Ferratum loan - Instant money for everyone without collateral 1

Ferratum loan – Instant money for everyone without collateral

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You don’t have to stop those plans because of temporary money shortage, come on board with ferratum loan.

It could be you are having a hard time paying your utility bills or there is a tendency that if you decide not to pay a particular bill, it could bring about a serious issue.

Are you a retailer? How about supporting your business with the cash made available by ferratum group?

Are you earning a reasonable income every month and also a student in the citadel of learning who is yet to complete payment of his or her school fee? Examination is forthcoming and there has been threat note from the school authority to stop you from taking the exam.

It just does not matter what you need the loan for, all that is important is to have a source of income and a good credit score and you are halfway there.

Ferratum Group is an international finance company that uses digital banking platform to provide credit products to customers who want to tap into a new market or meet their emergency needs.
The company has presence in about 25 countries including Nigeria, UK, and France, and Canada.

Requirements to apply for ferratum loanFerratum loan money

  1. You must be a self-employed or salaried worker with a monthly income.
  2. Applicants must be 18 years and above.
  3. A good credit score is important to get your loan request approved.
  4. Applicants must live and work in Lagos. If you live in other states other than Lagos, contact ferratum through their contact details.

Why ferratum loan?

  1. It is quick and convenient.
  2. Get an instant short term loan without being made to go through documentation.
  3. No guarantor and collateral required.
  4. It can be used for all purposes.
  5. Loan decision in just a few minutes.
  6. Students and self-employed can also apply.

How to apply for ferratum loan?

Here are the steps to get an instant loan:

  1. Dial *322*6# from any mobile phone.
  2. Complete the simple registration process.
  3. Wait for loan approval.
  4. If approved, the loan amount will be sent to your bank account in few minutes.

Why your loan might be declined?

  1. Your loan can be declined when there is no evidence of your source of living.
  2. The credit score is too low.
  3. When you have already been backlisted and your report already with National Credit Bureaus.
  4. It could also be denied based on the conditions guiding the loan as at that time.
  5. When you have a history of defaulting loan.

Ferratum loan amount, tenor and repayment period

Not the best if you are looking for a bigger loan with a longer repayment period, it is just for a quick fix while you await your payday. The loan tenor is just 14 days. Hence, on ferratum, you can only get from N1000 to N10,000.

If you need a loan service provider with longer repayment period, you might need to consider paylater, credit direct or zedvance. It can even get better if you make use of standard chartered loan which can grant you up to 10m with repayment period, not more than 60 months.

How to repay loan

There are quite a few ways to pay back loan. You don’t even need to wait till the due date before paying up your loan.

ATM Option

  • Slot in your card into the Automated Teller Machine (ATM).
  • Tap on “quickteller” on the machine to have your payment processed.
  • Complete the process using their payment code 04309401

USSD Option

  • Dial *322*1*04309401*Amount to be paid back# from any phone. i.e *322*1*04309401*2000#
  • You will receive a response confirming the transaction if you have adequate fund.

Quickteller Option

  • Go to http://www.quickteller.com/ils
    Search for “ferratum” if it does not show up after going to quickteller’s website.
  • Click on “ferratum loan repayment
  • Enter your email and phone number.
  • Use your debit card to make the payment or other payment gateways as found on the site.

Phone Dial Option

  • Dial *322#
  • Follow the instructions on screen to make payment.

SMS Option

  • Go to “message” on your phone or any other sim supported device.
  • Send “QT Help” to 32122 as SMS.

Ferratun loan contact details

Conclusion

Nothing much can be done with the amount allowed by ferratum group, but it is something especially when you need that quick emergency money. What else, it is easily accessible by everyone that even a student and self-employed persons can apply.

Another thing to consider is that anyone can apply from any phone without having to go through the stress of downloading loan app and connecting to the internet.

Like I pointed out, all that is really required of you is to have an income. Other requirements are just secondary.

Also, one might not be able to top up loan, but you can get another immediately you pay off your current debt. Despite the lows, ferratum money is still one of the easiest loans to get because of the low level of risk the company is operating.


About the Author: Ayobami Ola

Hi there! My name is Ayobami and I am a writer. I provide quality reviews and more simplified information about products and services. I am your number one stop source for all you missed.

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