Ferratum Loan | Requirements | Interest Rate and How to apply

Need a loan? Learn how to get one with Ferratum loan in Nigeria. But before then, here are the things you need to know before seeking for a loan on Ferratum.ng.

Ferratum is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices.

Ferratum loan in Nigeria

Founded in 2005 under the name "Ferratum Group" and headquarters in Helsinki, Finland. Since it's inception, Ferratum has expanded rapidly to operate in 25 or more countries across Europe, Africa, South and North America and the Asia-Pacific region.

Table of Contents
  • Ferratum loan Nigeria
  • How it Works
  • Ferratum loan USSD Code
  • Requirements
  • How to get a loan
  • Interest rate
  • Loan limits
  • Why your loan offer was declined

Ferratum Loan Nigeria

Ferratum loan Nigeria offers quick and instant and loans up to N10,000 to individuals who are either salary earners or business owners who lives and works in Lagos, Nigeria.

If you lives in other states in Nigeria am sorry to announce that you can't get a loan on Ferratum. But don't be discouraged, their are other money lending platforms that offers quick, instant and emergency loans in Nigeria you can check it out here.

How Ferratum Loan Works

  • With your mobile phone, dial the ferratum loan USSD code.
  • Accept it's term's.
  • Register by creating an account.
  • Apply for loans.
  • Receive your loans instantly.
  • Repay on time.

Ferratum Loan USSD Code in Nigeria

Ferratum loan USSD code in Nigeria is *322*6# which can be used to access for loans anytime, anyday.

Ferratum Loan Requirements

Before applying for a loan, you are expected to provide/have these requirements:
  • You must be a salary earner or business owner.
  • You must be 18years and above.
  • Last, you must live and work in Lagos, Nigeria.

How to get a loan on Ferratum in Nigeria

Ferratum loan

  1. With your mobile phone, dial *322*6# and send.
  2. Accept it's term's and conditions by clicking option 1.
  3. Select "get a loan".
  4. Now, quickly follow the on-screen commands to get your loans.
  5. Loan disbursement takes place within minutes of applying.
  6. Repay on time within 14 day's to access for another loan.

Ferratum Loan Interest Rate

Ferratum demanded it's users to pay 2 fees which are:
  1. Establishment fee - 20%.
  2. Account keeping fee - 4%/month.

Loan Limits

Ferratum loans ranges from N1,000 - N10,000 to repay in 14 days time.

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Why did ferratum declined my loan application

Your ferratum loan application was declined because you did not meet the loan requirements at the time you applied for the loan.

How to repay ferratum loan in Nigeria

Follow any of these steps to repay your loans:


To repay your loan via USSD code, dial *322*1*04309401* repayment fee# and send.

Debit Direct

On your loans due date(s), Ferratum will automatically deducts your loan repayment fee from your debit card linked to your bank account you submitted upon requsting for loans.

SMS Message

To repay your loans, SMS the word "QT HELP" and send it to 32122.

Quick teller

Quick and easy repayments can be made through the quickteller platform at Quickteller.com/ils (choose repayment option: Ferratum).

Ferratum Loan Customer Care Service Number

For issues or support, contact Ferratum by dialing 070073536233 every Monday - Friday at 8am - 5pm.

You can also send a mail at support@interswitchng.com


Ferratum loan in Nigeria is a good platform for your loans needs. Be assured that all the details you choose to share with ferratum can never be revealed to any third party. Borrow funds that you can repay to avoid penalty.

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