What is a Personal Loan?

Please select your loan amount and term on the slider below to see how much you'd repay on your Ferratum loan.

Loan amount

Loan amount: X
Loan term: X
Interest: X
Total amount payable: X
Monthly repayment: X

*Minimum loan term - 62 days, maximum - 4 months

Tell Me About It

Personal loans can refer to any loan that is not secured against an asset, such as your home. Banks offer personal loans usually for high amounts and over a period of several years. But, what if you need a smaller amount? Or only need a loan for a short time? A short-term personal loan from Ferratum may be the answer!

Personal Loans From Ferratum

At Ferratum, our mission is simple – to provide the best, fastest, and most user-friendly lending and banking services available with 24/7 personal customer service.

Sometimes you need extra money. Fast. That’s why we developed our simple and flexible loan service that gives you access to funds quickly.

Personal loans, also known as mobile micro loans or text loans, are extremely useful and can often be the perfect solution when something unexpected happens and you don’t have the funds to cover it at the time. 

Amount Offered For Ferratum Personal Loans

New Ferratum customers are invited to apply for a fast personal loan between £50 and £1000 with a term ranging from 2 - 6 months.

It’s quick, easy, and completely free to apply. Decide which of our online loans you need, the duration you need it for then hit APPLY to complete an application form.

Information Required and Processing Time

Using our sophisticated and advanced technology, it takes just seconds to assess your application for one of our personal loans. A decision will then be displayed on your screen, all in the blink of an eye.

There is no paperwork, no financial statements required, and, since it’s all done online, there’s no standing in line. You will pass through several virtual ‘checkpoints’ which will validate your information as you go along. During this process, we will verify your ID, check your credit rating, and your ability to repay the loan on the due date.

At the end of the application, we will ask you to confirm that you wish to proceed with one of our loans and then we’ll send a PIN to your mobile phone. So, you’ll want to make sure you have your mobile handy. Sounds simple, right?

When and How You Get Your Money

The money will be sent directly to your bank account of choice within two hours. Quite often, funds for our fast loans reach our customers even faster!

Please note that before 9 am, after 5 pm and at weekends or bank holidays, it will take a little longer for you to receive your money.

Repaying Ferratum Online Personal Loans

Our system will base the repayment day on the same day you receive your salary and, as part of your application, we’ll ask you to enter your debit card details in our secure Pay Point. Your details are checked and stored safely until the due date, which is when we’ll debit your card. 

You’re welcome to repay your loan earlier and unlike many other banks, Ferratum will not charge you “early payment fees” if you repay your loan early. Better yet, since interest is calculated daily, if you do manage to repay your loan earlier, your balance will be less. 

Customers who wish to repay their online loans earlier can simply let us know by calling 0151 601 8611 and speaking to our Customer Care team. You can also text TAKE PAYMENT to 07860 020302 and we’ll debit your card and send you a receipt within 2 hours. 

Applying For An Additional Personal Loan

If you’re a customer who has secured and successfully repaid one of our personal loans in the past and you wish to apply for another loan, we operate a text service which makes things even quicker and easier.

Say, for example, you’d like to request a loan for £350.00. You simply text NEED 350 to 07860 020302. We will immediately text you our decision and, if approved, you will have the funds in your bank account within 2 hours. Talk about easy!

Oh and since you’re already a Ferratum customer, we’d be happy to now offer you up a fast personal loan up to £1000.00. 

At Ferratum, it’s that simple.

Flexible, friendly, fast personal loans from Ferratum.  Apply today.

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