Description
Ferratum
Ferratum is an online moneylender that provides single payment loans for borrowers.
Their minimum loan amount is N1,000 and the upper limit for a new customer is N10,000 with no collateral or guarantor required.
Loans from moneylenders are designed to be short term loans that are designed to tide you over to the next payday. It is best for anyone looking for an unsecured personal consumer loan, students and individual’s ineligible for typical bank loans due to thin credit files. The Ferratum loan is repaid via
- MOBILE APPs: Visit get.quickteller.com and download the right app for your phone
- SHORT CODE: Simply dial *322# and follow the prompt
- SMS to PAY: Just SMS ‘QT HELP’ to 32122
- USSD Code: *322*1*04309401*Amount to be paid back#
- ATM: Select QUICKTELLER from the ATM menu (Code- 04309401)
Products
- Micro loan – Ferratum soft loan is designed to provide borrowers with cash to meet urgent needs and has a maximum tenor of 14 days. Application is done by dialing *322*6#.
Pros
- Loan decision in less than 1 hour
- Convenient repayment plan
- No collateral
- No guarantor
Cons
- Must live and work in Lagos State
- Low Maximum loan amount (₦10,000)
ELIGIBILITY CRITERIA
- Applicants must be 18years and above
- Must live and work in Lagos State
- Must be employed with salary/self-employed with a monthly income.