What is Flexi Credit on PalmPay? All You Should Know

PalmPay, one of the leading fintech companies in the country, offers different kinds of financial services, including loans.

The unique feature that allows PalmPay users to access loans is called Flexi Credit or Cash. With this feature, users can access loans up to ₦500k with a flexible interest rate and repayment plan.

However, to access this feature, users are expected to meet certain requirements. In this comprehensive guide, we’re going to show you how to activate the Flexi Credit on Palmpay and subsequently redeem it for all your transactions.

What is Flexi Credit?

What is Flexi Credit on PalmPay

Flexi Credit is a feature on the PalmPay app that allows eligible users to access loans. Rockit Investment integrated this feature into PalmPay. With this feature, qualified borrowers can access up to ₦500k with an interest rate of 0.3% and a repayment plan ranging from 1 to 2 months.

However, the loan amount may be smaller for new users, and the interest rate may be up to 0.6% for first-time borrowers. Hence, it is crucial to understand the lending terms of the platform before opting for it.

Requirements to Use Flexi Credit on Palmpay

To be able to utilize the Flexi Credit feature on Palmpay, users are expected to meet certain criteria, which are:

  • Have a PalmPay account that is at least 3 months old.
  • An excellent credit score is also needed
  • Must transact with PalmPay account on a regular basis
  • Must have an OK card that has been used frequently.

If you meet these few criteria, then proceed to the next section, where you can activate the Flexi Cash feature.

How to Apply for Flexi Credit on Palmpay

To activate and start using the Flexi Credit on Palmpay, follow the steps below:

  • Sign in to your PalmPay account with your details.
  • On the homepage, tap on the ‘’Finance’’ option.
  • Tap on the ‘’Get Flexi Credit Limit’’ option
  • Input the necessary details, like your name, contact information, and residential address, in the space provided.
  • Wait patiently for PalmPay to automate and calculate your credit score and make the necessary decisions.
  • Finally, your Flexi Credit decision will be shown to you, (i.e) either approved or rejected

At this point, if your credit is approved, the next step is how to use Flexi Credit, and that is what we shall be tackling in the next section. Keep scrolling

How to use Flexi Credit or Cash on PalmPay

Once your Flexi Credit is approved, you can use it to perform different transactions like bill payment, airtime and date top-up, transfer it to another account, etc.

You can follow the simple approach below to use your Flexi Cash:

  • Sign in to your PalmPay app with your details
  • Tap on the ‘’Finance’’ option
  • Tap on the ‘’Flexi Credit’’ tab and see the loan amount that is approved for you.
  • Input the exact loan amount you want to take


The interest rate of between 0.3% and 0.6% will be added to the loan amount. Hence, it is vital to understand it before proceeding with the process

  • Review your loan to know if you’re comfortable with the loan terms and interest rate.
  • If it is okay for you, then click on the ‘’Submit’’ option
  • Finally, the loan amount will be disbursed to our account.

How to Increase your Chances of Getting Flexi Credit Approval

While PalmPay may not approve all the Flexi Credit applications, there are some measures that users can take to increase their chances of getting approval. The measures are:

  • Use PalmPay regularly to perform transactions
  • Opt for the OK card and use it regularly
  • Use the PalmPay app for all your VTU transactions, like airtime top-up, data subscriptions, etc.
  • Build good credit by ensuring that you don’t have an outstanding loan.

Flexi Credit Interest Rate

For new users, the Flexi Credit interest rate is 0.6%. This means that if your loan application is approved for the first time as a beginner, the interest rate is 0.6%, irrespective of the loan amount you opt for. 

For existing users, the Flexi Credit interest rate is pegged at 0.3%. This means that if you’re a returning borrower who has adhered to the loan terms strictly, the interest rate will be reduced to 0.3%.

Flexi Cash  Limit 

The maximum credit limit for Flexi Cash is ₦500,000. This means the highest loan amount that eligible users can take from PalmPay using the Flexi Credit feature is ₦500,000. However, not all the users are qualified to borrow up to this amount since it is reserved for borrowers who have built trust with the platform over the years.


  • Nwibo Calistus

    My name is Calistus. I am a seasoned financial expert with over four years of experience in the financial sector. With a background in accounting and financial management. Throughout my career, I have demonstrated a commitment to empowering individuals and businesses to make informed financial decisions. I am passionate about simplifying complex financial concepts. Which is evident in my published articles that are characterized by clarity, depth, and practicality. In addition to writing, I am also a financial adviser and a consultant. I have been invited to different industry conferences and events where I shared expertise and guidance on financial management and how to scale up businesses. So, if you need writing, speaking engagements, or consulting work, I remain committed to empowering individuals and businesses to achieve financial success and security.

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