Personal Online Loans from Ferratum Canada
Personal online loans from Ferratum
A loan fit for all Canadians
Sometimes you need extra money. Fast. That's why we developed our simple and flexible loan service that gives you access to funds quickly.
At Ferratum, our mission is simple – to provide the best, fastest, and most user-friendly lending and banking services available with unsurpassed personal customer service.
Personal loans, also known as short term loans, are extremely useful and can often be the perfect solution when something unexpected happens and you don't have the funds to cover it at the time.
Amount offered for Ferratum personal loans
New Ferratum customers are invited to apply for a fast personal loan between $2,000 and $10,000 with a term ranging between 1 year to 5 years.
It's quick, easy, and completely free to apply.
Decide how much you need from our online loan, the duration you need it for, then hit APPLY to complete your application.
Information required and processing time
Using our sophisticated and advanced technology, it takes just seconds to assess your application for one of our personal loans. A decision will then be displayed on your screen, all in the blink of an eye.
There is no paperwork, no financial statements required, and, since it's all done online, there's no standing in line.
You will pass through several virtual "checkpoints" which will validate your information using bank-grade security. During this process, we will securely verify your mobile phone, your ID, check your credit rating, and your ability to repay the loan on the due date.
At the end of the application, we will ask you to confirm that you wish to proceed with one of our loans. Once you've accepted, we'll begin transferring the funds directly to your bank account. Sounds simple, right?
Our easy application only takes 10 minutes to complete.
Your information is safe with bank grade encryption.
Return your loan if you're not fully satisfied.
When and how you get your money
The money will be sent directly to your bank account of choice usually in under 24 hours. Quite often though, funds for fast online loans reach our customers even sooner!
Please note that before 9am, after 5pm and at weekends or bank holidays, it will take a little longer for you to receive your money.
Repaying Ferratum online personal loans
Our system will base the repayment day on the same day you receive your paycheque. Your details are checked and stored safely until the due date, which is when we'll debit your bank account.
You're welcome to repay your loan earlier and unlike many other banks, Ferratum will not charge you "early payment fees" if you repay your loan early.
Better yet, since interest is calculated daily, if you do manage to repay your loan earlier, your balance will be less.
Applying for an additional personal loan
If you're an existing Ferratum customer who has received and successfully repaid your Personal Loan, you may be eligible to borrow even more directly from your My Account.
At Ferratum, it's that simple.
Come and join the Ferratum family
As an international pioneer in the field of financial technology and mobile lending, we believe in doing things differently.
Simply fill in our online application through our easy-to-use website. Applications are completely free, and after completing one you'll receive a decision within minutes. Once you're approved, you'll get the money you need deposited directly into your bank account.
Since Ferratum is a 100% online bank, this means no waiting in line, no paperwork, and no hassles.
Still have questions?
Talk now to one of our professional Customer Care agents. They are on stand by waiting to assist you with any questions you may have.
Be sure to read our Frequently Asked Questions for a wealth of information related to all things Ferratum Canada.
Available for amazing people living in Ontario, British Columbia, and Alberta. Minimum term: 12 months. Maximum term: 60 months. 40% APR. Example $3,000.00 loan over 18 month term. Estimated payment: $51.10. Cost of borrowing: $1,018.61. Total payback: $4,018.61.