How do your personal loans work?
Customers can apply quickly and conveniently online, or through their mobile device for installment loans up to $10,000 with terms between 12 and 60 months. These loans are personal loans and are paid back through direct debit. We offer weekly, bi-weekly, semi monthly and monthly repayments.
Our loans can be paid off partially or in full with no penalties. Ferratum also has no hidden fees or charges. You will only be charged the interest on the money borrowed.
Unlike many other personal loan lenders in Canada, our service is 100% online and automated utilizing bank grade security and encryption, so you can apply 24/7 and receive a decision in minutes.
After you've accepted our offer, your loan is deposited automatically into your bank account. You can read more about our loan process here.
Lastly, we are confident you will love our service and process but if not we have a 100% guarantee if you decide you do not want to take the loan after you have received the funds. Read more about our loan guarantee.