Revolut loans

Why choose a Revolut personal loan?

Revolut offers a simple, fast and flexible way to borrow. Here’s what Revolut loans offer:

• Borrow what you need: Borrow between €2,000 and €30,000 at market leading rates. Use our online loan calculator to see what your loan will cost and how much you could save.
• Decide your loan term: Choose a repayment period between 1 to 5 years (i.e. 12–60 months)
• Flexible features: Change repayment dates, make overpayments, and keep on top of your borrowing.
• One simple app: Apply for your loan, get a result, receive the money, and manage your repayments all in one app.
• Transparent fees: Fees are clearly laid out in the Revolut app, so you’ll know what you owe, what interest you’ve accrued and how much you’ve repaid at a glance.
• Get an answer in minutes: If you’ve been an active Revolut customer for 30 days, apply via the app and get a decision on your application right away.

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What can you use a Revolut loan for?

You can use a Revolut loan for any of these things and more:

• A new car or vehicle
• Home improvements
• Holidays and travel

Revolut state that their loans cannot be used for gambling, investment or business purposes.

How to apply for a Revolut loan

To start the loan process, download the app and apply for your loan in three simple steps:

1. Go to the Credit page and select the ‘Get a Loan’ option
2. Enter how much you want to borrow and for how long
3. Answer a short set of questions so Revolut can assess your application

If you’re successful, simply sign the agreement and get your money instantly in your account.

If you don’t see the ‘Get a Loan’ option, then you aren’t eligible to make an application. It’s worth checking your loan eligibility again at a later date.

Any questions before you start can be answered by their searchable Help page or get help from the Revolut community of 15 million users.

What you need to know

The interest rate is variable. Your actual rate will depend on factors such as your credit profile, the size of your loan and the loan term.

The rate you get may be higher and can go up to 12.99% APR (Annual Percentage Rate) for some borrowers.

To qualify for a Revolut loan you must be an active Revolut customer and have regularly used your Revolut card for more than 30 days.

You must be:

• at least 18 years old
• a full-time resident in the Republic of Ireland, with a registered Irish address and an Irish mobile phone number linked to your Revolut account
• employed in Ireland and have your salary or pension paid directly into your Revolut, AIB, Bank of Ireland, or Permanent TSB account for a minimum of 3 months

Revolut will perform a credit check via the Irish credit register before approving a loan. A poor credit history or overdue debts may result in refusal.

What else does Revolut offer?

Revolut offers a range of additional financial services through its mobile app.

With their standard account, users receive a Euro IBAN account and debit card, as well as the option to use Google Pay or Apple Pay.

With a Revolute standard account, you can:

• Earn 1 RevPoint per €10 spend on your debit card
• Withdraw up to €200 cash a month for free (after that charges apply)
• Use their currency exchange fee-free in 30+ currencies*
• Spend around the world with transparent fees visible in the app
• Open investment, savings and fund accounts
• Use their crypto-currency exchange and convert currencies into Bitcoin, Ethereum & more
• Use Pockets for budgeting and saving money, and Group Pockets for saving with family and friends

*€1,000 standard plan limit. Third-party providers may change a withdrawal fee and weekend mark-ups may apply.

About Revolut

Revolut offers a range of digital banking services in a mobile app. It has customers in over 28 EU countries, including Belgium, Denmark, Germany, Netherlands, Spain and Sweden, who can now bank with Revolut and be fully protected for up to €100,000.

Revolut Bank UAB is authorised by the Bank of Lithuania in the Republic of Lithuania and by the European Central Bank and is regulated by the Central Bank of Ireland for conduct of business rules.

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