Business Overdraft
Flexibility of having extra funds when your business needs it.
Take control with greater flexibility for your business.
A Business Overdraft from Allied Irish Bank (GB) allows you to go into an overdrawn position up to a pre-agreed limit. So you have peace of mind that extra funds are available outside your normal cash flow, should you need them. It’s versatile and easy to use, allowing you to manage your working capital and prepare for one-off or unexpected spending without having to look for a new credit facility every time.
To apply for a business loan or business overdraft, your company must be incorporated and registered in the UK.
13.92% EAR* (variable) representative on Standard Tariff Unsecured Business Overdrafts up to £25,000.
(other overdraft amounts available at alternative rates)
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Representative example |
| New Standard Tariff Unsecured Business Overdrafts of £5,000 will be charged at 13.92% EAR (variable). Charges may apply. An arrangement fee will be charged of normally 1% (minimum £55). Renewing or increasing an overdraft will be charged at 0.5% minimum. |
*Effective Annual Rate of Interest (EAR): This is the illustrative annual cost of an overdraft, stated as an annual rate, which takes into account how often arranged overdraft interest is charged to the account and does not include any other fees or charges.
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Features and benefits
As an Allied Irish Bank (GB) Business Current Account holder, you can apply for a Business Overdraft up to an agreed limit.
Cost effective lending - you only pay interest on the money you actually borrow.
Tailor-made terms – we look at your application on an individual basis and agree your credit limit.
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How it Works
Business customers who meet the requirements of our financial assessment can apply.
Before offering your business a loan or credit facility, we will assess whether we feel you will be able to repay it.
All overdrafts are repayable on demand and subject to annual review.
To avoid additional charges you must arrange your business overdraft prior to being in an overdrawn position.
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Fees and Interest
An arrangement fee may apply.
Interest is calculated and debited to the account quarterly.
Further information on interest rates, fees and charges is available from your local Business Centre.
Information on Business Banking fees & charges and terms & conditions are available by clicking on the links above.
Talk to Us
Simply call +44 (0)345 600 5204†. We’ll be happy to answer any questions you might have about applying for Invoice Finance with Allied Irish Bank (GB)
† Lines open: Monday – Friday 09:00 – 17:00 (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.
Help and Guidance
Help Centre
For all service related queries please visit our Help Centre.
Looking for Finance
For information on the documentation you will need to apply for a finance product with us.
We adhere to the Standards of Lending Practice for Business Customers which sets standards for banks when dealing with lending and overdrafts for business customers. You can get more information on the Standards from www.lendingstandardsboard.org.uk. The Statement of Lender and Borrower Responsibilities details our key responsibilities and what we ask of you to ensure that the relationship works well for both of us.
Other Information
Availability of credit depends upon our assessment of your financial position. We encourage you to take independent legal advice to ensure that you understand your commitment and the possible consequences of your decision.
Please note that security may be required and overdrafts are repayable on demand.
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AIB Group (UK) p.l.c. is covered by the Financial Services Compensation Scheme, Financial Ombudsman Service and is a Registered Firm with The Lending Standards Board.
The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trade marks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.