FairMoney Microfinance Bank has introduced FlexiCredit, a new premium credit line designed to give Nigerian professionals instant access to funds of up to ₦5,000,000 whenever needed, with no recurring fees and full control directly from the FairMoney app.
The product, built around simplicity, transparency, and flexible repayments, is now available to eligible customers.
Okay News reports that FlexiCredit provides lifetime access through a single application.
FairMoney says FlexiCredit is meant to solve a persistent challenge in Nigeria’s credit landscape, where even employed and financially stable individuals often face delays due to collateral requirements, lengthy approval cycles, and rigid repayment structures.
The new product removes these obstacles by maintaining an always-on credit line that customers can draw from at any moment.
According to the bank, interest is charged at 0.25 percent per day only on the amount used. A practical example provided shows that a customer with a ₦1,000,000 limit who withdraws ₦200,000 for 10 days will pay ₦5,000 in interest, with total repayment standing at ₦205,000. If the credit line remains unused, the customer pays nothing.
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.”
To qualify, applicants must earn a minimum monthly salary of ₦250,000, complete Level Two KYC, maintain a strong credit score, and securely link their salary account for instant income verification in compliance with NDPR and CBN data protection guidelines. Once approved, customers have 14 days to activate their credit line, and must make their first withdrawal within 60 days to keep it active.
Repayment is structured for ease, with each customer given a clear monthly due date within the app. Borrowers can either repay the entire amount used or pay the minimum due, calculated as a percentage of the loan used plus accrued interest. Paying the minimum due restores immediate access to the credit line, while full repayment refreshes the entire limit.
FlexiCredit launches at a time when reliable, round-the-clock access to credit has become essential for Nigeria’s expanding professional class. By combining fast verification, flexible repayment, and constant availability of funds, FairMoney says it is continuing its mission to build financial products that support long-term stability and upward mobility for users.
FlexiCredit is currently available to eligible Android users, with an iOS rollout planned soon.
