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Rates, Fees and Charges
| Lending | Rate % |
|---|---|
| AA1 Overdraft (Effective from 20 May 2009) | 8.45% |
| Cost of Funds (Effective from COB 23 May 2013) | 1.34% |
New Cost of Funds Definition - Effective from 23rd April 2012
Changes to our terms and conditions and Cost of Funds Rate
Ulster Bank wish to inform our customers that changes will be made to the following terms and conditions, dealing with the way we calculate our cost of funds rate.
- Terms and conditions for Business Lending to Companies
- Terms and conditions for Business Lending to Individuals
- Terms and conditions for Business Lending to Partnerships
The Cost of Funds Rate is the interest rate which is applied to certain loans, overdrafts and invoice discounting facilities, primarily for business purposes. Specifically, we are changing the definition of the Cost of Funds Rate which is set out in Section 9 of our General Terms and Conditions for business lending to companies, partnerships and individuals. The revised definition also applies to Consumer Credit Act (CCA) and Consumer Credit Directive (CCD) facilities which are priced off our Cost of Funds Rate. The Cost of Funds Rate will change also.
These changes will take effect on 23 April, 2012.
As the rate can fluctuate it is not possible to predict the exact new Cost of Funds Rate on 23 April, 2012. However it is anticipated that the Rate will increase by approximately 0.12%.
You can find a copy of the updated terms and conditions above or in any business centre.
The Cost of Funds Rate is updated weekly and is published on this site under the "Business Lending Rates" heading.
If you have any queries, please contact your Relationship Manager or Branch.
Business Loans and Finance Rates
Your Relationship/Commercial Manager are on hand to offer information on our funding packages to suit your individual business needs. See our available range of funding solutions for more details.
Pre-notification of Charges for Non-Personal Customers
Since non-personal customers have individual needs, each account is assessed on an individual basis to calculate a fee based on the level of activity. Account fees are charged to these accounts each quarter in March, June, September and December.
Depending on the level of activity of your non-personal account you will receive either an "advice of charges" or a letter in advance of the fee being applied to your account. Where your fees and debit interest are calculated and applied quarterly, an "advice of charges" will be forwarded to you at least 10 working before those fees are applied to your account.
Where your fees are calculated on an annual basis, a letter with a schedule detailing activity and charges will be forwarded to you once per year, or more often if changes in your account activity have occurred, at least two weeks before the first quarterly charge is applied. The schedule gives a detailed breakdown of your transaction and account maintenance fees and the amount to be deducted from your account.