Revolut Targets High Street Giants With New U.K. Personal Loan Service

The digital bank, currently valued at 115 billion dollars, confirmed that loan interest rates will scale between 6.9% and 29.3% based on individual credit profiles. Customers can structure repayments over terms lasting one to five years. While access is currently limited to a small group, the company intends to roll out the service to its 14 million U.K. users over the coming months.

Francesca Carlesi, CEO of Revolut U.K., emphasized that the product aims to remove the friction and opaque fee structures often associated with traditional high street banking. The offering includes no early repayment penalties and promises near-instant funding upon approval. This push into credit follows the firm’s long-awaited transition to a fully operational U.K. bank license granted in March. With 80 million global users and a stated goal of reaching 100 million by mid-2027, the firm is positioning its lending suite as a primary driver for its next phase of growth.