Debt Consolidation Loans | Consolidate Your Debt Today | Ulster Bank

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Debt Consolidation Loans

Debt consolidation could help you manage your finances

Use our loan calculator

Borrow between £7,500 and £19,950 at our rate of 

Representative 3.9% APR

Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR. Available to existing Ulster Bank current account customers over  the age of 18 who reside in the UK.

Paying too much for an existing loan or credit card?

A debt consolidation loan could be used to pay off your existing credit cards, store cards and other personal loans. You could consolidate all your debt into the one loan and only have one payment to make each month.

Taking on any new debt is a big decision; extending the term of your debt can incur more interest and cost more in the long run and sometimes an early repayment charge may apply.Early Repayment Charge (ERC) is a fee that sometimes applies when re-paying debt early. It is less common with credit or store cards but more common with loans. If an ERC applies, remember to take it into account when working out the cost of a new loan.

Things to consider before applying

Work out how much you may need to borrow

Make a list of all your debts. Check the outstanding balances, interest rates you are currently paying and if there are any early repayment charges you'll need to cover from paying the debt early.

 

If you're applying for a sole loan only you could borrow between £1,000 and £50,000. You'll get full details on this higher limit during your application when getting a quote.

Use our helpful tools

Thinking about a debt consolidation loan? You might want to use our loan calculator to find the right loan for you. It can give an indication of how much you could borrow, your representative interest rates and monthly payments.

 

Think through your options, for example using savings to reduce debt could be cheaper than a new loan.

The interest you receive on your savings might be lower than interest you pay on a loan so you might want to consider paying off your existing debt with any savings you have.

 

If you're struggling with excessive monthly payments you may want to speak to your current lenders, they may be able to help with a new payment plan or a re-payment holiday.

Ready to apply?
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