Revolut Enters UK Personal Lending Market With Loans Up to £25,000, Eyes Credit Cards and Mortgages Next
Revolut Enters UK Personal Lending Market With Loans Up to £25,000, Eyes Credit Cards and Mortgages Next #
Revolut has launched unsecured personal loans in the UK, offering between £2,000 and £25,000 through its app. It is the digital bank’s first credit product since it received its full UK banking licence.
The fintech, which has roughly 14 million customers in Britain, is initially rolling out the product to a selected subset of users before expanding access over the coming months, according to UK chief executive Francesca Carlesi. Annual percentage rates run from 6.9% to 29.3% depending on individual circumstances, with a representative APR of 6.9% on loans of £7,500 and above. Repayment terms span one to five years, with no early settlement fee.
Carlesi told Reuters that the application and repayment process is entirely in-app and that approved borrowers typically receive funds within minutes. The company is also supplementing its underwriting with external data providers. “We’ve built a transparent and simple loan process with near-instant funds on approval, no fee for early repayment and competitive rates,” she said, adding that borrowers currently face “unnecessary friction and complex fee structures” when seeking credit elsewhere.
On risk management, Carlesi said Revolut plans to offload a significant portion of its loan book through securitisation, keeping its loan-to-deposit ratio close to 6%, well below that of traditional banks. The company does not have a specific lending volume target for the UK at this stage.
The launch puts Revolut in direct competition with established high-street lenders including Barclays, HSBC, Lloyds, NatWest and Santander UK, which dominate consumer credit in Britain. Revolut already offers loans in several other countries, but the UK is its home market and one of its largest customer bases globally.
Carlesi said personal loans are the first stage of a broader credit expansion. The bank plans to launch a credit card in the near future and has longer-term ambitions to enter the UK mortgage market, where it would compete against some of the country’s biggest financial institutions.
Revolut received its UK banking licence in March 2026 after a regulatory process that took roughly five years. The company aims to raise revenue per customer toward the levels generated by established banks.
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