|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £25,000|
|Loan terms available||12 – 96 months (8 Years)|
|Age eligibility requirements||Minimum 18 years old|
|Access for lower credit scores||Low chance of approval No IVA, DBO or CCJ statuses accepted|
|Chance of acceptance available||Yes|
|Loan pay out time after approval||3 working days|
|Early repayment options||Yes, with potential fees|
Who is Admiral?
Admiral is a UK-based lender who offers a broad range of financial products – including personal loans. They provide excellent customer service, with a quick online decision to show you real rate options. Admiral have a long history in the UK, taking care of the customers they work with.
How much can I borrow with a personal loan from Admiral?
Admiral offers personal loans from £1,000 to £25,000 across a wide selection of repayment plans and timelines, to help find the right plan for you. The specific amount you will be eligible to borrow will depend upon your personal circumstances.
What interest rates can Admiral offer?
Admiral shows real rates to help you make the right decision, because the interest rate you are offered for a personal loan will depend on your personal circumstances and credit score. If you have a healthier credit score, you are likely to be offered lower APR values, which means that your monthly repayments could be lower.
If you haven’t had the opportunity to improve your credit score at all, or have had challenges with repayments in the past, you may find that the rates Admiral offers you are a little bit higher, because your credit score may show you as a riskier person to lenders.
In need of a boost to your credit score, but don’t know how? Check out our top tips for improving your credit score.
What can I use a personal loan for?
You can use a personal loan from Admiral for a range of uses, from weddings to funding home improvements. Some of the most popular uses of personal loans are:
- Consolidating your debts
- Making home improvements
- Buying a new car
- Going on holiday
- Funding a wedding
Who is eligible for a personal loan from Admiral?
Your personal circumstances and credit score will be taken into account when assessing if you are eligible for a loan from Admiral. Most lenders will look at how risky it is to lend money to you, so improving your credit score will make a difference to your eligibility for loans and the rates you will get.
Admiral also have their own eligibility criteria for applying for personal loans. You need to:
- Be a permanent resident of England, Wales or Scotland
- Have been living in the UK for at least the past 3 years
- Own a UK bank account
- Either be in employment or retired, and have an annual income of at least £15,000
- Not have had any County Court Judgements (CCJs) in the last 3 years
- Not have declared bankruptcy, had any Debt Relief Orders or gone through Individual Voluntary Arrangements in the last six years
How quickly do Admiral pay out their loans?
Admiral aim to pay out all loans on the third working day after the loan has been approved and all paperwork has been signed. This is to allow them time to complete all financial and fraud checks.
Can I pay off my loan with Admiral early?
Yes, although there may be a fee to do so. You may pay off the loan in full or make extra payments towards the total at any point in the lifetime of the loan.
Does Admiral use Open Banking?
Yes, as part of your application you may be asked to provide banking information so that lenders can better understand your financial situation. It isn’t a requirement, but if it is asked for and used it may help with getting better rates on your personal loan.
Are there any added benefits to a personal loan from Admiral?
There are a number of advantages to taking out a personal loan from Admiral:
- Award-winning customer service from an experienced financial lender
- See real rate options for the best picture of how much your loan will cost you
- Options to overpay or pay off your loan early – subject to any fees that Admiral may charge you for early repayment
- Options to potentially increase the amount you have borrowed mid-term, if you are managing the current loan well and have the financial circumstances to do so.
What should I consider before taking out an Admiral loan?
You should always make sure you are only borrowing an amount that you can afford to repay. You may also need to have proof of identity or go through certain steps in your application:
- Proof of your address for the last three years
- You might need bank or ID verification
- Your loan offer may still be subject to financial fraud and lender checks
- Any missed repayments can have a negative impact on your credit score.
How do I check my eligibility for personal loans with Admiral?
Here at Aro, we can help you check your eligibility for a personal loan with Admiral without harming your credit score. Simply fill in your details and we’ll check your personal loan options with Admiral and over 50 other UK lenders in minutes.
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