Revolut has launched a new personal loan product for its UK customers, marking a significant expansion beyond its existing retail and business banking services. The fintech company, which secured a full UK banking licence earlier this year, is now offering unsecured personal loans ranging from £2,000 to £25,000, with funds transferred within minutes of approval.
The loans, repayable over one to five years, will carry interest rates of up to 29.3 percent, depending on the borrower’s credit history. Revolut has adopted a phased rollout approach, initially making the product available to a limited group of users to collect feedback before a broader release. Eligibility is limited to UK residents.
Francesca Carlesi, chief executive of Revolut UK, emphasized the simplicity and transparency of the new offering, noting the absence of early repayment fees and the integration of the loan service within Revolut’s broader financial app. This integration aims to allow customers to manage their lending alongside everyday budgeting, spending, and investing in one place. Carlesi described the process as designed to reduce the friction and complexity often associated with borrowing in the UK.
Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut has grown from a payments-focused fintech into a full-service digital bank after receiving its full banking licence from the Bank of England’s Prudential Regulation Authority in March 2026. The approval came after a lengthy regulatory process that began in 2021, with Revolut obtaining a restricted licence in July 2024. Throughout the process, Storonsky publicly criticized the slow pace of regulatory clearance.
Revolut’s move into personal loans represents a direct challenge to established high-street banks, seeking to capture market share in Britain’s consumer lending sector by leveraging its digital platform and streamlined service.
The company has enjoyed strong financial performance in recent years, reporting a 57 percent increase in pre-tax profits to a record £1.7 billion in the previous year, alongside a 46 percent rise in revenues to £4.5 billion. Additionally, Revolut’s valuation reached $75 billion last autumn, boosted by significant share sales by employees and investments from prominent backers such as Nvidia, Coatue, Greenoaks, Dragoneer, and Fidelity. Storonsky hailed these developments as evidence of Revolut’s progress in its goal to build a “truly global bank.”
Looking ahead, Revolut has plans to introduce a credit card and enter the mortgage market, further expanding its suite of financial products and intensifying competition with legacy banks.