Business Loan Repayment Holiday | Ulster Bank

Overlay

 

Application waiting times

Due to high demand, it may take longer than usual to answer your call and process applications. 

Businesswoman in meeting

Repayment holiday for your existing business loan

Manage your loan

Has your business been affected by Coronavirus? Visit our Coronavirus support hub to understand the full range of support available.

Repayment holiday for your existing business loan

If you're an existing Ulster Bank business customer and your business has been impacted by coronavirus, you could be eligible for a repayment holiday on your existing business loan

Repayment holidays are available for up to 12 months

If you have already had a repayment holiday or your current repayment holiday is coming to an end, you may be eligible to apply for a further payment holiday up to a total of 12 months, including any payment holiday already taken

Interest may accrue during any repayment holiday, meaning it may take longer to repay the loan and may cost more in the long run.

How does a loan repayment holiday work?

Take a break on loan repayments

Depending on the type of loan you have, you may be eligible for a capital repayment, or both capital and interest repayment holiday.

Repayment holiday for up to 12 months

You may be eligible for a repayment holiday of up to 12 months.

Repayments amounts

Repayment options may vary depending on your loan type and agreed through the application process.

Common questions about loan repayment holidays

 

What does a repayment holiday mean?

Depending on the type of loan you have, you may be eligible for a capital and interest repayment holiday, or a capital repayment holiday only. 


This could be for up to 12 months. 


It's important to remember, interest may accrue during any repayment holiday, meaning it may take longer to repay the loan and may cost more in the long run. 

Who is eligible to apply?

You must be an existing Ulster Bank business customer with an existing business loan to apply. 
 

Personal customers can visit the Personal Banking Coronavirus Hub for more information about the options available.

Does a repayment holiday affect my credit rating?

No, taking a repayment holiday will not affect your credit rating.

Can I request repayment holiday for more than 12 months?

The maximum repayment holiday term is 12 months.

Is there alternative support for my business?

Visit our Coronavirus Hub for more information about alternative options available to businesses who have been affected by Coronavirus.

I’ve already taken out a repayment holiday, can I take another one?

If you've taken out a repayment holiday since March 2020 and resumed payments, you may be eligible to restart your repayment holiday. Your combined repayment holiday cannot exceed 12 months.

My repayment holiday is due to expire, how do I extend it?

You will receive an email at least one month before your repayment holiday ends, which will give you the option to extend. If your repayment holiday is due to expire within one month please contact your Relationship Manager directly or contact us via 0345 366 5592.

Ready to apply?

Before you start, please remember:

  • If you have a Relationship Manager, speak to them in the first instance to discuss your needs
  • You need to be an existing Ulster Bank customer with an existing business loan.
Apply now

 

Coronavirus support for your business

We understand these are difficult times, and if you're in need of a helping hand we're here to support you.

Find guidance and support on our coronavirus hub.

Visit the coronavirus hub
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

 

 

Set Tab for lightbox