Revolut
Borrow up to €30,000 with rates starting from 6.5% APR. Revolut offers no additional fees, straightforward terms, and a fast digital application for eligible Irish customers.
Revolut’s personal loan offers Irish residents the ability to apply for up to €30,000 with a competitive variable APR starting from 6.5%. For a €5,000 loan example, if borrowed for 60 months, you pay an illustrative total of €5,843.40 based on a 6.5% APR. Monthly repayments could be about €97.39, though your assigned APR may differ. There are no sneaky fees and all costs are shown upfront, which makes the offer very transparent for the borrower.
How to Apply for a Revolut €5,000 Loan
- Open or update your Revolut app
- Tap ‘Accounts’ then ‘Add new’
- Choose ‘Credit’ and follow the application steps
- If approved and accepted, your loan will be paid directly into your Revolut account
Key Advantages
One clear advantage of Revolut’s loan is the competitive APR starting from 6.5%, which is attractive for most eligible applicants compared to many high street lenders. What also stands out is the fully digital and streamlined application process, making it possible to receive your offer quickly and track all repayments in-app. If you already use Revolut, loan management is simple and centralised.
Potential Drawbacks
The key limitation comes with eligibility. You must receive your salary or pension for 3+ months into an eligible account, and have actively used a Revolut card for over 30 days. Additionally, if your credit score is poor or income is paid into a Credit Union or EBS account, you may not be able to apply.
Verdict
Revolut’s €5,000 loan is a convenient option for Irish users seeking transparent personal financing with potential low rates and a hassle-free application. For those eligible, it strikes an appealing balance of cost and digital convenience, though limited to existing Revolut users with qualifying income accounts.