Updated on 13 November 2019
Ferratum Bank was incorporated in Malta in September 2012 in order to provide additional funding sources and business opportunities to its parent company, Ferratum Group (Finland). Ferratum Group provides internet and mobile micro-loans, amongst various other services, across a number of countries. It offers fast and readily available banking services, loans and savings both online and on mobile devices.
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Car loans are secured or unsecured loans provided to customers for the purpose of purchasing a new or used car. Used cars private purchases are financed as a rule with unsecured loans, while the purchase of new cars - via secured loans with the car used as the loan collateral. In terms of repayment, car loans are normally installment loans (i.e., such a loan is repaid in equal installments until the loan is paid off at the end of its term).
The table above shows essential details of selected car loans offered to retail customers by the banks in Malta: currency, effective rate per annum and loan term in months. The car loans terms vary from 12 month to 7 years (84 months). The effective borrowing rates are within the range 5.45 - 17.25 %.