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time frame for receiving student professional loan

  • 02-09-2008 1:52pm
    #1
    shewasoctober
    Closed Accounts Posts: 134 ✭✭


    I'm banking with Ulster Bank. I have a professional student account with them, recently opened as I just moved here from the US. I am a trainee accountant with a salary. I applied for the student professional loan; they take your salary into consideration on this one. It's been a week since they sent my loan off. This past Friday they told me that I should hear something on Monday or soon after. I know it's only a day past Monday and that the application was only sent off a week ago, but I'm worried because I'm counting on that loan to get me started until I receive my first pay at the end of the month. I start work on Monday and don't even have a suit yet.

    My questions are: how long does it usually take from the time they send the loan off for approval until the money is in the account? After signing the app and sending off, will I hear from them and have to sign another agreement? If so, how long after that will I have the money?

    I'm really on a limited time frame here. I've gotten loans before in a weeks time in the States, so I'm just wondering the time frame here. Things got delayed because my letter from the ICAI was delayed, followed by having to wait 7 days for the bank giro to clear fro GNIB card and stamp, which the bank needed for the loan app.

    Anyway, and thoughts and help will be much appreciated. Thanks in advance.


Comments

  • #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Perhaps unclebill could shed light on this? No offence (unclebill) but Ulster Bank damm well take their time when it comes to loan apps :D


  • #3
    shewasoctober
    Closed Accounts Posts: 134 ✭✭shewasoctober


    stepbar wrote: »
    Perhaps unclebill could shed light on this? No offence (unclebill) but Ulster Bank damm well take their time when it comes to loan apps :D

    Thanks. That's what I figured, but I can't bank the bank I would've liked to because of where I work. It sucks.


  • #4
    prendema
    Closed Accounts Posts: 18 ✭prendema


    I applied for an Ulster Bank loan on the 21st August. It took them a week to send out the documents. I posted them back on the 28th and its still not been processed/approved.

    I took out a loan with them last year (now paid back) via my online banking. I have the documents to sign two days later and the funds were transfered with two weeks of making the application.

    There seems to be no happy medium with them!


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