Changing your overdraft limit
Help to increase, decrease or remove your overdraft
Open to UK residents aged 18 or over with an eligible Ulster Bank current account. Lending is subject to credit review and approval. You must pay your salary or a regular amount into your current account.
Support with coronavirus
We're helping our overdraft customers through the coronavirus pandemic
Request up to £500 interest free and a lower interest rate
If you’re financially impacted by coronavirus, you will have until 31st October 2020 to request £500 interest free on your existing arranged overdraft (or up to your existing arranged overdraft limit if lower than £500) for a 3 month period.
We'll also reduce your interest rate on any borrowing above the interest free amount for the same period.
Tell me more
Icon expand As well as an interest free amount, we'll also reduce your interest rate
If you request the interest free amount, we'll also reduce your overdraft interest rate that you'll pay for any borrowing above your interest free amount for the same period.
The interest rate will be the temporary reduced rate that was in place prior to 7th August 2020. Compare your contractual and temporary reduced rate.
Please note, this isn’t a change to your overdraft terms.
Icon expand What if I've already requested the interest free amount?
If we’ve already agreed an interest free period on your overdraft as part of the coronavirus support on or before 1st July 2020, we’ll automatically extend this for you for a further 3 months from when your interest free period was due to end - so, you don’t need to reapply.
We’ll also keep your interest at a temporary reduced rate, on any borrowing above your interest free amount for the same extended time period. This will happen automatically. If we have a mobile phone number for you, you should have received an sms in July to confirm this.
It’s important to remember that after the further 3-month period ends, we’ll start to charge interest at your contractual rate on the full overdrawn balance.
Compare your contractual and temporary reduced rate.
Icon expand These are temporary measures to support customers who are financially impacted by coronavirus
It's important to remember that after the 3 month period ends, we’ll start to charge interest at your contractual rate on the full overdrawn balance.
You can use our overdraft cost calculator to check what your contractual interest rate is and what an overdraft would cost you based on your circumstances when the temporary measures end.
Icon expand How do I make the request?
You have to have an arranged overdraft with us to make the request. If you do, just fill in a few details to make the temporary interest free and lower rate request. Have your account number and sort code to hand.
If you don't have an overdraft with us, you can check whether you are likely to be approved before you apply by using our eligibility checker. It takes just a few minutes and won’t impact your credit rating. This is indicative only and does not guarantee you will be offered an overdraft.
Or, follow our standard New Overdraft process to be assessed if you are eligible for an overdraft.