Merratu Group is an international microcredit company. In 2005, Merratu was the first company to use mobile technology in lending in Europe, which allows every customer to apply for a short-term loan easily and conveniently by sending a simple text message.
Currently, Merratu Group is active in finance in 24 countries and is proud of serving more than 1,500,000 customers. We employ more than 300 professionals. Merratu entered the Latvian market as the first short-term lender since 2007 and offers fast loans, credit limits and consumer loans.
The credit comparison table compares the credit company’s loan offer with other lenders, using criteria such as loan amount, monthly payment, credit cost, annual interest rate, maturity. The annual interest rate is calculated on the condition that the borrower re-borrows, so the GPL calculation does not include the activation fee that the borrower pays when registering on the lender’s website.
All the data used in the comparison table is taken from the information available on the home page of the respective credit company. Credit costs, commissions, and other loan terms may have changed, so it’s a good idea to check the credit company’s website before borrowing money.
Credit Extensions and Renewal Policy Information
The Borrower shall have the right to initiate the Credit Extension by paying the Credit Extension Fee to the extent specified in the Credit Extension Offer. You can find out the exact amount of credit extension on your Merratu profile. Merratu offers loan extensions, loan extension information:
- extension of the loan is possible in Merratu’s customer profile;
- extension does not apply to Loan 1;
- the loan may be extended no later than 7 days after the loan maturity date;
- a maximum of two extensions may be granted, but Merratu reserves the right to limit the number of extensions;
- the number of extensions available can be found in your customer profile;
- it is necessary to pay the renewal fee in good time for the extension to take effect.
Who can get Merratu credit
To apply for a Merratu loan, you must have:
- a permanent resident of the Republic of Latvia between the ages of 19 and 75;
- you need a bank account and a mobile phone opened at one of the credit institutions of the Republic of Latvia.
- Evaluate your repayment options and be responsible! Don’t borrow if you don’t need it! Before borrowing, read the terms of the agreement and contact the lender if you have any questions.
Right of withdrawal
The Borrower may exercise the right of withdrawal and withdraw from the Credit Agreement within 14 (fourteen) days, see here for more information.
Information on penalties
In the event of default, the debt recovery process may be initiated, the right of claim transferred to third parties, adversely affecting the Borrower’s credit history and possibly the credit rating, which may result in the service provider being refused. In the case of late payments, a penalty of 1% of the total amount of late payments for each day of delay shall be calculated.
* Example of GPL: $ 500 loan for 12 months, monthly payment of $ 64.50, total amount payable by the consumer: $ 774, GPL 136.85%.
* ($ 200 credit + 90% credit / 200 * 100-100)