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The rate may vary but the benefits don't.
The Variable Rate Loan is designed for those who are comfortable with variable rates of interest, and who may want to pay off their loan early with no early repayment charges.
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Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
Loan details
Borrow from £1,000 with no maximum upper limit, subject to credit approval
Repayment terms from 3 months up to 25 years
You can take the loan in instalments (tranche drawdown)
No early repayment charges, conditions apply
Capital Repayment Holiday available, subject to approval. Conditions apply and you must keep paying the interest during the repayment holiday
Arrangement and security fees may apply
The interest rate under our variable rate loan varies in accordance with the Ulster Bank base rate
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Enquire online now in less than 2 minutes
We'll be in touch to talk through possible solutions tailored specifically to you.
Changes in the Ulster Bank base rate will affect the amount you need to pay to fully repay your loan. If you repay your loan from an account with Ulster Bank or via Direct Debit, we will automatically adjust your repayments to reflect changes in the Ulster Bank base rate going forward (or, wherever possible, let you know if we are not able to do so for whatever reason). If you repay your loan via standing order from an externally banked account, we will be in touch to let you know the next steps required to adjust your repayments accordingly.
How does a Variable Rate Loan work?
A Variable rate loan has a rate of interest that varies in accordance with the Ulster Bank base rate, so your regular instalment amount may rise or fall as a result.
Representative APR
Monthly payment
£7,500
Interest rate %
8.2%
Representative APR %
£137.55
Total Repayment
£8,253.00
87.50% of SME customers received an end quote that was the same, better or no more than 10% above their indicative quote.
You may also be eligible for a Business Overdraft.
Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.
Representative APR (Annual Percentage Rate) is used for comparison purposes and shows the annual interest we expect at least 51% of customers who are accepted for and enter into a loan agreement with us to get. APR takes into account not just the interest on the loan but also other charges you have to pay, for example, any arrangement fee.
Minimum arrangement fee of £150 applies for loans up to £10,000. Above £10,000, an arrangement fee of up to 1.5% will apply.
Enquire online in just 2 minutes
Simply tell us a little about your business and we'll be in touch to talk through possible solutions tailored specifically to you.
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Speak to our team
If you have a Relationship Manager speak to them to discuss your needs, or phone us to speak with our dedicated team.
Lines are open 9.00am – 5.30pm Monday to Friday (except public holidays).
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