Level up with loans

To be eligible for a Revolut personal loan, you must:

• be at least 18 years old
• be an Australian citizen or a permanent resident (we don't accept temporary residents)
• have a good credit history (no adverse events)
• be employed for at least 3 months (or self-employed for at least 1 year)
• have a minimum income of $2,000 per month after tax (roughly equivalent to $26,000 per year before tax)

We'll also assess your ability to afford the loan, and if it meets our responsible lending obligations.

Loans can be used for a range of things (as long as they're for personal use), such as:
- Buying a vehicle
- Making home improvements
- Holidays
- Refinancing or consolidating your debt
During the application process, you'll be asked to declare what purpose you intend to use the funds for.
You can't use the loan for business purposes, investments, or gambling.

The actual interest rate you'll receive depends on two key factors:

- Your credit score and credit history
- The loan term you choose
It only takes a minute to get your quote, and finding out your rate won't impact your credit score. All we require is your basic personal details so we can match your details with the credit bureau.
Get a quote online or in-app.

Sometimes you'll see us referring to a comparison rate. Some lenders have fees that increase the true cost of a loan. The comparison rate is a version of the interest rate that factors in fees and charges, which you can use to more accurately compare Revolut Australia with other lenders. Lenders are usually required to list a comparison rate next to the interest rate in advertisements.

Revolut’s unsecured personal loans have no ongoing monthly fees, and no early repayment fees.
However, you may be charged an upfront establishment fee for processing a new loan application. The establishment fee will only be charged once your loan is funded, and will be added to your total loan amount, so that you won’t have to pay any fees out of your own pocket.
We'll make it clear upfront whether establishment fees apply when you get a quote with us. Getting a quote only takes a minute and won't impact your credit score.

Revolut Australia offers personal loans from $5,000 to $50,000. You can request a loan amount in $250 increments, e.g. $5,000, $5,250, $5,500, and so on. We'll round to the nearest $250 based on what you enter.
We offer personal loans over a term of 1 to 7 years. A shorter loan term means less interest will be charged for the duration of the loan, and a longer term will result in a lower monthly repayment amount. Note that the loan term you choose will change the interest rate of your loan.
Get a quote to find out your personalised rate — it's fast and doesn't impact your credit score.

To find out your personalised rate, you only need to provide a few basic details, including:

• The amount you'd like to borrow, and the purpose of your loan
• Your personal details, including your name, date of birth, and address, so we can match you with the credit bureau to provide you with your personalised rate
• We'll also verify your phone number — you'll need this to continue with your application

In order to proceed with an application for a personal loan, you'll need to download the Revolut app and complete the identity verification process (quick tip: have your ID handy, e.g. passport or driver's licence, as this will speed up the process). If you're already a Revolut customer, you can skip this step and proceed directly with your application.

To complete the loan application, we'll ask you a few questions, including:

• What's your family situation?
• What's your residential status?
• What's your employment status and income?
• What are your monthly expenses and liabilities?

You may also need to provide:

• Supporting documents to show that you're an Australian citizen or permanent resident (e.g. Australian passport, green medicare card, VISA grant notice)
• Bank statement information with details about your income, expenses, and liabilities from the last 90 days, and pay slips upon request
• For self-employed applicants, the latest notice of assessment and individual tax returns
  

All this information will help us properly assess your loan application and make sure the loan is suitable for you.

Step 1: Get a quote
We only need your basic personal information to provide you with your personalised rate, and estimated repayment amount. It only takes a minute and doesn't impact your credit score.

Step 2: Complete the application in a few taps
If you're eligible and would like to proceed, you’ll then need to download and open the Revolut app to complete your application. This will involve filling out a short questionnaire and then submitting it for assessment, including providing proof of citizenship/permanent residency, 90 days of bank statements, and other supporting documents.

Step 3: Our team will aim to get back to you in 1 business day
We aim to process applications as fast as possible, and most applicants will hear back from us by the next business day. The time it takes for us to assess your application will depend on how accurately you complete the application, whether you've submitted the required documents, and if you've responded to our follow-up questions.

Step 4: Accept final offer and get your money instantly
If your application is approved, you'll be notified by email, push notification, and in-app. Once you accept the loan agreement, you’ll receive your money into your Revolut personal account in-app instantly.

Getting a quote to find out your personalised rate won't impact your credit score.
We'll record an enquiry on your credit file with the credit reporting body, Illion Data Registries Pty Ltd. We'll only do this when you've completed a full credit application within our app and provided your consent.

If you're not an existing Revolut customer, you can get a personalised quote online without needing to download the Revolut app.
After this, if you'd like to continue to apply for a Revolut loan, you'll need to download and log in to the Revolut app to complete your application.
Downloading the Revolut app will allow you to progress your application in the app securely, and have 24/7 access to in-app chat support. Once approved, you'll receive your money instantly into your Revolut personal account. You can also manage your loan in-app, including checking your balance, downloading statements, and making repayments.
If you're an existing Revolut customer, you'll need to apply for a loan within the Revolut app.

No, you do not. You'll be automatically assigned the Standard plan when you sign up as a Revolut customer, which has no monthly fees. This is so we can deposit the cash into your Revolut Personal Account if your loan is approved. Revolut offers other products and services, which you'll also be able to access as part of the Standard plan (if you choose to do so).

Here's an example of a Revolut Loan for borrowers with an excellent credit history:
Suppose you borrow $10,000 for 36 months with an annual fixed interest rate of 6.56% p.a. (comparison rate 6.56% p.a.).¹
With $0 upfront costs, no monthly fees, and no early repayment/exit fees, your estimated monthly repayments will be $306.76.
The total estimated repayment amount will be $11,043.48 (including total interest cost) over the life of the loan.