Variable Rate Loans

A flexible loan for your business

You must be an existing Isle of Man Bank business account customer. Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only.

Any property or assets used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

On this page

Introduction

Features & repayment options

Useful information

How to apply

Variable Rate Loan

The loan amount is tailored entirely to your business needs. Subject to approval
Loans can be taken over a term between 3 months and 25 years
There is no charge for repaying the loan early
Various repayment options available including; capital and interest, capital only and interest only

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A variable rate of interest

Your monthly repayment can go up or down, depending on changes to the Isle of Man Bank base rate.

Flexible borrowing amount

The amount of borrowing is tailored entirely to your business needs.

A range of repayment terms

Minimum loan term of 3 months, maximum 25 years.

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Capital and interest

Make payments towards the initial amount borrowed and the interest.

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Capital and interest

A range of repayment schedules are available to suit your business.
Choose from a range of repayment frequency options and tailor your repayments to match your cashflow.

Capital only

Make payments towards the initial amount borrowed only.

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Capital only

Make no payment of interest for an agreed period.
A range of repayment schedules are available to suit your business.
You will still need to pay the interest in full before the end of the agreed capital repayment period.

Interest only

Make payments towards the interest of the loan only.

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Interest only

Make no payment towards the capital throughout the term of the loan.
At the end of the agreed loan term you will need to repay the capital in full or begin to pay it off.

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Interest rate

Your interest rate will be linked to the Isle of Man Bank base rate.

Arrangement fees

An arrangement fee may apply depending on amount and term of borrowing.

Security fee

A security fee may apply, if any security is taken based on the complexity of the loan.

Useful information

Am I eligible to apply?

What repayment options do I have?

How does Isle of Man Bank make a decision on my application?

Contact us to apply

Existing business customers

If you're an existing business customer with a Relationship Manager, please contact them to discuss opening an account.

If you don't have a Relationship Manager, please call the Business Support team.

Call the Business Support team

Please give your local support team a call to discuss how we can help your business.

01624 637699

Lines are open Monday to Tuesday 9:30am - 4:30pm, Wednesday 10:00am - 4:30pm and Thursday to Friday 9:30am - 4:30pm (except public holidays).

Calls may be recorded.