FairMoney Launches FlexiCredit, a New Credit Facility Offering Users Up to N5 Million

FairMoney, one of Nigeria’s top microfinance banks, has just launched an exciting new credit facility called FlexiCredit. This innovative product gives eligible users access to up to ₦5 million whenever they need it, all through a single, easy-to-use app. FairMoney’s FlexiCredit is designed to make borrowing simple, clear, and fully under your control.

With FlexiCredit, once approved, users get a personal credit limit they can tap into anytime via the FairMoney app. Interest is charged at just 0.25% per day, and only on the amount you actually use. For instance, if you withdraw ₦200,000 from a ₦1,000,000 limit and hold it for 10 days, you’ll pay ₦5,000 in interest, making the total repayment ₦205,000. And if you don’t use your credit, there are no fees at all.

This flexibility means you get instant access to funds for anything important, whether an emergency, lifestyle upgrade, or a business opportunity, without the usual hassle of traditional loans. There’s no waiting around for approvals, no piles of paperwork, no collateral required, and no strict repayment schedules.

At the official launch, Margaret Banasko, FairMoney’s Head of Marketing, said the product is made for “the modern Nigerian professional who values speed, clarity, and control.” She added, “You only pay interest when using your credit, and after you pay your minimum due, your access to the line is instantly restored. It’s simple, transparent, and fits with the fast pace of our customers’ lives.”

Qualifying for FairMoney’s FlexiCredit is straightforward:

You need to be a salaried employee earning at least ₦250,000 monthly.

Keep a good credit score.

Complete Level Two KYC verification in the FairMoney app.

Link your salary account for quick income verification.

Activate your credit line within 14 days after approval.

Make your first withdrawal within 60 days to keep the credit line active.

Once you’re approved, repayment is flexible, too. You can pay back the full amount borrowed, or just the minimum due, which covers a percentage of the borrowed sum plus interest accrued. Paying the minimum lets you keep using the remaining credit, while paying in full refreshes your entire credit limit for future use.

FairMoney’s FlexiCredit arrives at a time when quick, reliable credit is crucial for Nigeria’s working professionals. By combining rapid income verification, straightforward repayment options, and 24/7 access to funds, FairMoney continues to back the financial goals and stability of its users.

Right now, FlexiCredit is available for Android users, with iOS access expected soon. This new option is set to make borrowing smoother and more flexible for many Nigerians, giving them greater control over their finances without the usual stress and delays. FairMoney really delivers with FlexiCredit, a credit solution that fits modern life. This new facility is an exciting step forward in how Nigerians can access and manage credit easily and responsibly through the trusted FairMoney platform.

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