Ferratum group in Nigeria

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Ferratum group in Nigeria

Ferratum group was founded by Jorma Jokela in 2015. With headquarters in Helsinki, Finland, the group which is a consolidation of Ferratum Oyj and its subsidiaries is a global provider of Mobile Banking Services, Digital Consumer and Small Business loans; all operated by mobile devices across five continents of the world including Europe, North America, South America, Africa, and Asia Pacific Region.

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Ferratum bank

Rating : instant loan decision, low amount, to clarify, Ferratum is best payday loan specialist
Loan amount : 10 000-50 000naira
Terms : 7-45 days, above all Ferratum is Finish base company

The most important distinguishing trait of Ferratum Group is that it provides simple, real time, global banking services on Mobile platforms. The affairs of the group are managed by a strong team of super achievers in various fields led by the founder, Jorma Jokela.

Ferratum Bank PLC is a fully owned subsidiary of Ferratum Oyj. It is a credit institution licensed by the Malta Financial Service Authority, which therefore empowers it to offer financial services to members of the EEA member states. So far, this license has enabled Ferratum spread its products and services to 12 out of the 25 Countries the group operates in including: Bulgaria, Croatia, Czech Republic, Estonia, France, Germany, Lativa, Norway, Poland, Slovakia, Spain and Sweden. In addition, the bank is regulated by the European Central Bank. To sum up, Ferratum group is around world.

Ferratum Mobile financial platform

Above all else, Mobile Financial Platform is at the core of Ferratums operational growth strategy. The group is a fore runner in innovative digital and mobile financial service technology. Consequently offering financial services such as Digital Consumer and Business Lending Services, White Label, and Partnered Mobile Bank Platforms.

Its mobile platform. Otherwise known as Ferratum Mobile Bank commenced operations in 2015 as a digital bank for smart phones offering services such as Real Time Digital Payments and Transfer’s. Available and accessible via an app.


Ferratum Bank Plc offers a wide range of products and services to meet the unique needs of its clientele. These services are served with speed, transparency and security.

Firstly, the bank offers Digital Lending likewise known as Ferratum Money.

Ferratum money is available to both individual consumers and corporate bodies. That is to say that Ferratum offers a comprehensive product catalogue to retail customers as well as Small and Medium Scale Enterprises. Ferratum money products include.

Consumer loans, similarly referred to as Microloans

Under this scheme. Ferratum offers easily accessible loans to consumers in small amounts ranging from 25 – 1,000 Euros, repayable within 7-90 days.

Plus Loans

Is another interesting product offered by Ferratum Bank PLC. It is similar to microloans but involves higher amounts and longer maturity periods. With this plan, consumers are offered amounts ranging from 3,000 – 20,000 Euros, with 1-10 years maturity period.

Credit Limit

This is a product based on revolving credit. It is revolving because it has no fixed number of repayments and is very flexible. Furthermore, the credit limit is hereby built like credit cards so users enjoy the features of a credit card system but without the card.

Prime loan

The apex of Ferratum Digital Lending products is the Prime Loan. It offers clients access to cash amounts from 3,000 – 20,000 Euros, with 1-10 years maturity period.

Secondly, they offer Banking Services, Ferratum Bank PLC

Ferratum Bank PLC, launched in 2006 is a subsidiary of Ferratum group. The bank is licensed by the Malta Financial Service Authority as a credit institution to provide services such as deposit acceptance across member states of the EEA. Services are offered both online and on mobile devices such as iOS and Android. Though currently available in : Sweden, Germany, Norway, Spain and France. Ferratum Mobile Banking affords you the flexibility of banking as you tour Europe, on your mobile devices or internet.

Ferratum Banking services are second to none in the world. Outstanding services offered include:

  • Multicurrency account feature across Europe
  • Prompt account opening
  • Management of multiple accounts and currencies in all major European currencies
  • Zero foreign exchange fees
  • Free worldwide ATM withdrawals with our ATM card, up to four times a month
  • Inbuilt currency converter
  • Transparency in service

In addition to these services, Ferratum Bank PLC offers savings account with 0.6% interest rate. Helps you save towards a project and in conclusion, offers three, six and twelve months term deposits with competitive interest rates.

Another interesting product offered by Ferratum Group is Ferratum Business.

Ferratum is invested in growing your business with you hence it provides fast and easy working capital loans of up to 250,000 Euros to Small and Medium Scale Enterprises (SMEs). This is done under the product known as Ferratum Business. Ferratum Business is currently available in Finland, Sweden, Denmark, Lithuania, Netherlands, Czech Republic, UK, and Austrailia with plans to expand worldwide.

Digital lending for companies via Ferratum Business was created bearing in mind the hurdles SMEs go through in order to access loans from conventional banking institutions. The flexibility and ease of access to loans makes it more appealing. To sum it up, loan application and disbursement is completed within 24 hours with Ferratum Business.

TCF Bank Nigeria.

Nigeria is one of the 25 states where Ferratum Bank operates. It operates as Ferratum Nigeria under the same principles of the group. Offering the same products, with same management structure. The Nigerian branch is headquartered in Lagos Nigeria.

To be eligible for quick loans from TCF Nigeria, one must be up to 18 years of age and older. An employee or business owner with sustainable income based in Lagos State. Only one account can be maintained per time by an individual or SME.

Loans offer

Loans offered ranges from NGN 1,000 – 10,000.00 only with 14 days repayment period. Applying for loans is easy. You simply dial *322*6# from your smart phone and get prompt response. Follow the steps as directed and that is it! Loans are paid into your local bank account upon approval. Loan applications can be denied in cases where the prospect does not meet the loan application criteria.

For loan repayment, the loan amount is debited from the debit card linked to your local bank account when the loan is due. Apart from direct debit. Other methods of repayment could be used for instance Quick teller via their online portal or ATM, USSD, or short code. Meanwhile, you can only apply for a new loan after completely paying off the existing one. Loan terms once scheduled cannot be extended or rescheduled.

Easy way to make repayment

To pay up your loan before the due date, you can conveniently do so via quick teller (online and ATM), mobile apps, SMS, USSD and short code. Failure to repay outstanding loans may lead to being blacklisted therefore delays in salary payment. It should be reported to the bank beforehand.

Feratum is a socially responsible organization. Social responsibilities are carried out through responsible lending, employee wellbeing and development. Ethical business practices and transparent communication of values for clients and investors.

Ferratum is actually a ‘bank of the future’. Open to partnership with non-financial partners in order to expand its territories. Thereby meeting corporate goals.

More information about company : www.ferratumgroup.com