Customers can apply for a Ferratum credit line online, either through the website as new customers or through their customer profile if they have applied before. Applicants must be permanent residents of Latvia, aged 19–75, have regular official income in Latvia, a personal email address, Latvian mobile number, and a personal bank...
A discount code gives customers a discount on interest payments for a specific period. Each code has its own expiry date and discount amount, and it may not be valid if it has already been used, has expired, or the loan amount does not meet the code conditions.
Ferratum does not offer loan consolidation. Customers can apply for a loan and, if approved, use it to repay other existing loans.
A consumer loan is a fixed-term loan with a repayment schedule. Customers can choose a loan amount from €2,000 to €15,000 and a repayment period of 12 to 84 monthly payments, with an 8% contract fee applied to the loan amount and repayment dates available on the 1st or 15th of the month.
A credit line cannot be converted into a consumer loan. If the customer has an active credit line and wants to apply for a consumer loan, they must first repay and close the credit line, then submit a new consumer loan application.
A credit line is an open-ended loan with no fixed repayment schedule. Customers receive a monthly invoice by email showing the full repayment amount, calculated interest, and minimum payment, and they can choose how quickly to repay by making larger payments to reduce the loan faster and pay less interest.
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