Graduate Overdrafts - Overdrafts | Ulster Bank

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Graduate overdrafts

Helping you find your feet after you graduate

Open to UK residents aged 18 or over with an Ulster Bank Graduate Account. Lending is subject to credit review and approval. 

  We're changing our overdraft pricing on 27th March 2020. See these changes in detail

With an Ulster Bank Graduate Account you can apply for an interest-free arranged overdraft of up to £1,500 for up to one year after you graduate (subject to credit review and approval).

Simply call into your local branch to apply and we will be happy to help.

Overdrafts are a way of borrowing money and you're responsible for repayments if you decide to use one. If you're unable to repay what is owed, you could harm your credit score. Most lenders use this to assess whether they'll lend to you.

Could be ideal for short-term borrowing or in an emergency

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An Arranged Overdraft allows you to go overdrawn up to an agreed limit. So, if payday is still a long way off and you’re getting a bit short of cash, that’s where our Arranged Overdraft could help.

Sometimes it’s just the general cost of student living, sometimes it’s an unexpected bill or expense. Whatever the reason, an Arranged Student Overdraft is a convenient type of short-term borrowing that can provide a short-term safety net on your current account.


What you should know


An Arranged Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place before any payments are due to come out of your account.

An Unarranged Overdraft is when you spend more money than you have in your account without already having an Arranged Overdraft, or when you exceed your current Arranged Overdraft limit.

If you're in an Unarranged Overdraft and you try to withdraw more funds, you'll be charged an Unpaid Transaction fee of £2.75. (The maximum we’ll charge you in a monthly charging period is £2.75.)

Both types cost money

Both types of overdrafts will cost you money in fees, but an unarranged overdraft will cost you more and might result in payments such as household bills being rejected.

How to apply

To apply online you should:

  • Be 18 or over and resident in the UK
  • Be registered for Anytime Banking
  • Have an Ulster Bank Student Account

If you are not registered for Anytime Banking you can register now

Useful tips
When you apply we will quote the maximum limit we can offer you, so please stay within this amount.

We will also ask for a review date for your overdraft. Please enter your graduation date when asked for this.

Manage your finances Keeping an eye on your account

Checking your balance regularly could help you avoid going into an unarranged overdraft. You can do this in many ways.

Mobile Banking

Keep track of your money wherever you are with our secure and easy to use mobile app.

More about our apps

Anytime Banking

Check your balance, pay bills and make transfers 24/7 from the comfort of your home.

More about Anytime Banking

Text Alerts

Alerts are a simple way to keep up-to-date with your accounts and avoid unnecessary charges.

More about Text Alerts

Important information

An overdraft is repayable on demand. Overdrafts may not be exceeded without prior permission. If we decide not to make a payment you may be charged an Unarranged Overdraft usage fee or an Unpaid Transaction Fee if we decide not to make a payment as detailed in Your Overdraft Charges.  We won't charge you more that £80 in a monthly charging period for an unarranged overdraft or any unpaid transactions. 

We may carry out credit scoring, where we assess whether credit is affordable for you based on the information you provide.

Tools to help you

Find out how much you're likely to pay

Why not use our overdraft cost calculator to see what an overdraft could cost you based on your circumstances? The great news is it won't impact your credit rating.

Check your chances before applying

Give our eligibility tool a try and find out if you're likely to be approved for an overdraft. It can give you an idea of your potential overdraft limit and representative APR.  It takes just a few minutes and it won't harm your credit rating. 

Ulster Bank subscribes to the lending code. The Code can be accessed here.

How your information might be used

It’s important for you to understand how we use and share your information.  Please read this short summary before you continue with your application.

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