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Who are Ferratum?

The Ferratum group is a world wide company that has been operational since 2005. They have a UK office based in Liverpool.

What kind of loans do they offer?

They offer payday loans of up to 37 days. This is slightly longer than most payday loans on offer. When you repay the loan, you pay off the entire loan amount and interest and any charges in a single payment.

How much can you apply for?

You can apply for up to £300 as a new customer, and £500 as a repeat customer.

How quickly can they supply the loan?

Between Monday to Friday (9am-5pm), Ferratum can arrange for payday loans to be paid into your account within two hours of approval. This may take longer during evenings and weekends.

What do they charge?

Representative Example: Amount of credit £300 for 37 days. Interest £88.80. Interest rate 292% p.a. (fixed). Representative 1190% APR. Total amount repayable by one repayment of £388.80..

How do their charges work?

The charges for payday loans with Ferratum are charged by the day from a minimum of 7 days and a maximum of 37 days. So if you borrow for 10 days, you’ll pay less than if you borrow for 30 days.

What optional charges do they have?

There are no optional charges.

Do they charge penalties?

If you do not repay on the agreed date, you will be charged a £15 late payment fee. For each week after that, up to 45 days, you will be charged another £10 late payment fee. If you have not paid after 45 days, your debt will be sent to an external debt collection agency, and a further charge of £30 will be added to your outstanding sum.

Do they have TV adverts?

Not in the UK.

Licence details

  • Registered in England No: 07349566
  • Office of Fair Trading No: 639266

Money Gap Limited operate and own the credit brokerage site, Money Gap Limited is not a lender nor does it provide credit to consumers. If you decide to apply on this site, your application will be shown to a variety of our lending partners to consider. We receive a commission from the lenders we work with after successful applicants are passed on from this website. Approval is subject to status and all applicants must have reached 18 years of age or older. The information provided on this website is for the purpose of explaining the lending process and should not be considered financial advice.

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