FairMoney Introduces FlexiCredit, a High-Limit Credit Line for Nigerian Professionals

FairMoney, one of Nigeria’s leading microfinance institutions, has unveiled FlexiCredit, a premium credit line designed to give eligible professionals instant and uninterrupted access to funds of up to ₦5,000,000. The new product is built to offer lifetime access through a one-time application, emphasizing convenience, transparency, and complete financial control for users.

With FlexiCredit, approved customers receive a personalized credit limit that they can withdraw from at any time directly within the FairMoney mobile app. Interest is charged at 0.25% per day only on the exact amount used. For instance, a customer 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, the user incurs no charges or hidden fees.

Despite having stable employment and regular income, many Nigerian professionals still face delays and hurdles when trying to access quick credit. Traditional lenders often require lengthy paperwork, collateral, long approval cycles, and rigid repayment plans. FlexiCredit aims to remove these barriers by offering an always-ready credit line suited for emergencies, business opportunities, lifestyle needs, and everyday financial demands.

Speaking on the launch, Margaret Banasko, Head of Marketing at FairMoney, explained that FlexiCredit was designed for modern Nigerian professionals who prioritize speed, clarity, and financial freedom. She noted that interest applies only when funds are used, and once a customer pays the minimum due, access to the credit line is instantly restored.

To qualify for FlexiCredit, applicants must earn a minimum monthly salary of ₦250,000, maintain a positive credit score, and complete Level Two KYC on the FairMoney app. During the application process, users securely link their salary accounts for instant income verification, following NDPR and CBN data protection standards. Once approved, customers have fourteen days to activate their credit line, and their first withdrawal must be made within sixty days to keep the account active in line with FairMoney’s risk management policies.

Repayment is structured for convenience and peace of mind. Each user is assigned a monthly due date visible within the app. They can choose to repay the full amount borrowed or pay the minimum due, which includes a percentage of the amount used plus accrued interest. Paying the minimum due automatically reinstates access to the credit line, while full repayment refreshes the entire credit limit.

The introduction of FlexiCredit comes at a time when quick and reliable access to credit is increasingly important for Nigeria’s growing professional class. By combining fast verification, flexible repayment options, and round-the-clock access to funds, FairMoney continues to strengthen its position as a leading provider of digital financial solutions tailored to the needs of today’s users.