Revolut launches refinancing facility in Romania

Following the launch of the new facility, Revolut is expected to refinance one or more unguaranteed loans from Revolut Bank, or other banks and financial institutions. This process is set to take place within a limit of EUR 40.000 (RON 200.000), only in the local currency. In addition, the interest rate will be fixed at 6.99% to 15.99%, depending on the credit profile and term of the loan that the customer chooses to leverage. 

Throughout this launch, Revolut will focus on meeting the needs, preferences, and demands of its customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More information on the facility launch

UK-based fintech company Revolut was developed in order to simplify the process of transferring money to and from customers around the world, while also removing the friction that usually occurs in the procedure of managing financial transactions. The financial institution’s product portfolio includes crypto solutions, commodities, stocks, savings, cards, and payments, as well as lifestyle services, such as eSIM data plans, shops, donations, and stays & experiences. 

Following this product launch, the maximum repayment period for the refinancing loan is set on 60 months, as the recipients will be required to be a Romanian resident in order to make the loan. At the same time, the customers will need to have their revenues declared by the national tax authority. Both other personal loans and credit cards, as well as overdraft facilities, can be refinanced too. 

The request for refinancing will be made directly from the application, in a simple process. The information and data on credit facilities eligible for refinancing will be automatically extracted from official sources, while also being presented to the user in order for them to select the loans they want to refinance. This procedure will provide customers with the opportunity to see the potential impact of refinancing on the total monthly payments, while also benefiting from transparency and security.