Increasing your Business Overdraft
In 2 simple steps
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.
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 or Three Month Libor linked rate
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.
Will I be notified of a decision 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.