Flexi Cash Loan App Review [Is it Even Legit?]

Nigeria is home to many loan apps, and Flexi Cash is just one of them promising low interest rates and longer repayment term. Before you take that Flexi Cash loan, read this Flexi Cash review to help you make a better decision, and know what to expect from this digital lender.

Flexi Cash is owned by Rockit Lenders Nigeria Limited and is run by Blooms Microfinance Bank Limited (BMFB) which is under PalmPay. Rockit Lenders Nigeria Limited has full approval from the FCCPC (Federal Competition and Consumer Protection Commission). They also own the app Rockit App. The address is 1, Court Road, opposite ECWA Church, Karu, Abuja, Federal Capital Territory. The website is rockitlenders.co, which doesn’t open.

Flexi Cash Loan App Review: is it Legit?

Flexi Cash Loan App Review

Flexi Cash might be under a microfinance bank but is not part of the CBN’s supervision list. You can check it here for yourself. We have searched the list of MFBs, can’t find Blooms MFB listed here. However, its customer support says this app is under PalmPay. Now, PalmPay is listed on CBN’s supervision list as a Mobile Money Operator, which you can see here as PalmPay Limited. Under the mergers section, there is also no mention of Bloom’s Flexi Cash.

Considering the FCCPC, Flexi Cash has full approval under the name Rockit Lenders Nigeria Limited – you can verify this in the FCCPC full approval list.

As for the reviews, a lot of loan apps in  Nigeria are notorious for fake reviews, and Flexi Cash is one. Honest reviews don’t lead the ratings to know what’s wrong with its loan app and fix it. Perhaps PalmPay knows what’s wrong but is not ready to fix it.

As for what borrowers have to say, you can summarize it as, “This app is a scam”. But is Flexi Cash a scam? No, this loan app is actually legit, except it has some questionable practices at the same time.

Flexi Cash uses a 500,000 naira loan with a 180-day claim to attract people. After applying for this loan, you may end up with a 7-day loan of 6,200 naira. The explanation will be that you do not qualify for a higher amount due to your credit history.

Before 7 days, Flexi Cash starts contacting you to pay back.

Flexi Cash generally has a bad lending practice. They can lend you 9,000 naira to pay back 13,000 naira in just 7 days. If you are unable to pay the 13,000 naira a week later, they start adding huge overdue payments every day.

Also, this loan app, will, for example, promise you 47,500 naira to pay back 52,000 naira and credit the borrower 38,000 naira, removing 11,000 naira saying it is pre-management.

Turns out this app is owned by PalmPay. If you visit their policy page via h5.rockitlenders.co, its policy talks about contacting PalmPay, and you also have to repay the loan via PalmPay.

We have come across complaints about Flexi Cash’s claim of lending money to people even though such people never applied to borrow from this loan app.

How Does Flexi Cash Work?

You can select a repayment time between 61 and 180 days for your loan. The amount you can borrow here is typically from 2,000 to 500,000 naira at 40 to 50%.

We mentioned an example already. If you apply for a loan of 47,500 naira to pay back 52,000 naira in the app, Flexi Cash will send you 38,000 naira to pay back in 7 days.

As for your repayment, it’ll be done via PalmPay. So, Flexi Cash will require you to have a PalmPay account. We have explained everything about the repayment Here. When it’s time to pay back, all you have to do is fund PalmPay and it’ll automatically repay your debt. You can also manually repay the loan.

How to Apply for Flexi Cash Loan

  1. Download the Flexi Cash app from Google Play or Apple App Store
  2. Sign up with your personal and bank information
  3. Wait for Flexi Cash to run a credit history check on your profile
  4. Submit your loan application

The loan amount will be deposited into your linked bank account or a cooperative third-party MMO wallet account once it is approved.

Note that you must be a Nigerian with an ID card, and between 18 and 55 years old. Flexi Cash also requires you to have a job and a means to pay back this loan.

Pros and Cons of Flexi Cash Loan App

Now, let’s look at both pros and cons as part of this Flexi Cash loan app review.


  • Available on Google Play Store and Apple App Store
  • They actually give loans but it’s nothing close to what they promise online
  • Fully approved by the FCCPC
  • Licensed by the CBN under PalmPay
  • Available on CAC (Corporate Affairs Commission) name search


  • Flexi Cash is a loan shark
  • High interest rate
  • Hidden fee charges
  • 7 days to pay back loan
  • Charges loan interest upfront
  • Charges management fee
  • Flexi Pay does not lend up to 500,000 naira as generally claimed
  • Unrealistic loan limit on borrowers

Is Flexi Cash Loan App Safe?

Flexi Cash has no history of abusing customer information. When you sign up, upgrade your account, or fill out your profile, Flexi Cash will ask for your full name, email, phone number, PIN, address, gender, birthday, and what you do for work or business. It will also need your BVN (Bank Verification Number), ID, some personal documents, and your photo.

If you talk to Flexi Cash customer services through email, live chat, or phone, they can record that conversation. Flexi Cash also tracks information about your phone or device, such as your unique identifiers (IMEI or serial number), SIM card, mobile network, operating system, and browser settings.

Flexi Cash knows when you install or uninstall its app. It’ll also know your location using your device’s GPS.

If you have been treated unfairly and fraudulently by PalmPay’s Flexi Cash, report it to lenderstaskforce@fccpc.gov.ng. Make sure your complaint contains all necessary screenshots of any transactions or chats you have had with the representatives of Flexi Cash.


When you borrow from Flexi Cash, you are dealing with PalmPay. If you feel anything off, just contact the FCCPC as soon as possible. You can also contact your bank to report any unfair transactions. In this review, Flexi Cash gets a 2 out of 5 rating for not being honest about loan amounts in the app to be credited to borrowers.

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