FairMoney, Nigeria’s leading digital microfinance bank, has introduced FlexiCredit, a revolving credit facility that provides eligible customers with instant access to up to ₦5 million at any time, with no paperwork required, no collateral needed, and interest charged only on the amount actually used.
Unlike traditional loans that come with fixed tenors and rigid schedules, FlexiCredit works like a lifetime credit line inside the FairMoney app. Once approved, users get a personal limit they can draw from 24/7. Interest is a flat 0.25% per day solely on the amount withdrawn, and when the credit sits unused, it costs absolutely nothing.
“For example,” the bank explains, “if you take ₦200,000 from a ₦1 million limit and repay after 10 days, you only pay ₦5,000 in interest — total repayment ₦205,000. Leave the limit untouched, and your wallet stays untouched.”
The product is aimed squarely at Nigeria’s growing class of salaried professionals frustrated by slow bank processes and endless documentation.
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Margaret Banasko, Head of Marketing at FairMoney, said: “FlexiCredit is built for the modern Nigerian who needs money to move fast — whether it’s an emergency, a business opportunity, or simply a better quality of life. You apply once, get approved, and the money is there whenever you need it. Pay only for what you use, settle the minimum due, and your full limit is instantly restored. It’s that simple.”
To qualify, applicants must:
-Earn a minimum salary of ₦250,000 monthly
-Have a good credit score
-Complete Level Two KYC in the FairMoney app
-Securely link their salary account for instant income verification
The entire process complies with NDPR and Central Bank of Nigeria data-protection rules.
Repayment is equally flexible: customers see a clear monthly due date inside the app and can settle the full balance or just the minimum due (a small percentage of the used amount plus interest). Pay on time and the full credit line is immediately available again.
With FlexiCredit, FairMoney is positioning itself as the go-to financial partner for Nigeria’s ambitious professionals, offering speed, transparency, and control in a market where instant, hassle-free credit has long been out of reach.
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