Overlay

Business Overdraft

A flexible short-term safety net for your business

Our Business Overdraft helps you prepare for the unexpected

  • Pay interest only on the amount you borrow
  • No set minimum to pay back each month
  • Ideal for unexpected bills or emergencies

For existing Ulster Bank Business Account customers for up to 12 months. After 12 months, we’ll contact you to review. Interested in our business current accounts? See the range.

What is a Business Overdraft?

It’s a flexible short-term lending option for businesses.

A Business Overdraft works as a safety net for unexpected expenses. It gives you an extra buffer in those times when you're waiting for payments from customers and might not have enough money in your account to cover incoming expenses.  

Overdraft in detail

Flexible monthly payments

You can reduce your business overdraft by as much or as little as you want each month, with no set minimum pay back each month. 

Borrow up to £50k unsecured (subject to credit approval)

If you have a relationship manager, contact them about your borrowing needs. If you don't have one and wish to borrow up to £50k you can apply online. For more borrowing options, visit our loans page. 

Boost cashflow and only pay interest on what you borrow

If you need help when an unexpected cost comes along, an overdraft is there if you need it. If you don't use your Business Overdraft you won't pay any interest. Simple as that. 

Useful info about our Business Overdraft

Ready to apply

If you have a Relationship Manager, please contact them in the first instance to discuss your options. If you do not have a Relationship Manager, apply below. 

How much do you want to borrow?

Business Overdraft Calculator

Min value Max Value

Please note. You can only check rates up to £25,000.

Business Overdraft available over 12 months only.

 

  • Interest on your account is calculated daily, based on your end of day balance and rate and charged to your account quarterly.
  • Please be aware, should you exceed your overdraft limit or have an item returned unpaid due to insufficient funds, our unauthorised borrowing rate and standard transaction charges will apply. 

Representative EAR

Interest Rate %

5.25%

Arrangement Fee

£300

Representative EAR (Effective Annual Rate) is used for comparison purposes and shows the annual interest rate we reasonably expect at least 51% of customers who are accepted for and enter into the overdraft agreement to get. It is calculated by using the rate of interest charged if you remained overdrawn for a year, the frequency with which interest is charged, and the effect of compound interest on your debt. The Representative EAR does not include other fees or charges.

81.82% of SME customers who used the eligibility checker received an end quote that was the same, better or no more than 10% above their indicative quote.

4 reasons to choose Ulster

We’re open for UK businesses

We're helping so many businesses across Northern Ireland. Why not be part of the success?

We’re experts in most fields

We have customers in most sectors, so you can be confident with our expertise and support.

We offer a support network

You'll receive your own Relationship Manager (turnover and eligibility criteria apply).

Our app makes it easier for you

With fantastic features, our app can do the heavy lifting, so you can focus on your business (eligibility criteria applies).

Additional lending for your business

Looking for a quick cash option?

A Small Business Loan offers fast and flexible borrowing that could suit your needs, see if it’s right for you.

Information Message

Looking for other ways to grow your business?

We have a range of finance options to cover your needs, including flexible loans, overdrafts and alternative business funding.

Information Message

Lending with the safety of fixed repayments

Turn your long-term ambitions into action with a Fixed Rate Loan. Borrow from £25,001 to £10m, subject to approval.

Information Message

Something else we can help you with?