Ferratum Loans

Ferratum focuses on being a mobile-focused lender in the short-term loan market. Special attention is paid to the development of mobile-friendly sites and applications, though web-based access is also supported. In order to better support customers, support can be reached 24/7 through via SMS text message and online, with additional support being available through the telephone and the post.


Additional focus is placed on professionalism and ethics. The goal is to function as a responsible lender through a commitment to openness and transparency. With that in mind, only those with current employment can apply for a loan through Ferratum. Further, minimum credit standards must be met and affordability checks must be conducted before a lending decision will be made.


All applications are processed online, with most lending decisions being reached within a few minutes. When approved, funds are transferred directly into the borrower’s bank account, with most receiving their funds within two hours.


Microloans are available in amounts ranging from £50 to £500, though new borrowers are limited to a maximum of £300. After a business relationship has been established, borrowers may be given the opportunity to receive funds through the PlusLoan. The PlusLoan is an instalment loan product. Amounts between £300 and £1,000 can be requested, with the option to repay over various time periods, up to six months.

Ferratum Loans Criteria

Age Requirement 18
Debit Card Yes
Credit Checks Yes
Same Day Transfer Available Yes
Loan Value Available £300 – £700
Representative APR 1281.8%
Loan Length 1 Month to 4 Months
FCA Registration Number 07349566

Representative example: APR 1270% if borrowing £400 for 4 months. Interest rate: 292% p.a. (fixed). Total amount repayable: £665.48 by four instalments of £166.37

Ferratum Loans Review

Ferratum offers lending options for those interested specifically in smaller loan options. This can be ideal for those who are experiencing a small cash flow issue that they expect to have remedied in the near future. Additionally, it can be more cost effective for those who are facing a potential overdraft situation and expect to be able to repay the borrowed amount in full when they receive their next salary payment.


The application process is particularly quick, allowing some potential borrowers to complete the forms in as little as two minutes. Applications are processed seven days a week, and funds can be received on the same day on which you are approved for the loan, sometimes in as little as two hours. This can be helpful to those who experience a financial hardship outside of traditional banking hours and require assistance immediately.


Early repayment is always an option and has no associated fees. Interest is calculated on a daily basis, so early repayment provides borrowers with the opportunity to pay less in interest over the life of their loan. Standard repayment is expected in one to six months, depending on the amount borrowed and the agreed upon terms.