A little breathing space when you need it
Open to Republic of Ireland residents, aged 18 or over with an eligible Ulster Bank current account. Lending is subject to credit review and approval.
An overdraft provides you with breathing space when you need it. It can also help if an unexpected bill comes out of your account.
Borrow up to a maximum of one month’s salary, subject to approval. For limits higher than €15k or temporary limits please contact your branch.
As long as you stay within your agreed limit, you only pay monthly interest on what you borrow. Set-up and annual renewal fees also apply.
Remove your limit, or request an increase or decrease whenever you want. There’s no set amount to pay back each month, although interest charges will apply.
To help you through your student days we offer an interest-free overdraft of up to €2,500 depending on your course and level of grant (subject to credit review and approval).
You can also apply for an interest-free overdraft of up to €1,500 (subject to credit review and approval) for up to one year after you graduate.
An overdraft is repayable on demand and may not be exceeded without prior permission. If you exceed your limit, surcharge interest plus debit interest will be applied to any amount over the authorised limit. Other charges may also apply. Please see A guide to personal accounts fees and interest for details.
How much interest will I be charged?
Your actual monthly interest rate charges will depend on how often you use your arranged overdraft and how much you use, as arranged overdraft interest charges are only incurred when you use your overdraft.
If your overdraft has a rate of 15.55% and a limit of €1,000 and you go overdrawn by €100 for 10 days in the month, your will be charged €0.42 in interest for that month, calculated as follows:
Daily Rate x Amount Overdrawn x Number of Days = Interest Charged
(15.55% ÷ 365 days a year) x (€100 Overdrawn) x (10 days Overdrawn) = €0.42
€1,000 overdraft limit
Rate of interest 15.55% p.a. variable
For more details on our rates and charges please see A guide to personal accounts fees and charges.
Is the rate always better on arranged overdrafts than on unarranged overdrafts?
Yes, we charge a lower rate for arranged overdrafts. Unarranged borrowing charges include the arranged overdraft rate plus a surcharge interest rate of 9% (variable).