Ferratum Short Term Payday Loan Review

Ferratum Cash Loans

Ferratum Cash Loans

  • No credit checks
  • Borrow up to $1,900
  • Bad credit borrowers OK
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  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • You'll be given a decision on your application from the lender and you could have the money in your account within 24 hours.
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Looking to borrow up to $1,900? Find flexible eligibility criteria and a quick application below.

Ferratum offers short term loans, also referred to as payday loans and cash loans, and you can borrow up to $1,900. Use proceeds from this loan to cover any cash shortfall you have, and know how much you'll have to pay from the start with its transparent fee structure.

The application process is quick and easy, so read the review below to find out if Ferratum's loan is right for you.

Product NameFerratum Cash Loans
Minimum Loan Amount$500
Maximum Loan Amount$1,900
Initial Maximium Loan Amount$1,900
Arrears Fee$38.50
Loan Termup to 6 months
Turnaround timeSame day - conditions apply
Costs20% of borrowed amount + 4% of borrowed amount each month
RequirementsYou must be over 18 and have your own email address, mobile, phone number and a bank account.
Available to Centrelink Borrowers?Yes


  • Long loan terms
  • Available to Centrelink borrowers
  • No credit checks


  • High collection costs
  • Aged 18+
  • Australian citizen or Australian permanent resident
  • Have a regular income

Main points to consider about a short term loan from Ferratum

You can look apply for a loan amount between $500 and $1,900 online with Ferratum. Conditional approval is quick, after which you have to upload the required loan documents.

If you are approved at this stage you will receive your funds in about one hour. Repayments are automatically direct debited on the day you choose, which needs to be in accordance with your payment plan. Loan terms vary between 30 days to 6 months

The features that a Ferratum loan offers

Ferratum offers a number of convenient features with its loans, including:

  • Low minimum amount. With the Ferratum payday loan, you can borrow just as much as you need. Apply for a loan as small as $500.
  • Variable loan terms. You can choose loan terms up to 6 months. This gives you the ability to repay the loan according to your pay dates.
  • Easy application and quick decision. You can apply for this loan using your smartphone and the process is quick and easy to follow. Submit your application at your own convenience at any time of the day or night and expect a response within minutes.
  • Use funds for any purpose. You can apply for this loan and use the proceeds for different purposes such as paying for car repairs or medical bills, taking a holiday or simply getting by a temporary setback.

How much do Ferratum loans cost?

Ferratum has a transparent fee structure which is outlined below. Remember to confirm all fees and charges in your contract before agreeing to it to ensure you will be able to afford the repayments.

Fees you will pay:

  • Establishment fee: 20% of borrowed amount
  • Monthly fees: 4% of what you borrowed, paid monthly

Fees you might pay:

  • Dishonoured payment fee: $38.50 per instance
  • Missed payment fee: $38.50 once-off fee
  • Collection transfer: $47 once-off fee
  • Default notice/letter: $10 per notice/letter (applied at 7, 14, 21, and 30 days)
  • Debt management fee: $50 once-off fee

How you can apply

You can apply for a Ferratum loan online using your computer or smartphone. You can get started by clicking on the "Go to Site" button. Ferratum has flexible lending criteria and does not perform credit checks. However, you will need to meet the following criteria to be able to apply:

  • Be over the age of 18
  • Earn a regular income
  • Be an Australian citizen or permanent resident

Completing the application successfully requires that you have the following information on hand:

  • Personal information including your name, driver's licence and contact details
  • Details about your day-to-day expenses as well as all existing liabilities
  • 90 days of your bank statements

Ferratum loans can help you get by your immediate need for money, but since there are a number of other similar offerings out there, take some time to compare short-term loan options.

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102 Responses

  1. Default Gravatar
    KirstenJanuary 9, 2019


    Can I apply up too $1900 if I’m self-employed?

    • Avatarfinder Customer Care
      JeniJanuary 11, 2019Staff

      Hi Kirsten,

      Thank you for getting in touch with finder.

      If you’re applying for Ferratum short-term payday loan, kindly check the application requirements on this page and make sure that you have some required documents handy such as bank statements. When you’re all ready kindly click the “Go to Site” button to be redirected to their official to start your online application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      You may also check out this page to know your personal loan for self-employed options.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


  2. Default Gravatar
    BHJuly 19, 2018


    I was made bankrupt in March 2016 and will discharged next year.

    I am in full time employment and earn 130k p.a. My car needs repairs at a cost of $1,980.

    Could I successfully get a Loan for this?

    • Default Gravatar
      JoelJuly 20, 2018

      Hi there,

      Thanks for leaving a question on finder.

      As long as you earn a regular income, over the age of 18 and an Australian citizen or permanent resident, you will be eligible to apply for a loan from Ferratum. To get started, please click HERE.

      If you are looking to compare companies who can help borrowers who are bankrupt, please click HERE.


  3. Default Gravatar
    DavoMay 1, 2018

    Short term quick repayment loan!

    • Avatarfinder Customer Care
      JhezMay 1, 2018Staff

      Hi Davo,

      Thank you for your comment.

      Ferratum also offers short term loans and the application process for this is also quick and easy. Before submitting an application, make sure that you meet the eligibility criteria.

      You may also check other lenders that offer short term loans here.


  4. Default Gravatar
    KSeptember 16, 2017

    If someone is currently bankrupt but needs a loan such as this for minor assistance, does the fact that they don’t do a pre-application credit check also mean that a successful completion wont be reported to help towards rebuilding your credit history or do they still report paid in full/no defaults and defaults in the usual way as all other lenders do?

    • Default Gravatar
      DanielleSeptember 17, 2017

      Hi there!

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      It will be reported. Your credit file is a detailed record of your credit history, and as such will include details of any payday loans you have applied for or taken out. Find out more here.

      I hope this helps.


  5. Default Gravatar
    JamesAugust 3, 2017

    Hi, I’m receiving a pension and need to borrow $1000-1500 for vehicle repair, would I qualify? Thanks

    • Avatarfinder Customer Care
      RenchAugust 3, 2017Staff

      Hi James,

      Thanks for reaching out to us. Please note that we are not affiliated with Ferratum or any company we feature on our site and so we can only offer you general advice.

      If you are trying to inquire with Ferratum, you may click on the green ‘Go to Site’ button on this page to get in touch with them. You can also have a look on this page for more options that you can compare.


  6. Default Gravatar
    SymoneJune 26, 2017

    How long does it take once approved?

    • Default Gravatar
      LiezlJune 26, 2017

      Hi Symone,

      Thanks for your question.

      Once approved, you could have the money in your account within 24 hours. However, if this happened after normal office hours, your nominated financial institution may delay the payment until the next business day. It will be a good idea to check the processing times of your bank before you apply for a loan with Ferratum Australia.

      Warm regards,

  7. Default Gravatar
    selenaJune 12, 2017

    Hi I have just come out of bankruptcy and looking for a small loan on centerlink payments. thankyou

    • Avatarfinder Customer Care
      DeeJune 12, 2017Staff

      Hi Selena,

      Thanks for your question.

      You may compare your loan options here.

      Kindly note that other eligibility criteria apply. Please do check also the relevant terms and conditions of the loan product you are interested in before submitting your application.


  8. Default Gravatar
    JoshJune 8, 2017

    Hi I just started a new job and need help with bills could I get a loan thankyou

    • Default Gravatar
      DanielleJune 8, 2017

      Hi Josh

      Thank you for your question and for contacting finder.com.au. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You can apply for a Ferratum loan online using your computer or smartphone. You can get started by clicking on the “Go to Site” button. Ferratum has flexible lending criteria and does not perform credit checks. However, you will need to meet the following criteria to be able to apply:

      – Be over the age of 18
      – Earn a regular income
      – Be an Australian citizen or permanent resident

      For other loan options, you may refer to this page. You also have the option to speak with a specialist.

      I hope this helps.


  9. Default Gravatar
    MeganMay 11, 2017

    I am currently on Centrelink and not working. Will I be approved if I apply?

    • Avatarfinder Customer Care
      DeeMay 11, 2017Staff

      Hi Megan,

      Thanks for your question.

      Ferratum Short Term Payday Loan is available to those receiving Centrelink.

      You may also check this page to compare other lenders that may consider you for a loan.


  10. Default Gravatar
    ColmFebruary 21, 2017

    Can I apply for a loan with another pay day loan??

    • Avatarfinder Customer Care
      DeeFebruary 21, 2017Staff

      Hi Colm,

      Thanks for your question.

      With Ferratum, you can only have one loan at a time. Your first loan must be paid back in full before you can apply for another one.

      You may want to check this page to compare other short term loans.


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