessible through a single application on the FairMoney app.

Once approved, users are assigned a personal credit limit they can draw from at any time. Interest is charged at 0.25% per day, and only on the amount used. For instance, withdrawing ₦200,000 out of a ₦1,000,000 limit for 10 days results in ₦5,000 in interest, bringing the total repayment to ₦205,000. If the customer does not use the credit line, no charges apply.

FlexiCredit provides instant access to funds for emergencies, lifestyle needs, or business financing—eliminating traditional loan delays such as paperwork, collateral requirements, and rigid repayment structures.

Speaking on the launch, Margaret Banasko, Head of Marketing at FairMoney, said:

“FlexiCredit was created for the modern Nigerian professional who values speed, clarity, and control. You only pay interest when you use your limit, and once you pay your minimum due, access is instantly restored. It is simple, transparent, and designed to match the fast pace of our customers’ lives.”

Who Can Qualify for FlexiCredit?

To be eligible for FairMoney’s FlexiCredit, users must meet the following requirements:

• Be a salaried employee earning at least ₦250,000 monthly
• Maintain a good credit score
• Complete Level Two KYC on the FairMoney app
• Link a salary account for instant income verification
• Activate the credit line within 14 days of approval
• Make the first withdrawal within 60 days to keep the line active

How FlexiCredit Works: Repayment and Access

Once approved, customers can choose between full repayment or paying the minimum due, calculated as a percentage of the borrowed amount plus accrued interest.

• Paying the minimum due restores access to the remaining credit.
• Full repayment refreshes the entire credit limit for future use.

This structure gives users flexible repayment options while ensuring continuous access to funds.

Supporting Nigerians With Fast, Reliable Credit

FlexiCredit arrives at a time when Nigeria’s professionals increasingly rely on quick and dependable credit for financial stability. With near-instant verification, simple repayment choices, and 24/7 access, FairMoney continues to strengthen its position as a leader in digital financial services.

The service is currently available to Android users, with iOS access coming soon.