What is Admiral?
Admiral is a UK-based insurance company, established in 1993 and specialising in car insurance. Having introduced innovative and popular products such as multi-car insurance to the UK market, Admiral also began offering personal loans in 2017.
Personal loans from Admiral are based on your individual circumstances, repayable over terms from one to five years and available in amounts up to £25,000. You can usually get an immediate decision when you apply online, and there are no “set up” or “arrangement” fees.
Key features of an Admiral personal loan at a glance
Admiral offers “unsecured” personal loans, which means that loan approval is based on individual creditworthiness rather than being secured on an asset such as a property. They have a fixed rate, which means that the amount you have to pay each month won’t change. Here’s a quick rundown:
|Loan type||Unsecured Personal Loan|
|Loan amounts||£1,000.00 to £25,000.00|
|Loan terms||1 Year to 5 Years|
|Loan rate type||Fixed|
|Same day funding available|
|Instant decisions in most cases|
|Soft-search facility available|
|Overpay without penalty|
|Concurrent loans allowed|
|Topping-up pays off existing loan and initiates a new loan|
|Repayment methods||Direct Debit|
How do Admiral’s loans hold up against the competition?
Am I eligible for an Admiral personal loan?
You should only apply for an Admiral loan if you meet the following criteria:
Unfortunately, you won’t be eligible for an Admiral personal loan if you:
- Are self-employed
- Have had any County Court Judgements (CCJs) in the last three years
- Have been made bankrupt, had any Debt Relief Orders or gone through Individual Voluntary Arrangements procedures in the last six years.
How do I apply?
If you’ve decided that an Admiral personal loan is the best option for you, there are six steps to the application process:
- Use the Admiral personal loan calculator to get an estimate of the monthly cost of your loan.
- Complete the online application form – this should take around five minutes and will include questions about your identity, employment status, income and spending commitments.
- Upload any additional documents requested by Admiral. This might include bank statements or other evidence of your income.
- Upon receipt of your application, Admiral will carry out a credit and affordability assessment based on the information you have provided plus a search from a credit reference agency.
- If your application is accepted you will then need to sign a credit agreement, which you can do online or by post.
- Once you return your signed agreement, the money should be in your account within 3-5 working days.
Popular questions about Admiral loans
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