Admiral Loans

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Although known for its insurance offerings, Admiral also offers personal unsecured loans, as well as car finance, as part of its Admiral Money brand.

With an Admiral personal loan, you can borrow between £1,000 and £30,000, at a fixed interest rate for the lifetime of the loan.

You can use your Admiral loan for a wide range of purposes, including home improvements, wedding costs and debt consolidation.

Admiral personal loans

Admiral loans are unsecured personal loans. This means you do not have to put up an asset, such as your home, as collateral in order to be eligible for a loan. With Admiral, you may be able to take out a loan for between 12 months and five years.

» COMPARE: Personal loans

How much can I borrow?

Through Admiral, it is possible to borrow between £1,000 and £30,000. How much you can borrow will depend, in part, on your financial situation.

What are the interest rates on an Admiral loan?

Your Admiral loan interest rate will be fixed for the length of the loan term. What that interest rate is, meanwhile, will depend on both the amount you want to borrow, and your individual financial circumstances.

Lenders will use a percentage called APR. to help you compare the cost of each loan. This is short for annual percentage rate and tells you how much it will cost you to borrow from a lender over the course of one year, including the interest rate they charge and any fees.

However, it’s worth remembering that the APR you receive may differ from the representative APR that lenders advertise. The representative APR is the rate that 51% of customers receive on their loan, which means the remaining 49% of borrowers may face a higher rate.

Use the APR purely as a guide to the loan products on the market, not a guarantee of the cost of the loan to you personally.

Can I get car finance with Admiral?

Admiral doesn’t only offer personal unsecured loans, but car finance too.

While you can use a personal loan to buy a car, car finance offers you another way to approach purchasing a vehicle. Admiral offers both personal contract purchase and hire purchase loan options.

With personal contract purchase (PCP), you make monthly repayments for a set period of time. You will also need to supply a deposit, typically around 10% of the car’s value. At the end of that contract, you can either choose to pay the ‘balloon payment’, that is the difference between what you have paid and the value of the car and buy the vehicle outright, or trade the car in.

Hire purchase is very similar. You provide a deposit, and then make monthly payments for a fixed period. However, unlike with PCP where you have the option to buy or trade in the car, with hire purchase you will own the car outright at the end of your contract.

The maximum Admiral personal contract purchase loan is £50,000, while the lender’s maximum hire purchase loan is £35,000.

» COMPARE: Car finance

Can I get a joint loan from Admiral?

At present, it is not possible to apply for a joint loan with Admiral.

A joint loan involves more than one person signing up for, and therefore becoming liable for, a loan. This could be a mortgage, the overdraft facility of a joint bank account, or a joint personal loan.

Can I get a secured loan from Admiral?

Currently, Admiral does not offer secured loans.

Unlike an unsecured loan, a secured loan requires you to put up an asset, such as your home or car, as a security in order to be eligible for the loan.

» COMPARE: Secured loans

Pros and cons of Admiral loans

Admiral loans have advantages and disadvantages.


  • You can borrow up to £30,000.
  • You’ll potentially get an instant decision when applying online.
  • Car finance is available, as well as personal unsecured loans.


  • You’ll need a minimum annual income of £15,000 to be eligible for a loan.
  • The lender does not offer joint loans or secured loans. 8 You’ll be charged up to 58 days’ interest if you pay off your loan early in full.
  • It can take longer than some lenders to get the loan – you’ll get it on the third working day after its approval.

How do Admiral loans work?

To find out whether you are eligible for a personal loan and the APR rate it can offer, you can get a quote from Admiral, which won’t affect your credit file. If you are happy with the quote and submit a loan application, Admiral will then carry out affordability assessments and a hard credit check, which will be recorded on your credit file.

If you are successful, you will be sent a loan agreement, containing your personalised interest rate, for you to sign and return. Your funds will be unlocked once you have returned the loan agreement.

Once you have received the money, you will start making monthly repayments, including interest, on the agreed repayment date. You can change this payment date after the first month of repayments. Similarly, you can contact Admiral if you would like to increase or decrease the amount you pay each month.

What if I miss a payment?

You will be charged a fee for every missed payment. These missed payments may also negatively affect your credit score.

Admiral encourages customers to get in touch as soon as you think you may be struggling financially, or fear you may miss a payment.

Similarly, you can also contact debt charities, such as StepChange or the National Debtline for help.

Can I pay off an Admiral loan early?

You can pay your Admiral loan off early, whether that is in part or in full.

If you repay your loan early in full, you will be charged up to 58 days of interest, at the rate set out in your loan agreement, on top of the remaining balance.

What can I use an Admiral loan for?

There are a number of potential uses for your Admiral loan, including:

Buying a car

Whether it is through a personal loan or car finance, Admiral can help you purchase or lease your dream car.

Home improvements

From loft conversions to remodelled kitchens, an Admiral loan can be put to use for making improvements to your home.


If you need to lock down your ideal venue or chosen caterer, but don’t have the cash to hand, an Admiral loan can help with your wedding costs.

Debt consolidation

If you have existing debts across multiple lenders, you may consider using your Admiral loan for debt consolidation. This is where you pay off your existing debts with a new loan, in order to streamline your monthly payments.

However, before consolidating your debt, you should calculate the costs. This includes comparing the interest rates on a new loan against your existing debts, as well as any early repayment fees you might incur.

Restricted uses

Admiral loans cannot be used to cover your daily living expenses, such as bills and food.

Admiral loan eligibility criteria

In order to be eligible for an Admiral personal loan, you must have:

  • lived in the UK for at least 3 years, and be a permanent resident of England, Wales or Scotland
  • a minimum annual income of £15,000
  • a UK bank account
  • no county court judgments (CCJs) in the last three years
  • not been made bankrupt in the last six years
  • no Debt Relief Orders in the last six years
  • no individual voluntary arrangements (IVAs) in the last six years

On top of this, you will need to pass Admiral’s credit checks and affordability assessments.

Can I get an Admiral loan with bad credit?

It can be more difficult to get a personal unsecured loan with a poor or limited credit history. If you are successful, you may then be offered a higher interest rate than if you had a stronger credit score.

» COMPARE: Bad credit loans

Can I top up an Admiral loan?

You can top up your existing Admiral loan, but only if you have made six repayments or more, and have a good history of repayment. In doing so, Admiral will create a new loan, based on your remaining balance and the extra amount you are looking to borrow, and use this to pay off your original loan. This means you could find yourself with a different interest rate to your first loan.

An alternative to topping up your loan is taking out a second Admiral loan. Again, you will need to have made at least six monthly repayments, and have a good history of repayment, to be eligible.

How to apply for a loan from Admiral

Submit your application. This will require you to provide personal and financial details, such as your annual income and monthly outgoings. 2. Admiral will carry out its credit checks and affordability assessments. If applying online, this decision may be instant. However, sometimes Admiral will require more information before proceeding with its decision. 3. If you are successful in your application, Admiral will send you a loan agreement, containing your interest rate offer. 4. If you are happy to go ahead, you will need to sign and return the loan agreement. 5. You will receive your funds on the third working day after you have returned your loan agreement, between 12pm and 5pm.

How long does it take for an Admiral loan to be approved?

Admiral states that most people will get an instant decision if applying online. However, sometimes the lender will require more information, such as proof of address or income, before making a decision.

If you are approved, you will receive your funds between 12pm and 5pm on the third working day following the return of your signed loan agreement.

Admiral customer reviews

Admiral Money has a Trustpilot rating of 4.7 out of 5, based on over 1,200 reviews.

This information is correct as of 3 October 2022.

Admiral Loan FAQs

How long do Admiral payments take?

Admiral states that you will receive your funds on the third working day after you have returned your loan agreement, between 12pm and 5pm.

What is Admiral Money?

Admiral Money is the personal finance division of Admiral. This includes personal unsecured loans and car finance.

About the author

Connor Campbell
Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The Independent. Read more

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