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Ferratum Revolving Credit Loan

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Line of credit loans offer financial flexibility and unlimited withdrawal transactions.

The Ferratum line of credit loan offers flexibility in borrowing. Instead of borrowing a fixed amount, you have a borrowing limit. This allows you to withdraw funds as needed and stay below the limit if possible. Ferratum offers line of credit loans between $500 and $3,500, which can be repaid in any number of instalments. If you need continued access to funds, consider a line of credit loan from Ferratum.

0.4196% daily interest

Loan Interest


Maximum Loan Amount

$500 per month

Minimum Income

Ferratum has suspended its lending activity in New Zealand and is no longer offering loans to new applicants.

Pros and cons


  • Withdraw as many times as needed
  • No interest charged on unborrowed amounts


  • Variable interest rates
  • Low ceiling on borrowing

Main points to consider with Ferratum Revolving Credit Loan

Ferratum offers line of credit loans between $500 and $3,500. You can make as many withdrawals from your credit limit as you like and make repayments as you go. You will be charged interest monthly on the money you owe.

Features of a line of credit loan from Ferratum

  • Varied interest rates. Your interest rate will vary depending on how much you borrow, how much you owe and the interest rate of the day.
  • Loan limits. You will be able to borrow between $500 and $3,500 with a Ferratum Revolving Credit Loan. You will be approved for a certain amount, which will become your borrowing limit. You don’t have to draw down your entire limit. If you’re approved for $2,000 and only spend $1,000, you will only be charged interest on the $1,000 you use.
  • Flexible withdrawals. Once you’re approved, you can make withdrawals of any size whenever it suits you. For example, if your limit is $1,000 you can withdraw that amount in 1 lump sum or take out $100 a day for 10 days.
  • Access to funds. Once you draw down from your credit limit, the funds should be available in your account within two hours.
  • Monthly minimums. Your loan will have a monthly minimum repayment. This amount is either the interest due plus 5% of the capital borrowed or $50, whichever is larger.
  • Flexible repayments. You can make repayments whenever you like. Repayments are cleared between 9am and noon on the following business day.
  • Closing your credit line. If you wish to close your account you’ll need to call Ferratum customer support.
  • Online application. You can apply for a line of credit loan on Ferratum’s website. You can make an application at any time of day and the process is entirely online.

How much does the loan cost?

The total cost of your loan will depend on your line of credit limit, how much you draw down from that limit and how long you take to make repayments.

The following fees may apply to your loan:

  • Establishment fee of $23
  • Default and missed payments fees

How to apply for a Ferratum Revolving Credit Loan

You can apply for a Ferratum loan by clicking the green “Go to site” link on this page. To be eligible you must, at a minimum:

  • Be 21 years of age or older
  • Be a resident of New Zealand

When applying for a loan you generally need to provide:

  • Proof of identity. You will have to provide identification, as well as your phone number and email address.
  • Proof of income. Ferratum will review your credit history and bank statements when it is reviewing your application.
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