

Overdrafts
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.
What is an overdraft?
An arranged overdraft can give you access to extra funds in your current account when you run out of money unexpectedly. It is a set amount that we agree with you after you have successfully applied.
For example, if you have €30 in your current account and you have an overdraft limit of €100, you could then make a payment of up to €130.

You only pay interest when you use your overdraft. Interest is charged on the amount you've borrowed at the stated rate for your account, as long as you're within your limit. Set up and annual renewal fees also apply.
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.
There are two fees you need to know about. Both of these fees are €25.
- Overdraft set-up fee - paid when your overdraft is set up or your limit is increased
- Annual overdraft fee - paid annually on the anniversary of the overdraft set-up date or the date a limit increase is applied

If you spend more money than you have in your account, or go over your overdraft limit, this is called an unarranged overdraft. This could work out to be more expensive than using an arranged overdraft because of the charges involved.
For full details of the interest and charges please read A guide to personal account fees and interest.
Arranged overdrafts are available on the following accounts:
Current, Private, Current Plus*, ufirst*, ufirstgold*, ufirst Private, Student and Graduate Accounts.
Arranged overdrafts are not available on the following accounts:
Dual*, Service, Adapt, Facility* or Standard Accounts.
*These accounts are no longer available to new customers.

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.