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Business Overdraft

A flexible short-term safety net for your business

To apply for an Isle of Man Bank business current account you are required to be 18 years or over and be the owner or director of the business you’re applying on behalf of. Your registered business address must also be in the Isle of Man or you should be registered for tax purposes in the Isle of Man.

We're removing business overdraft fees for 3 months

From 3 April to 30 June 2020

As part of our commitment to support our business customers who may be affected by the impact of coronaviris (COVID-19), we have removed arrangement and renewal fees on business overdrafts up to and including £5,000.

Helping you prepare for the unexpected

An overdraft could help your business boost its cash flow when it matters, or help when an unexpected cost comes along.

  • Pay interest only on the amount you borrow
  • No set minimum to pay back each month
  • Ideal for unexpected bills or emergencies

If you don't need the money right away, you can access it at any time within the overdraft term. You won’t be charged any interest if you don't use your agreed limit.

For existing Isle of Man Bank customers no usage of your overdraft will mean that you pay no fees for a period of up to 12 months. After 12 months, we’ll contact you to review.

How much will it cost?

The arrangement fee you pay will depend on your overdraft amount. Details of the fees are displayed in the table.
The interest rate for an overdraft will be specifically catered for your business and you will be informed of this prior to completing your application.