Refinancing Loans
1 loan 0 guesswork
Lower your monthly repayments, reduce your interest rates, and manage your debts — all in one place.
Refinancing does not apply to revolving products such as credit card limits or overdrafts.
Manage all your debts in one place
Apply in-app in minutes for a refinancing loan from €2,000 to €35,000. Combine your existing credit into one simple repayment plan, giving you better control over your finances.
Benefit from competitive rates
Get a better deal on your loan, with attractive, competitive rates. Plus, enjoy flexible payment options and spread your repayments across up to 10 years.
Explore your options
Apply in-app
Forget bank queues and paperwork. It only takes a few taps to apply in-app, and you’ll receive a quick answer. If approved, you’ll receive the money in the account of your choosing. Plus, you can also request extra cash to top up your loan if needed.
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Repay your way, with no fee
Pay early or change your repayment dates free of charge — anytime, anywhere. So you can pay at a time that suits you best and manage your monthly costs with ease.
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FAQs
Refinancing allows you to take out a new loan (a refinancing loan) to pay off one or more existing personal loans. This can help you consolidate your debts, potentially request additional funds if you are eligible, and manage your finances with a single loan.
- For existing Revolut loans: Once your refinancing loan is approved, your previous Revolut loan will be automatically closed. The new loan details, including balance and repayment schedule, will appear in your app. Any additional funds you are eligible for will be disbursed to your Revolut account.
- For loans with other banks/lenders: The funds from your new refinancing loan will be transferred to pay off your existing loan. This transfer can be made directly to the external bank account holding your existing loan, or to your current account, based on the details you provide during the application. You will then be responsible for ensuring your external loan account is settled with the transferred funds.
Yes, the application is handled within the Revolut app and you need an account. The application process is handled within the Revolut app. For internal refinancing of an existing Revolut loan, you would already be a Revolut account holder.
When you apply for a refinancing loan, we will need to assess your financial situation and creditworthiness. This assessment often involves fetching data from credit bureaus. Such credit checks performed by lenders can be recorded on your credit report and may influence your credit score.
While specific criteria can vary, generally your existing credit facilities should meet the following:
- They must be personal loans
- The loan must be in your name (as a sole or joint borrower)
- The outstanding balance of your existing loan(s) must be within the range that Revolut can offer for refinancing (you typically cannot partially refinance a credit commitment)
The APR (Annual Percentage Rate) is the effective rate charged for your credit, which includes the total interest rate plus any additional fees and charges.
Representative example: Borrow €4,500 for 60 months with an annual fixed interest rate of 7.99%. Total amount payable €5,474.54, with monthly payments of €91.26. Annual percentage rate (APR) 8.3%. Please note, you'll be subject to a credit check.
Lending criteria and T&Cs apply. Refinancing loans are available to Revolut customers who are residents of Lithuania and over 18 years old. All applications are subject to approval. Services provided by Revolut Bank UAB licensed by European Central Bank through the Bank of Lithuania.