Ulster Bank Loans

APR: 3.4% Representative
Loan amount: £1,000 - £35,000
Repayment duration: 12 - 84 Months
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Ulster Bank Loans customer reviews

4 out of 5 from 2 reviews

Very impressed

04:53 05-10-2010

Imagevia Choose Wisely

I was quite impressed with what Ulster had to offer when one of their long standing customers (ie me) decided to apply for one of the unsecured personal loan packages. I was given a no fee quote and was not given any “Hard Sell” from the very pleasant young lady I was dealing with in store. As I understand it you can also apply online but felt more comfortable with speaking with someone face to face. I decided to take the loan with the funds being made available to me a few days later. I have not looked back since.

Christine

Would definitely recommend

04:52 05-10-2010

Imagevia Choose Wisely

I would definitely recommend this institution for your borrowing needs, many of my friends have now transferred their credit cards to Ulster as well which can all be sorted out online and, like the loan I have taken off them, offer excellent packages and good rates of interest.

James

Our review of Ulster Bank Loans

Our review by Alex
Written by: Alex
Simplicity
37.2
Features
77.7
Consumer sentiment
89.5

Total OPTIOSCORE
70.9/100

Ulster Bank, part of the RBS Group, offer personal loans up to £35,000 at a representative APR of 3.9%. With a rate this low it’s not going to come as a shock that applicants will need to have good credit history and will need to be existing customers who have held an Ulster Bank current account for at least six months.

Ulster Bank do not charge any additional fees, and advertise the fact you can overpay whenever you have additional funds and settle the loan early. If you’re going to settle early then you will need to pay 58 days’ interest for loans over a year, and 28 days’ interest if the loan term was 12 months or under. A real bonus is that you can use your Ulster online banking to manage your loan with ease – you can make overpayments, check your balance and even settle the loan early once you have your final settlement figure.

It’s quite tricky to find online reviews for Ulster Bank, however the limited reviews on Choose Wisely paint a positive picture. They praise the bank for their personal customer service, avoiding hard selling and having the option to manage everything online.

Overall verdict: Ulster Bank have the backing of RBS but seem to have a more personal touch during the loan application. They have both the online and offline world covered which allows customers to interact with the bank in the best way for them. Their APR is affordable and if you’re an existing customer with great credit history then they could be a lender worth exploring.

Highlights

  • Online banking customers can get their loan the next working day
  • Loan term up to ten years available
  • Simple application process
  • Loans can be used for a variety of purposes

Minimum criteria

  • You need to be aged 18 or over
  • You must have had an Ulster Bank current account for at least 6 months
  • No bankruptcy, CCJs or Court Decrees

Fees

  • Maximum APR 24.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Ulster Bank Loans

Ulster Bank offer unsecured personal loans from £1,000 to £35,000 to be repaid over loan terms between one and ten years (depending on loan purpose). Their representative APR is 3.9% and then may differ depending on the loan amount requested, the loan term and your personal circumstances. Their personalised loan quote on the website gives applicants an idea of whether they are likely to be approved and the loan amount and rates that they could be offered. This process doesn’t leave a footprint on their credit history.

To apply for a loan with Ulster Bank you will need to have good credit history, be aged over 18 and be an existing customer who’s held an Ulster Bank current account for at least six months. If you’re an online banking customer, you can save yourself time by pre-populating the form with the details they already hold for you.

Once you have been approved the funds could be with you the next working day if you’re an online banking customer. If not, then they will send your application pack to you, this can take up to a week to arrive after the initial online application. After this has been completed and sent back the loan can be in your account within 48 hours.

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