FairMoney Microfinance Bank has unveiled FlexiCredit, a new premium credit line that gives qualified users access to as much as ₦5 million whenever they need it.
The facility, accessible through a single lifetime application, is designed to offer convenience, transparency, and full user control.
With FlexiCredit, approved customers receive a personalized credit limit that they can draw from at any time directly in the FairMoney app. Interest is charged at 0.25% per day, and only on the amount actually used.
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For instance, a user with a ₦1,000,000 limit who withdraws ₦200,000 for 10 days will pay ₦5,000 in interest, bringing the total repayment to ₦205,000. When the credit line is idle, no charges apply.
Despite having stable jobs and regular income, many Nigerian professionals still face bottlenecks when seeking credit. Lengthy approval processes, documentation hurdles, collateral requirements, and rigid repayment structures often delay access to funds. FlexiCredit aims to remove these obstacles by providing an always-available credit line suitable for emergencies, lifestyle upgrades, business needs, and other opportunities that require speed.
Speaking on the product 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, your access is instantly restored. It is simple, transparent, and designed for the fast pace of our customers’ lives.”
Eligibility and activation
To qualify, applicants must be salaried workers earning at least ₦250,000 per month, maintain a strong credit profile, and complete Level Two KYC on the FairMoney app.
As part of the onboarding process, users link their salary accounts for secure and instant income verification, in compliance with NDPR and CBN data-protection standards.
Once the credit line is approved, customers have 14 days to activate it, and the first withdrawal must be made within 60 days to keep the line open in line with the bank’s risk management rules.
Flexible repayment for continuous access
Repayment has been structured for ease. Each customer gets a clearly displayed monthly due date within the app. Borrowers can choose to settle either the full balance or the minimum due, which is calculated as a percentage of the amount used plus accrued interest. Paying the minimum due reinstates access to the credit line, while clearing the full balance restores the entire limit.
Supporting Nigeria’s professional class
The launch comes at a time when fast, dependable credit has become essential for Nigeria’s expanding professional workforce. With near-instant verification, simplified repayment options, and 24/7 access to funds, FairMoney says FlexiCredit continues its mission to build financial tools that support users’ stability and aspirations.
FlexiCredit is currently available to eligible customers on Android, with an iOS version expected soon.
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