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Revolut has launched its first credit product since becoming a fully licensed UK bank: unsecured personal loans of £2,000 to £25,000, repayable over one to five years. The company says the loans will be offered to a limited number of its 14 million UK customers at first, with a phased rollout over several months. Rates, eligibility criteria and the number of customers included in the initial phase have not been disclosed in the source report.
Revolut has launched unsecured personal loans in the UK, its first credit product since becoming a fully licensed bank in the country, opening a new lending line to a limited group of customers. The loans range from £2,000 to £25,000 and can be repaid over one to five years, according to a company release reported by PYMNTS on October 26.
Revolut said the product will be made available in phases over several months. Access is initially limited to some of its 14 million customers, according to the release. The source report does not identify how many customers will be included at launch or say when the loans will become available to all eligible users.
The loans are unsecured, meaning they are not described as being backed by collateral. Revolut says customers can apply through its service and, if approved, receive funds near-instantly. The company also says borrowers will not be charged for early repayment and describes its rates as competitive. Those are statements from Revolut; the source material does not provide specific rates, fees beyond early repayment, or approval criteria.
Revolut UK CEO Francesca Carlesi said the product is designed to connect borrowing with customers’ existing financial activity in the app. The company says customers can view loan repayments alongside their budgeting, spending and investing. It has not published further product terms in the material provided, including examples of monthly payments or how loan affordability is assessed.
A New Credit Line for UK Customers
The launch adds consumer lending to Revolut’s UK banking business and gives the company another way to serve customers within its app. Personal loans can generate interest income, while placing them alongside existing budgeting and payment tools may encourage customers to manage more of their finances through Revolut. The company has not disclosed expected lending volumes, revenue targets or how the product may affect its UK business, so the financial impact is not yet clear.
For borrowers, the announced range covers loans from £2,000 to £25,000, with repayment periods from one to five years. Revolut’s stated lack of early-repayment fees could matter to customers who want to repay ahead of schedule, but the overall cost of borrowing cannot be judged without published interest rates and full terms. Comparisons with other lenders will depend on those details, as well as eligibility and any charges not described in the source report.
The launch also marks a change in what Revolut can offer under its UK banking operation. Rather than only providing payment and account services, it is beginning to extend credit directly to at least some customers. The phased approach means the announcement does not amount to immediate availability for Revolut’s entire UK user base.
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From UK Licence to Lending
Revolut received its full UK banking licence earlier in 2026, according to PYMNTS. The company had technically been licensed since July 2024, after a three-year wait, but then spent close to two years in a mobilisation phase. During that period, its deposits were limited to £50,000, the report said.
The personal loan launch is described as Revolut’s first credit product since becoming a fully licensed UK bank. It is a distinct step from obtaining the licence: the new announcement concerns a specific consumer lending product, while the earlier process set the regulatory framework for its UK banking business. The source material does not spell out the licence’s detailed conditions or explain how those conditions apply to individual loan decisions.
The PYMNTS report also cited a separate discussion of licensing challenges facing financial technology companies as their services expand. That broader commentary is background rather than a direct explanation of Revolut’s loan launch. The reported development here is the introduction of personal loans and their gradual availability to UK customers.
“U.K. consumers can face unnecessary friction and complex fee structures when borrowing.”
— Francesca Carlesi, Revolut UK CEO, in a company release
Rates and Access Remain Unspecified
The release details the loan amounts and repayment periods but the source report does not state interest rates, representative APRs, total borrowing costs or the criteria used to approve applications. It is also unclear whether other charges apply, beyond Revolut’s statement that there is no fee for early repayment. Without those details, borrowers cannot assess the cost of a loan or compare the offer with alternatives from the reported information alone.
Access will be limited at first, but Revolut has not said how customers are selected, how many will be invited, or whether availability will differ by customer profile. The company has not provided a specific timetable for completing the rollout beyond saying it will take place over several months. It is also not clear whether the announced product terms will change as the rollout expands.
Watch for Wider Availability and Terms
Revolut says it plans to expand access to the loans in phases over the coming months. The next developments to watch are the pace of that rollout, the customer groups that become eligible and whether the company publishes additional loan terms, including rates and eligibility requirements.
Until those details are available, customers who can see the offer in the app will need to review the terms presented to them before borrowing. The company has not announced a date for general availability or provided a public schedule for the next rollout phase.
Key Questions
What personal loans has Revolut launched in the UK?
Revolut has introduced unsecured personal loans ranging from £2,000 to £25,000, with repayment periods of one to five years, according to its release as reported by PYMNTS.
Who can apply for the loans now?
Availability is initially limited to a portion of Revolut’s 14 million customers. The source report does not specify who will be eligible or how customers will be selected.
What interest rates will Revolut charge?
The source report does not provide interest rates or APRs. Revolut described its rates as competitive, but borrowers will need the specific terms shown by the company to evaluate the cost.
Can borrowers repay a Revolut loan early?
Revolut says it will charge no fee for early repayment. The source material does not list other loan charges or provide full contract terms.
When will the loans be available to more customers?
Revolut says the rollout will take place in phases over several months. It has not announced a date for availability to all eligible UK customers.
Source: pymnts.com
