FairMoney, a leading microfinance bank in Nigeria, has launched FlexiCredit, a premium, flexible credit line designed to provide eligible users with access to up to ₦5 million whenever needed. The service aims to deliver a seamless borrowing experience that prioritizes speed, transparency, and full control for users.
FlexiCredit offers lifetime access through a single application, allowing customers to draw funds at any time within their approved limit. Interest is only charged on the amount used, and repayment of the minimum due instantly restores access to the credit line. This structure ensures convenience and financial flexibility, particularly for salaried professionals and entrepreneurs navigating dynamic cash flow demands.
Speaking at the launch, Margaret Banasko, Head of Marketing at FairMoney, emphasized the product’s alignment with modern financial needs. “FlexiCredit was created for the Nigerian professional who values speed, clarity, and control over their finances. It is simple, transparent, and designed to keep up with the fast pace of our customers’ lives,” she said.
To qualify for FlexiCredit, applicants must be salaried employees earning at least ₦250,000 per month, maintain a good credit score, and complete Level Two KYC verification on the FairMoney app. During the application process, users link their salary accounts for instant income verification, conducted securely in line with the National Data Protection Regulation (NDPR) and Central Bank of Nigeria (CBN) guidelines. Approved users have 14 days to activate the credit line, and the first withdrawal must occur within 60 days to maintain account activity in line with FairMoney’s risk management policies.
FlexiCredit reflects FairMoney’s commitment to providing financial solutions that are both user-friendly and responsive to Nigeria’s evolving economic environment. By offering quick access to substantial credit limits, the product supports professionals in managing personal finances, bridging cash flow gaps, and seizing business opportunities without lengthy application procedures or hidden charges.
The launch of FlexiCredit reinforces FairMoney’s broader mission to enhance financial inclusion in Nigeria, combining technology, regulatory compliance, and customer-centric design to address gaps in the credit market. The service is expected to benefit thousands of Nigerians seeking reliable, on-demand financing to meet both personal and professional needs.
