Ferratum Loans

Who are Ferratum?

Headquartered in Finland, the Ferratum group is a worldwide provider of online loans, spanning 23 countries and serving over 1.6 million customers. Operational since 2005, the company has a UK registered office, which is based in Liverpool.

Ferratum offers payday loans, which they refer to as ‘short term cash loans,’ ‘mobile micro loans’ and ‘text loans.’ They also provide instalment loans, which they call ‘PlusLoans.’ These have a longer duration than payday loans, which are intended to tide you over until payday.


What is the duration of a Ferratum loan?

Ferratum loans have a minimum duration of seven days and a maximum of 37 days, which is slightly longer than many other payday loan providers.

If you choose to take out a ‘PlusLoan’ this will have a minimum duration of two months, up to a maximum of six months for existing customers, and four months if this is your first time borrowing with Ferratum.

How much credit can you apply for?

New customers can apply for a short-term loan of up to £300 and an installment loan of up to £500. Repeat customers (who have demonstrated a good payment history) can apply for up to £500 for a short-term loan.

You may be invited to apply for up to £1000 if you have previously taken out, and fully repaid, a loan from Ferratum, plus meet their specific lending requirements.

with Ferratum you can apply for a payday loan of up to £500

What is Ferratum's loan application process?

Ferratum loans are only available by applying online. Once you have applied the first time, by completing a simple application from, you can make subsequent loan applications via the Ferratum website by logging into your account or by sending a text message.

What are the requirements?

You must be employed to be considered for a loan from Ferratum. An email address, mobile phone, bank account and a debit card are also required as part of the application process.

How quickly will I receive my loan from Ferratum?

You should receive a decision within minutes of submitting your online application. If successful, Ferratum will arrange for the funds to be paid into your bank account within two hours, as long as you apply Monday to Friday during the hours of 9am-5pm. It may take longer to receive your loan during evenings and weekends.

What do Ferratum charge?

Interest is charged at 0.8% per day, which is the maximum that payday loan providers may charge as per Financial Conduct Authority (FCA) regulations

Representative 1270% APR. Representative Example: Amount of credit £300 for 37 days. Interest £88.80. Interest rate 292% p.a. (fixed). Total amount repayable by one repayment of £388.80.

you won't be charged more than 0.8% per for any type of a credit solution

How much will you repay?

The daily interest of 0.8% is due for each day that you have the loan, with a minimum period of seven days and a maximum of 37 days.

This means that if you borrow for 10 days, you’ll repay less than if you borrow for 30 days. For example, a loan of £100 borrowed for 10 days will cost £108.00 to repay. £100 over 37 days will cost £129.60 to repay.

Do Ferratum charge penalties?

If you fail to repay your loan on the agreed due date, then you will be charged a £15 late payment fee. The interest of 0.8% is calculated and added daily, up to 60 days past the due date. There are no charges for early repayment.

Can I repay my Ferratum loan early?

It is possible to repay your Ferratum loan early and without penalty, if you meet the minimum loan term. This is seven days for payday loans and 62 days for ‘PlusLoan’ instalment loans. Repaying early will reduce the amount of daily interest due and therefore the overall amount that you pay for borrowing from Ferratum.

Will Ferratum run a credit check?

As a responsible lender, Ferratum will run a credit check as part of the loan application process. They specify that they only accept borrowers with a clean credit file, although their decision about whether to lend you money is based on many factors, including your age and address history.

What help and support do Ferratum offer?

contact Ferratum customer support team to find out more about payday loans

Registered customers can email and text their queries to Ferratum, while both new and existing customers can contact their UK customer care team by telephone from Monday – Saturday.

Where can you find online reviews of Ferratum?

Ferratum works with leading business online review community Trustpilot, to provide access to reviews from genuine customers to help you gain a better understanding of the level of service that you can expect from this lender.

What are Ferratum’s FCA registration details?

Ferratum is authorised and regulated by the FCA, reference number 672537. Ferratum are authorised to:

  • Enter into high-cost short-term credit as a lender
  • Enter into regulated credit agreements as a lender (excluding high-cost short-term credit, bill of sale agreement, and home collected agreement)
  • Exercising or having the right to exercise the lender’s rights and duties in relation to high-cost short-term credit.
  • Exercising/ having the right to exercise lenders rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected agreement).

Applying with CashLady

A benefit of applying for personal credit through a broker, like Cashlady is that we work with a panel of lenders, meaning your loan application will be seen by many loan providers quickly– not just one. By giving you more options, we can greatly improve your chances of getting your loan approved. It can also mean reducing the number of credit checks on your file – which should help you if you need to apply for credit again at some point in the future.

Below is a quick comparison table, highlighting the difference when you apply for a loan with CashLady rather than going directly to Ferratum:

Cash Lady Ferratum
Representative APR% 1272 1270
Loan Duration Up to 12 months 7 days to 6 months
Repay Early Yes Yes
Panel of Lenders? Yes No
Loan Options (Number of Lenders) 15 1

How to contact Ferratum

You can telephone the Ferratum UK call centre on 0151 601 8611 or write to them at:
Suite 318
25 Goodlass Road
L24 9HJ

I have read and accept CashLady's
  Privacy Policy and Website Terms
I wish to opt in to SMS and email marketing.
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
Secured By Comodo EV SSL members of the CFA

Customer Satisfaction & Reviews

CashLady is rated 4.5 stars by Reviews.co.uk and Smart Money People based on 2350 merchant reviews

CashLady.com is not a lender but is a fully regulated and authorised credit broker which introduces borrowers and lenders for the purposes of entering into short-term unsecured loan agreements. CashLady.com does not charge customers a fee for using its broker services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website. CashLady.com is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioners Office, (registration number ZA007309) *Once approved, your cash could be sent within 10 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures. Loans available to over-18s only, subject to status © CashLady.com 2019