Business Overdraft - Business account | Ulster Bank

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Boost cash flow with a business overdraft

Financial support so you can focus on your business

To apply online you must be trading as a sole trader, partnership or limited company in Northern Ireland. Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only.

Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

Features and benefits

  

 

Flexible monthly payments

 

You can reduce your overdraft by as much or as little as you want each month, with no set minimum pay back each month.

What rate will I pay?

 

All rates will be advised upon receipt of application. Should you wish to renew your overdraft, you will be charged an annual renewal fee for each year you renew.

What you should know:

If you exceed your agreed limit you will be charged an unarranged borrowing rate and be subject to unpaid / paid item fees.

Base rate and LIBOR rate
Lending Rate %
Ulster Bank base rate (Effective from 19th March 2020) 0.10%
3 Month Libor Rate (Effective from 19th November 2020) 0.00%

 

Please note that, for the purposes of interest rate calculation, where Ulster Bank base rate is below zero, it will be deemed to be zero.

  

 

  

 

Borrow up to £50k (subject to credit approval)

 

To explore how much you want to borrow, you can apply online by clicking the 'Apply Now' button below, or you can call our dedicated team on the numbers below:

0345 366 5592 (UK)

or if calling from abroad, 0044 2890 538459

Lines are open 8.30am - 5.30pm  Monday to Friday - Note calls may be recorded  

 

 

 

Boost cashflow and only pay interest on what you borrow

 

An overdraft is a useful safety net. If you need a quick cash injection or help when an unexpected cost comes along, an overdraft is there if you need it. If you don’t use your overdraft facility, you don't pay any interest. Simple as that.

 

 

Apply Pay and Google Pay.

  

 

Eligibility 

 

All lending is subject to financial status and conditions and is for business purposes only.

You must be over 18 years of age

You must be resident in the United Kingdom

 

Apply now

 

Want to increase your overdraft limit?

Our new online application form is the fastest way to apply for a limit increase to your existing business overdraft. Please follow the link below to our simple application journey.

Apply now

FAQs

What details are needed by Ulster Bank when applying for a Business Overdraft?

You’ll need the personal details of all of the partners, members, directors or signatories of the business (including their home addresses for the last 3 years). You’ll also need your business details, including your Company’s Registration Number (provided by Companies House) if you’re a limited company. Also, details of any countries you or your business is registered for tax purposes in and details of your business' year end accounts or cashflow forecasts. Find out more in the "Application" section below, which will help you to prepare.

How can I increase, decrease or remove the limit of my business overdraft?

If you have a Relationship Manager, please give them a call.

 

If you do not have a Relationship Manager you can now request a change to an existing overdraft via our online application journey which can be found in the 'Want to increase your overdraft limit?' section of this page.

Can I have a loan and an overdraft?

Yes, it’s possible to have both a loan and an overdraft. It’s all based on your overall approved credit.

How can I improve my chances of being approved?

If you're an existing customer, it’s really important that your personal and business details are close matches to what we have on your file. If they're different, it will be worth updating them before you apply.

If in doubt, please check what is on file at Companies House and update any out of date information before you apply.

Please be accurate with your income declaration. If we believe you can't afford the repayments on the amount you apply, you may be declined.

For instance, if you declare an income of £250,000 and we see £180,000 going through your Ulster Bank account, your application may be referred or declined.

How much of an Overdraft are you likely to lend me?

As a rule of thumb, we’re unlikely to accept you for an Overdraft that’s much over 10% of the turnover that we see going through your Ulster Bank account(s). If you bank online, our lending tool will show you how much we could lend to you. If not, please use the eligibility tool to give yourself some assurance.

I want to borrow more than £50,000, how can I do this?

You will need to speak to your relationship manager or call 03453 665592 (UK)  if you wish to borrow more than £50,000, or if your aggregate debt with us exceeds £50,000.

Get started
Application takes approx. 8 minutes. Simply tell us...

Debit card.

How much you'd like to borrow over what term

Bankline.

About you and your business

Statements.

Purpose of your overdraft

Apply now

We'll call you back.

We're keen to get to know you and your business. Once we've received your application we'll give you a call to run through your business finances.

When we've got all the information we need, we aim to give you a decision within 2 working days.

4 reasons to choose Ulster

We’re open for UK businesses

Number one

We're helping so many businesses across Northern Ireland. Why not be part of the success?

We’re experts in most fields

Number two

We have customers in most sectors, so you can be confident with our expertise and support.

We offer a support network

Number 3

You'll receive your own Relationship Manager (turnover and eligibility criteria apply).

Our app makes it easier for you

Number 4

With fantastic features, our app can do the heavy lifting, so you can focus on your business. (eligibility criteria applies).

Important message

 

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.

Business Overdraft - Business account | Ulster Bank Application declined?

As part of our commitment to you we provide a transparent and open appeals process. If you disagree with our decision and your application has been declined you can request a review via our online appeal application.

Who can appeal?

 

If you meet all of the criteria detailed you are entitled to make an appeal

Submit an appeal online

Appeal eligibility

 

  You have applied to Ulster Bank for lending

  Your lending request has not been declined due to bankruptcy

  You have submitted a formal lending application

  Your appeal related to a lending application declined within the previous 30 days

  Your annual group turnover is less than £25m

 
Not found what you're looking for? We're here to help
Call our dedicated team
Contact us

General enquiries

Please call 0345 366 5592 (UK)

or if calling from abroad, 0044 2890 538459

Lines are open 8.30am - 5.30pm  Monday to Friday - Note calls may be recorded  Call charges

 

 

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