FairMoney Microfinance Bank has introduced a new product called FlexiCredit, and it’s already gaining attention because of how different it is from the usual loan apps Nigerians are used to. With FlexiCredit, eligible users can get a credit limit of up to ₦5 million, withdraw only when they need it, and pay interest only on what they use.

It’s the kind of financial backup many people have been looking for especially in a country where income is unpredictable, emergencies come without warning, and business opportunities don’t wait for loan approvals.

Why FairMoney Created FlexiCredit

 

FairMoney says this product is mainly for people who want steady access to money without applying for new loans every time. If you’ve ever gone through the stress of filling forms repeatedly or waiting long hours for approval, you understand the appeal immediately.

FlexiCredit gives you a credit line you can tap into whenever the need arises. The limit stays open, and each time you repay your minimum due, your access is restored. This is something traditional banks offer their premium customers, but FairMoney is opening it up to regular working Nigerians who meet the requirements.

A Brief Look at FairMoney’s Journey in Nigeria

FairMoney started operation in Nigerian market 2017 as a digital lending platform offering quick unsecured loans to individuals. Over time, it has evolved into a fully licensed microfinance bank regulated by the Central Bank of Nigeria (CBN). Today, FairMoney serves millions of customers across all 36 states, offering:

• Instant personal loans

• Bill payments

• Airtime and data recharge

• Bank transfers

• Savings products

• Virtual card services

• Salary account features

• Business loans for SMEs

FairMoney’s growth has been driven by three major factors:

1. Speed and convenience — Loan approvals that take minutes, not days.
2. Technology-first approach — Automated decision-making using credit scoring and banking algorithms.
3. Customer accessibility — Serving people traditional banks often ignore: students, small business owners, contract workers and new professionals.

What Makes FairMoney FlexiCredit Different?

Unlike traditional loans, FlexiCredit offers:

1. One-Time Application

Users apply only once and enjoy lifetime access to their credit line.

2. Withdraw Whenever Needed

Funds can be withdrawn at any time — daily, weekly, or monthly — as long as the user stays within the approved limit.

3. Pay Only for What You Use

Interest is charged only on the amount withdrawn, not the entire approved limit.

4. Instant Credit Renewal

Once the minimum due is repaid, access is restored automatically.

5. Up to ₦5 Million

High-limit credit line suitable for salary earners and small business owners.

This makes FlexiCredit a powerful tool for managing unpredictable cash flow, especially in Nigeria’s constantly changing economic environment.

How FlexiCredit Compares to Regular FairMoney Loans

FairMoney already offers a wide range of financial services. Here’s how FlexiCredit compares:

FlexiCredit is the closest thing to a bank overdraft but far more accessible.

Who Is Eligible to Apply for FlexiCredit?

FairMoney has outlined clear requirements to ensure responsible lending:

✔ Must earn at least ₦250,000 monthly

Only salaried professionals or consistent income earners qualify.

✔ Must maintain a good credit score

This includes repayment history with other lenders or credit institutions.

✔ Must complete Level 2 KYC on the FairMoney App

This requires identity verification, BVN, and personal details.

✔ Must link a verified salary account

The linking process allows FairMoney to conduct real-time income verification.

✔ Must activate the credit line within 14 days of approval

If not activated, the offer becomes invalid.

✔ Must make first withdrawal within 60 days

This ensures account activity and maintains the credit line based on FairMoney’s risk policies.

These requirements help FairMoney reduce risk and offer higher loan amounts responsibly.

Other Popular FairMoney Products Worth Mentioning

FairMoney has built a full ecosystem around digital banking. Key offerings include:

1. FairMoney Personal Loan

Small to medium loans used for emergencies, bills or business support.

2. FairSave

A savings feature that rewards users with competitive interest.

3. FairMoney ATM Card

A debit card for everyday spending, transfers and withdrawals.

4. Bill Payments

Airtime, electricity, TV subscriptions and more.

5. Business Loan Features

Designed to support SMEs with working capital.

6. FairLock Savings

A fixed saving option with higher interest returns.

FlexiCredit now stands at the top of this ecosystem as the most premium lending solution.

How the FlexiCredit Application Process Works

Applicants can apply for the FlexiCredit credit line through the FairMoney app in the following steps:

1. Download or update the FairMoney app

2. Complete Level 2 verification

3. Navigate to the FlexiCredit section

4. Fill in the application form

5. Link your salary account for instant verification

6. Wait for the system to review your financial profile

7. If approved, activate your credit line within 14 days

8. Withdraw funds when needed

FairMoney ensures that the verification and approval processes comply with CBN guidelines and the NDPR data protection standard, giving users more confidence in the safety of their financial information.

Why FlexiCredit Matters for Nigerian Professionals and Entrepreneurs

FlexiCredit fills a major gap in Nigeria’s lending market. Many salary earners and small businesses struggle with:

• Sudden financial emergencies

• Unpredictable cash flow

• Short debt repayment windows

• High interest on instant loans

• Repeated loan applications

• Delays in approval from traditional banks

With FlexiCredit:

• Users can support their businesses

• Entrepreneurs can take advantage of opportunities quickly

• Families can handle emergencies without stress

• Young professionals can manage finances more confidently

• Borrowers can avoid multiple loan apps

This aligns perfectly with NgEmpower.com’s goal of helping Nigerians access financial solutions that support growth, empowerment and long-term stability.

What Users Can Use FlexiCredit For

Nigerians can apply their FlexiCredit line to:

• Clearing urgent bills

• Business expansion

• Salary delays

• Medical emergencies

• School fees

• Equipment purchases

• Monthly cash flow management

FlexiCredit removes the anxiety of waiting for loan approvals when money is urgently needed.

What FairMoney Says About the Launch

Margaret Banasko, FairMoney’s Head of Marketing, highlighted that FlexiCredit was created for Nigerians who want speed, transparency and control.

She explained that the lending product reflects how modern professionals prefer to manage money — without complicated processes or unexpected charges.

Benefits of FlexiCredit at a Glance

• Up to ₦5,000,000 credit limit

• Only one application required

• Withdraw anytime

• Interest charged only on the amount used

• Quick and secure verification

• No collateral

• Transparent repayment structure

• Fully digital process

Is FlexiCredit Safe?

Yes. FairMoney operates as a licensed microfinance bank under the Central Bank of Nigeria.
The app follows NDPR data protection standards and does not share user data with third parties.

How FlexiCredit Encourages Financial Empowerment

FairMoney’s goal with FlexiCredit is to:

• Increase financial inclusion

• Provide smarter loan solutions

• Reduce reliance on predatory lenders

• Help Nigerians access affordable credit

• Support entrepreneurship and job creation

This approach aligns with financial empowerment initiatives that NgEmpower.com promotes.