Key facts
- Loans range from £2,000 to £25,000.
- Interest rates range from 6.9% to 29.3%.
- Revolut secured a formal UK banking license to scale credit operations.
Revolut has officially launched its personal unsecured lending service in Britain, marking a significant step in its evolution from a fintech app to a direct competitor to traditional high street banks. The expansion is enabled by Revolut securing its formal UK banking license, allowing it to scale domestic credit operations and prepare for future mortgage and credit card offerings. The company aims to transition from an everyday spending app to a primary bank of choice in the UK. Revolut also plans to enter the mortgage market and launch a credit card product in the near future.