Revolut launches UK personal loans to challenge traditional banks
Revolut announced it will offer personal loans of £2,000-£25,000 in the UK, with rates from 6.9% to 29.3% APR and near-instant funding.
Revolut is expanding beyond payments by introducing personal loans in the United Kingdom, covering amounts between £2,000 and £25,000 with repayment periods of one to five years. The company promises clear terms, competitive APRs ranging from 6.9% to 29.3%, and fund transfers within minutes after approval, while allowing borrowers to repay early without penalty. Francesca Carlesi highlighted the goal of reducing friction and complex fee structures that many UK borrowers face.
Having obtained a full UK banking licence earlier this year, Revolut also intends to enter the mortgage sector, where it will contend with established lenders like Lloyds Banking Group, Natwest, Santander, Barclays and Nationwide. The move follows a strong financial year for Revolut, which reported a 57% profit rise to £1.7 billion and a 67% jump in subscription revenue, though its per-customer revenue still trails traditional banks.
Why it matters
Revolut's loan launch could reshape UK credit markets by adding a digital competitor to established banks.
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