Overdrafts - overview
If you need some extra money and you're over 18 with an Ulster Bank Current, Current Plus, ufirst or ufirstgold account, an overdraft could be the answer. As long as you don't go over your agreed limit, you won't pay any fees! (Our unarranged borrowing rate and fees will apply if you borrow over your agreed limit.)
Once you've agreed your overdraft with us, you can use it at any time - without having to contact your branch. There are other overdrafts specially designed for students and graduates.
Benefits
- You can increase or reduce your limit whenever you want. (Increases to overdraft limits depend on credit scoring. Credit scoring is used by many lenders to help them make decisions about whether to provide credit. It is a proven statistical technique which allows the lender to predict how likely you are to repay the credit and is widely recognised as one of the most consistent, accurate and fair ways of assessing credit risk.)
- You only pay monthly interest on what you borrow, when you stay within your agreed limit.
- You don't have to renew your overdraft each year.
- If you have a ufirst account, you can enjoy an overdraft up to £500 interest-free 0% EAR. If you're a ufirstgold account holder, you can have an overdraft up to £1000 interest-free 0% EAR.
Arranged debit interest rates
| Type of account | Gross rate each year (variable) | EAR (variable) |
|---|---|---|
| Current (all amounts) | 12.88% | 13.7% |
| Current Plus (all amounts) | 13.84% | 14.8% |
| ufirst (above £500) | 10.96% | 11.5% |
| ufirst gold (above £1,000) | 8.80% | 9.2% |
You will find information on our charges and interest rates is set out in our brochure 'A Guide to Personal Account Fees and Interest'.
Lending criteria, terms and conditions apply. Over 18s only. You must repay the overdraft when we demand. You cannot go over the overdraft limit without getting our permission. If you go over your overdraft limit, we will charge interest at the rate shown in our 'A Guide to Personal Account Fees and Interest' brochure. You will have to pay a maintenance charge and other charges. Please ask in branch for details.
ufirst monthly membership £9. ufirstgold monthly membership £13. You must be over 18 and living in Northern Ireland only.
You can ask for details of fees and charges from any Ulster Bank branch.
