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Who are Ferratum?

Ferratum is a direct lender and provider of short-term loans which they refer to as ‘microloans’. They are headquartered in Helsinki, Finland and were founded in 2005. Since then, ferratum have expanded across multiple countries across the world and currently operate in 25 countries. They promote themselves as responsible lender who use technology to make applying for short-term loans a simple experience.


How much can I borrow?

You can borrow between £300 and £700 with Ferratum.

What are their repayment terms?

Loans can be repaid anywhere between 2 and 4 months – the minimum loan term is 32 days.

How much interest will I have to pay?

Ferratum’s representative APR is 1270%, with a daily interest rate of 0.80%.

Based on this rate of interest, if you borrow £400 for 4 months with a fixed annual interest rate of 292%, you would have to repay four instalments of £166.37, creating a total repayable amount of £665.48.

Do Ferratum charge any late payment fees?

There are no fixed fees applied but Ferratum state late payment may mean interest will continue to be charged and capped at double the amount of the original amount.

How quickly will I get the money?

Ferratum use the Faster Payments Scheme, which means pay outs usually occur within 2 hours between 9-pm during weekdays.

How can I apply for a Ferratum loan?

Minimum requirements for a Ferratum loan ask you to be:

  • 23-years-old or older
  • In employment
  • The owner of a UK mobile number and email address
  • Able to show good credit history
  • The owner of a bank account and linked credit card

Once you have completed the online application form, Ferratum will ask you to provide income and expenditure details to ensure you meet their affordability requirements.

Can I repay a Ferratum loan early?

You can choose to repay part or all of your loan early without being charged additional repayment fees or similar costs. Contact the customer service team (full details below) to find out how.

How can I contact the customer service team?

Call the customer care team on 0151 601 8611, who are open Monday to Friday 8am to 5pm.

General enquiries can also email

Registered customers can also text 07860 020302.

Is there a Ferratum app?

There is no Ferratum loan app currently available.

Do they provide an online account?

Yes, customers will be given their own login details and online account to manage their loan and make payments.

Are Ferratum on social media?

Twitter: @FerratumGroup
Facebook: Homepage

Can I see Ferratum loan reviews online?

There are some Ferratum loan reviews on Trustpilot, which has an ‘Average’ rating of 3.6/5 based on 868 reviews, as of March 2020.

Are Ferratum regulated by the FCA?

Ferratum are regulated and authorised by the FCA and have been since 22/02/2016. You can see full company details on the FCA register.

Ferratum summary

Ferratum’s high-cost, short-term loans allow customers to borrow between £300 and £700, with repayment terms set between 2 and 4 months. The representative APR is 1270%, with a daily interest rate of 0.80%.

While there are no fixed-rate charges for a missed payment, interest may continue to be charged and is capped at double the original figure. Loans can also be repaid early without having to pay additional fees.

There is no app available for mobiles, but customers will have access to an online account area to manage their loan.

To apply for a Ferratum loan they ask that you are:

  • Aged at least 23 years
  • Currently working
  • In ownership of a UK mobile and email address
  • Able to show good credit history
  • The owner of a bank account and linked credit card

Ferratum have a Trustpilot rating of 3.6/5 and are fully authorised & regulated by the FCA.

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.
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