Ferratum – online loan Nigeria
Fast online loans up to ₦10,000 with a 14-day repayment term. Approval in 5 minutes. Available for Lagos residents.
Ferratum Nigeria has ceased operations in the country. The global brand has since rebranded to Multitude Bank, but Nigerian consumer lending services are no longer available through this platform. We recommend comparing alternative lenders below.
Screenshot of https://www.ferratum.ng
Ferratum – Short-term Loans in Lagos
Ferratum provides fast short-term loans for individuals in Lagos State. As a product of Bidellus Nigeria Limited, it offers loans up to ₦10,000 with a simple online application that takes just minutes to complete. The loan is disbursed directly to your bank account within 5 minutes of approval.
How Ferratum works
To get a Ferratum loan, applicants must be residents of Lagos State with a steady income from employment or self-employment. The application is completed entirely online and the decision is made almost instantly. A representative example: loan of ₦1,000 fully repaid after 14 days — total amount payable ₦1,027.66, with a fee of ₦27.66.
Interest rate and terms
Ferratum charges an interest rate of 4% on all loans. Repayment is due within 14 days from the date of disbursement, making it a true short-term payday-style product.
✓ Pros
- Fast 5-minute approval
- Simple online application
- No collateral required
✗ Cons
- Available only in Lagos State
- Short 14-day repayment term
- Small maximum loan amount (₦10,000)
Loan requirements
- ✓ Must be 18 years or above
- ✓ Must live and work in Lagos State
- ✓ Must be employed or self-employed with monthly income
Loan features
- Online loans up to ₦10,000
- Term 14 days
- Approval in 5 minutes
Frequently asked questions
5 minutes after submitting your application.
The minimum amount at Ferratum is ₦1,000.