Manage Your Personal Loan | Coronavirus support | Ulster Bank

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Coronavirus: loan repayment break


We understand this is a difficult time for many of our customers. Following the latest government coronavirus announcements, we’ve updated our website to reflect what support is available to you if you are financially impacted.


Is your existing loan repayment break coming to an end?


If you've had two repayment breaks, please refer to the email we'll send you around 3 weeks before your payments are due to restart for further help and support.

If you’ve had one repayment break and you need additional support, you could apply a further 3 month repayment break, up to a maximum of 6 months in total. Find out more about your options.


Apply for a repayment break

If you are finding it difficult to pay your monthly loan repayment as a result of coronavirus, then you can ask for a 3 month loan repayment break which won’t impact your credit score.

Your payments will still accrue and you will need to repay the deferred payments including interest, within an agreed timescale after the deferment period. As interest does continue to be charged, this means that you could end up paying a higher amount per month than before the deferment period. 

To apply, log into our mobile app, simply tap ‘Help’ at the bottom of the screen followed by ‘Message us’and quote ‘coronavirus loan’ in your message. 


Icon expand What is a 3 month loan repayment break?

We won't take repayments to your loan for 3 months. Your payments will accrue as arrears on the bank's systems and you will need to repay the repayments deferred including interest, within an agreed timescale after the deferment period.


Icon expand Will taking a 3 month loan repayment break impact my credit score?

No, you don’t need to worry. If your loan repayments are up to date when requesting your repayment break, we won't report negative data to the credit reference agencies provided you either repay the arrears in full at the end of the 3 months or agree a repayment plan with us and keep to that plan. 

If you’ve agreed a loan repayment break with us after 1 March and before 9 April 2020, and your payments were up to date when you applied we’ll make sure that your credit file continues to show up to date. You don’t need to contact us, we’ll do this automatically for all requests.


Icon expand I have several Ulster Bank loans, can I take a payment break on them all?

Yes - if these are all fixed rate personal loans and all your payments are up to date you can apply for a 3 month repayment break for each loan. You need to make a request for each loan you hold with us. If we can't agree the repayment break request (e.g. if already in arrears) we'll get in touch with you.


Icon expand How long does it take to set up a loan repayment break and how will I know that my request has been accepted?

Once we have received your request, we will contact you within 5 working days with the outcome of your request. Usually we will email you but we may also contact you by other means.


Icon expand What information will I need to hand for my loan repayment break application?

You will need your 8 digit Personal Loan account number and 6 digit Personal Loan sort code to hand. You can find these in the mobile app on your main account summary screen where the list of accounts held with us is displayed.  Alternatively, it is also on your loan statements we issue to you each year.


Icon expand What happens after the end of my 3 month loan payment break and when will I need to make up the loan repayments I’ve missed?

We will contact you at the end of the repayment break around 3 weeks before your repayments are due to start again to agree next steps for your loan. We will contact you for each of your loans seperately.
If you are able to make your deferred repayments (known as arrears) in full at that time, no extra interest will be charged.

If you are unable to make your deferred payments in full, and you were not in arrears at the time you applied for a repayment break, we may agree with you to extend your loan in order to maintain your existing monthly repayment amount.  We will charge additional interest if the loan term is extended, so you will pay more interest overall.

If you are unable to start repaying your loan again we will provide details of the support available when we contact you by email or letter. You can also contact us at any time through "Message us" on the Mobile App and asking about "payment holiday ending".


Visit our dedicated additional support page for more information.

Managing your loan Need help with your personal loan?


Make an overpayment

You can make overpayments to your loan at any time and this could shorten your loan term. We recommend that you contact us to discuss the impact of the extra payment.

Find out more
Managing your loan Making an overpayment

You can make overpayments at any time and this could shorten your loan term.

For loans applied for from 15 November 2010 we charge:
- 58 days interest if the contractual loan term is more than 12 months
- 28 days if the contractual loan term is 12 months or less
- The remaining number of days interest if there are less than 58 days (or 28 days) left in the loan term
- Interest is charged on the amount by which your outstanding balance is reduced

We recommend you visit your local branch if you would like to discuss the impact of the overpayment before you make it.

Locate your nearest branch


If you bank online:

You can set up a new payee to make additional payments into your loan. You may be asked to use your card-reader when setting up a new payee. You can order your card-reader from within your online banking service.


Change your loan details

To change your personal details, the date your loan repayment is paid or the bank account that your loan is paid from, please get in touch and we will be able to help.

Change your details
Managing your loan Changing your details

If you need to change your monthly repayment date or bank account your loan is paid from please visit us in branch where we will be happy to help.

Locate your nearest branch


If you need to change the name or address related to your loan, there are numerous ways that you can let us know.  Find out your different options here.


Borrow more from us

If you are thinking of borrowing more from us, we will ask if you want to keep or close your existing loan during the application process. We have borrowing options that could suit your needs.

View options and apply


Add your signposting title here… Common questions

Help to manage your money

We know that staying on track with your finances, so that you can plan for your future, can be tricky. We're here to help you to stay in control. Use our MoneySense page for hints and tips that might help.

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