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Arranged Overdrafts

Breathing space for your finances

A buffer for your current account

Arranged Overdrafts

An arranged overdraft is a set limit we agree with you (after you've successfully applied). The limit then lets you spend more than you actually have in your current account. This might be on things like paying a bill that you'd forgotten about just before pay day.

As an example, if you have an arranged overdraft of £100 and £50 of your own money in your current account, you could then make a payment of up to £150.

Unarranged Overdrafts

An unarranged overdraft is where you spend more money than you have in your current account and haven't agreed an arranged overdraft limit beforehand, or you go over your arranged overdraft if you have one.

If you enter an unarranged overdraft you may be charged unarranged borrowing fees depending on the type of current account you have and how long you remain in that position.

We won’t charge you more than £80 in a monthly charging period for an unarranged overdraft or any unpaid transactions.

New Arranged Overdraft

Arranged Overdrafts are available to eligible Isle of Man Bank current account, student account and graduate account customers, aged 18 or over. Subject to lending criteria.

Select or Gold current account customers

  • You only pay interest and fees if you use it
  • Interest-free buffer depending on your current account
  • Get an instant decision if you bank online with us

Student account customers

  • Interest-free overdraft up to £2,000 (£500 in first term)
  • Get an instant decision if you bank online with us

Graduate account customers

  • Interest free overdraft up to £2,000 (for your first year)
  • May be ideal for short-term borrowing


Change or remove your overdraft

Need to request an increase or reduction to an existing overdraft limit? You can get an instant decision today if you apply online.

You can also request that your overdraft be completely removed if you don't want it anymore. Bear in mind, you won't be charged if you don't use your Arranged Overdraft.

Arranged Overdraft interest rates

Choose your account type below and you’ll see the rates applicable to an Arranged Overdraft.
Arranged overdraft interest is calculated on a daily basis and charged monthly.

Useful overdraft information

Ready to apply? Great, let's get started...

Are you resident in the Isle of Man?

Do you have an Isle of Man Bank current, student or graduate account?

You can apply for an Arranged Overdraft if you are:

  • Aged 18+ and permanently resident in the Isle of Man.
  • Hold an Isle of Man Bank Select, Gold, Student or Graduate account.
  • You've not been declared bankrupt over the past 6 years.

Please review our important information

By clicking continue you’re confirming that you’ve been provided with, and have acknowledged our important documents.

How your information might be used

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

Ready to continue?

Do you have Online banking?

What do you want to do today?

Register for Online banking before you apply

To apply for an Arranged Overdraft online you need to be registered for Online banking.

If you have your debit card to hand you can register today.

You need to have an eligible current account with us

Our Arranged Overdraft is only available to existing Isle of Man Bank customers who already have one of our eligible current accounts.

We're sorry...

We currently only accept applications from residents of the Isle of Man.