Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Who are Fernovo?

Fernovo are a short term loan provider and they consider themselves to be the “future of online loans”.

Fernovo is a trading name of Quidie limited, which is authorised and regulated by the Financial Conduct Authority (FCA).

What loans are available from Fernovo?

Fernovo offer short term loans, and customers can apply to borrow up to £1,000 over a period of between 2 and 6 months.

What sort of interest rates are available with Fernovo?

Fernovo interest rates are fixed at 292% per year, with a representative APR of 1244%.

As an example of this, if you were to borrow £300 over a period of 90 days, you would make three instalment payments of £150.19, repaying a total of £450.57 – the initial £300 borrowed and £150.57 in interest.

How do you apply for a Fernovo loan?

Loans can be applied for via the application form on their website. Once the application is complete, Fernovo’s NOVOQuote™ decision engine could provide a pre-approval decision within 1 minute.

Are there any late payment fees?

If you are late in paying then you will be charged default interest at a rate of 0.8% per day on the amount of the loan that remains outstanding. Can you repay the loan early?

You are able to repay your loan early by calling Fernovo on 0203 476 5171 – there are no fees for early repayment, and you will only be charged interest for the number of days the loan has been outstanding for.

How soon will Fernovo transfer the money?

If your application is successful and you are accepted for a loan, then you should receive the funds direct into your bank account within 15 minutes of email confirmation that your loan has been approved.

Are Fernovo authorised and regulated by the Financial Conduct Authority?

Yes – Fernovo are authorised and regulated by the FCA under registration number 674141.

What is the best way to contact customer services?

You can contact Fernovo by phone on 020 3476 5171, by SMS text message on 073 7890 5347, or by email on customercare@fernovo.co.uk

Their customer care team are available Monday to Friday between 8:30 and 17:30.

Are Fernovo on social media?

Yes, Fernovo have a Facebook account that can be found at https://www.facebook.com/FernovoGroup/ and a Twitter account that can be found at https://twitter.com/FernovoGroup

Can customers use an app or online account?

There is no Fernovo app, however customers can access their account online 24 hours per day on Desktop, Tablet or Mobile devices.

What are other customers saying about Fernovo?

Fernovo have a profile on popular reviews website TrustPilot and have a review score of 4.6 out of 5, based on 2,135 reviews at the time of writing in July 2022. You can review their current review scores here - https://uk.trustpilot.com/review/fernovo.co.uk

Fernovo summary

Fernovo allow customers to apply for short term loans up to £1,000 to be repaid over a period of between 2 and 6 months.

Loans come with a fixed annual interest rate of 292% per year (representative APR of 1244%).

Fernovo have a positive review score of 4.6/5 according to third party reviews website TrustPilot.

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CashLady Representative 49.9% APR

CashLady Representative 49.9% APR

Representative Example

Amount borrowed: £1200 for 18 months
Number of repayments: 18
Interest rate p/a: 49.9% (variable)
Each repayment amount: £90.46
Total amount repayable: £1628.28

Warning: Late repayment can cause you serious money problems.
For help, go to moneyhelper.org.uk


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