Ferratum offers short term or payday loans from $500 to $1,900, with repayment terms of 3 to 12 months. The applications are online and are entirely automated. Ferratum will ask you a few questions, and respond to your application quickly. While there is no credit check involved, this loan is expensive. Ferratum charges a 20% of borrowed amount + 4% of borrowed amount each month. Payday loans are not a long-term financial solution and should only be used in case of an emergency.
- No credit checks
- Borrow up to $1,900
- Bad credit borrowers OK
100% confidential application
Ferratum Cash Loans
Ferratum offers no credit check payday loans with a fast and easy online application. Apply today to get approved.
- Loan amount: $1,900
- Loan term: 3 to 12 months
- Turnaround time: Same day - conditions apply
- Fees: 20% of borrowed amount + 4% of borrowed amount each month
- Must be 18+
- Must not be receiving benefits
- Confidential and secure!
Are you struggling financially?
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
⚠️ Warning about Borrowing
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
No Credit Check Loans offered from Ferratum
Ferratum group was launched in 2005, as part of a European microloan group and has since broadened its network to Australia. Over 200 professional assist customers to borrow emergency funds when necessary
Ferratum provides microloans as short term cash loans intended to cover unexpected bills or expenses. In Australia, these are also referred to as cash advance or payday loans and can be helpful for people experiencing financial emergencies in circumstances where their options are limited. These loans are not intended to cover a regularly recurring bill. Instead, microloans can be used as emergency cash when people need fast money in emergency situations.
Features of a Ferratum personal loan
- Online approval.
Ferratum’s online application process is straightforward and offers an immediate response - Ferratum's process allows customers to find out their eligibility for a microloan instantly.
- Local customer service team.
Ferratum offers in-house, local support. Also, if customers need to talk to someone about their loan on the phone, they can call the local support hotline within working hours.
- No credit checks.
Ferratum doesn’t investigate their customers' past credit before it approves or denies their loan. The company only uses their current loan situation and bank status to make an assessment.
What are the risks of payday loans?
- Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
- High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
- Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
- Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.
How to apply for a short term personal loan from Ferratum
Customers who wish to apply for a Ferratum loan can click "Go to Site" to start their application. First, they should make sure that they meet the following criteria:
- Over the age of 18
- Earn a regular income
- Australian citizen or permanent resident
Loan applicants can fill in their personal details on the online application form along with their bank information. The form is quick and easy to complete, they'll need to complete their personal details, along with their loan term and loan amount.
If approved, Ferratum will notify customers via SMS. Successful applicants can agree to the contract by replying with "yes". They will then be contacted for more information about their bank details and payment slips. Those can be supplied to Ferratum by fax or email.
Depending on each customer's individual bank, the funds could be in their account the same day.