Ferratum (now Multitude Bank) is one of Finland’s most established digital lenders, having started operations back in 2005. The company grants loans for both small instant loan needs and larger consumer loans.
Ferratum is known for fast decision-making and a fully online application process.
Who is Ferratum for?
Ferratum suits both smaller instant needs and medium-sized consumer loans. A good choice if you value a long history and a well-known brand.
Features
- Loans €100 – €20,000
- Consumer loan or instant loan
- Entire process online
- Over 15 years of experience in Finnish markets
Pros and cons
+ Pros
- Well-known and financially sound provider
- Wide loan amount range
- Competitive rates on larger loans
− Cons
- Higher effective annual rate on smaller loans
Loan terms
Applicant must be at least 20 years old, have regular income, and clean credit history.
Possible costs
Opening fee €0. Monthly fee approximately €4.50. Effective annual rate 9.9% – 39.9%.
Application process
Application is filled in online, identification with bank credentials. Decision usually comes within minutes.
Repayment
Annuity loan with fixed monthly installment. The loan can be repaid early.
Customer experience
Ferratum's long history in Finland brings customer trust. Users particularly praise the simplicity of the application.
Rate, costs and representative example
Representative example: €5,000 loan, repayment period 36 months, effective annual rate 16.8%, monthly installment approx. €178.
Frequently asked questions – Ferratum
Is Ferratum Finnish?
Ferratum is of Finnish origin and now belongs to the Multitude Bank group, which operates in several European countries.
Can I get a loan without collateral?
Yes, Ferratum loans are always unsecured.
How much can I borrow from Ferratum?
The loan amount is €100 – €20,000.