Increasing your Business Overdraft
In 2 simple steps
Note: You must be 18 years old or over to apply, T&Cs apply, and Business lending is for business purposes only.
Step 1: The need-to-knows
Available for your short-term cashflow needs
Tailor the term to suit your needs - available for up to 12 months
Pay interest on the amount you use
Interest rate is variable and linked to either Bank of England Base Rate (currently 0.50%) or Three Month Libor linked rate (currently 0.55%)
Security may be required
- All lending is subject to financial status and conditions and is for business purposes only.
- Applicants must be over 18 years of age and residents in the United Kingdom.
- Formalities include the use of Credit Reference Agencies who will note that an enquiry has been made about you. If you borrow and do not repay in full, within the agreed terms, Credit Reference Agencies may be advised and will note the outstanding debt. This may affect any future applications for credit facilities through the Ulster Bank Group of Companies or other lenders. All Ulster Bank credit facilities are subject to Lending criteria, Terms and Conditions.
When will I know a decision has been made on my application?
You will receive an email notification once a decision has been made on your application, if:
- Approved: we will email you to let you know the good news.
- Declined: We will contact you by telephone and email to discuss the reasons why we have been unable to support your business.
Will my Overdraft interest rate change?
There are a number of factors that will be taken into account when deciding the price of an overdraft, this will be agreed with you when your overdraft is approved.
Will I be charged an arrangement fee?
An arrangement fee of 1% of the overdraft amount will be charged, minimum fee of £150 applies.