Frequently Asked Questions
Ulster Bank Personal Loans
Answers to our most common loan questions
If you already have a loan with us then please visit the manage your loan section.
Icon expand Who can apply for an Ulster Bank personal loan?
To apply you will need to be:
Aged 18 or over and permanently resident in the UK
An existing Ulster Bank current account customer for at least 6 months
Unfortunately we are unable to help if you have been declared bankrupt, received a CCJ (County Court Judgement) or Court Decree.
Icon expand How much can I borrow?
You can apply to borrow between £1,000 and £35,000.
Icon expand What can I borrow money for?
You can borrow for a range of purposes for example a new car, home improvements or your annual holiday.
If you're planning to use the loan for more than one purpose, simply select the purpose that will take up more than 50% of the loan. For example, if you're borrowing £11,000 split between a car for £6,000 and home improvements for £5,000, you should select 'Car' as the purpose of your loan.
Icon expand Over what term can I take a loan?
- Loans between £1,000 and £7,499 can be repaid over a term of 1 to 5 years
- Loans between £7,500 and £35,000 can be repaid over a term of 1 to 8 years
- Home improvement loans over £7,500 can be repaid over a term of 1 to 10 years
- Holiday loans can only be taken over 1 year
- The minimum borrowing term is 1 year
Icon expand How soon will I receive my money?
Already bank online with us? We may be able to give you an instant decision on your loan application. In this case (and subject to our final checks) your funds will be available the next working day.
Not registered for our online banking service? We will send you an application pack within 3-7 days of completing the online application. Once you have completed and returned this pack to us, your loan funds will normally be available within 48 hours, provided you meet all of our credit requirements.
If you don't use online banking and require your funds urgently, we would advise you to visit your local branch.
Icon expand I have other borrowing with Ulster Bank, why have you refused my request this time?
Your individual circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.
Icon expand Can I appeal against your decision?
Yes, although we cannot give any assurances that our original decision will be overturned.
You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.
Icon expand How can I improve my credit score?
It's important to understand your credit score and what affects it. Having a good credit history, paying bills on time, not missing payments and not applying for credit regularly will all help give you a good score. Each lender has its own system but generally these things can improve your score:
being in the same job for a long time
owning your home
having lived at the same address for a while (a year or more)
being on the electoral roll