How likely would you be to use Revolut to obtain a loan if it could be approved in the app in a matter of minutes and cost roughly half as much as typical credit cards?
1 very unlikely - 5 very likely
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0 voters
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I think this really depends on a lot of information that isn’t in the survey prompt.
Rates for CC’s vary from 5-25% APR (or lower/higher) so “half” is a bit vague, and I don’t know what the terms of the loan are (is it intended as short term? long term?).
Hello @ryanbruce,
We plan to send out some more information very soon on what we’re thinking. Would be great to get some more feedback from you then. :r:
I would not take a loan, not because it’s a bad idea but I think that if you don’t have the money you don’t buy things 
but I would give a loan. I think it you would be great if you could lend money for a short amount of time for some interest rate
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Depends on the conditions but for me would be great thing!!
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Are you guys considering getting a banking license to originate loans or is this more of an agency concept similar to Funding Circle, Zopa, Ratesetter and the likes ?
We’re evaluating all potential options but are leading towards a Peer2Peer agency concept along the lines of Zopa/Ratesetter etc. Aim would be to allow customers to borrow instantly at around 5-10% APR per year and give them full flexibility on how they want to repay.
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Hey guys,
We’re excited to announce that we’ll have launched it by the end of the month 
Keep your eyes peeled 
:r:
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Dunno: what’s the difference with crowdfunding?
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HI there - the loans will be sourced from individuals via a P2P platform (so in essence a type of crowdfunding). That way we cut out the banks (and their high costs/inefficients) in order to give our users a great opportunity to borrow at speed and at the most affordable rate 
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Any updates on this?
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Just a little bit more patience, it’s a matter of days 
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Hmm, doesn’t this make Revolut into a credit card? In which case terms and conditions of the Consumer Credit Act (or whatever it’s called) would apply? Of course, I’d like that protection with the Revolut card – I wonder how Revolut plan to get around the regulations on this, because I somehow doubt they’ll be offering the full protections of the Act (joint liability with the merchant for purchases, transaction dispute resolution, etc.)…
Somewhere here and in the latest app details, it is discussed as a P2P money lending option. Revolut is not borrowing money itself and it will be a consumer credit with fixed rates, not an overdraft option, I believe.
If you would offer Loans also for other Residence Countries then the UK, i would take a Loan
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Wow
That will be a great idea