FairMoney, one of Nigeria’s leading microfinance banks, has introduced FlexiCredit, a premium credit line that gives eligible users access to up to ₦5,000,000 whenever they need it. The service is accessible through a single application and is designed to provide simplicity, transparency, and full control to users.

Approved users receive a personal credit limit they can draw from at any time through the FairMoney app. Interest is charged at 0.25% per day, and only on the amount used. For example, withdrawing ₦200,000 from a ₦1,000,000 limit for 10 days would cost ₦5,000 in interest, bringing the total repayment to ₦205,000. If the credit is not used, no fees are applied.

FlexiCredit offers instant access to funds for urgent needs, lifestyle improvements, or business ventures. This eliminates the delays of traditional loans with no lengthy approvals, paperwork, collateral, or rigid repayment schedules.

Also read: FairMoney Ranked Among Fastest Growing Companies in Africa by Financial Times

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 and how to apply via the FairMoney app

• Must be a salaried employee earning at least ₦250,000 per month
• 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

After approval, users have flexible repayment options. They can either pay the full amount borrowed or just the minimum due, which is calculated as a percentage of the borrowed amount plus accrued interest. Paying the minimum restores access to the remaining credit, while full repayment refreshes the entire limit for future use.

FlexiCredit arrives at a time when fast, reliable credit is essential for Nigeria’s professional class. By combining near-instant verification, simple repayment options, and 24/7 access to funds, FairMoney continues to support the financial stability and goals of its users.

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