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Instant Saver account

Our simple instant access account

To apply you must be 16+ and resident in Isle of Man. Please read the Summary Box below before you apply, this will give you key information about Instant Saver.

Why choose Instant Saver?

Instant access to your money when you need it.

No minimum deposit required.

Apply online in less than 10 minutes.

Summary Box

Account name: Instant Saver

What is the interest rate?

Interest is calculated daily and paid on the first business day of the month and at account closure. You’ll be able to see and access the interest in your account on the following day.

Can Isle of Man Bank change the interest rate?

Yes, these rates are variable. They may be changed for any of the reasons set out in Term 10.3 of the Personal Banking Account Terms and Fees, e.g. following Bank of England base rate changes or changes in the rates paid by other banks. If the rates are going down we’ll give you at least 60 days’ notice. If they are going up, we’ll inform you before the change or shortly afterwards. Term 10.4 contains details of the notice we’ll give you.

How much could I earn?

Estimated balance after 12 months based on a range of deposits.
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to the interest rates; and any interest earned stays in the account.

How do I open and manage my account?

  • You must be aged 16 years or over to open an account.
  • You can open your account in branch or online and manage your account in branch, online, by telephone and on the mobile app.
  • You can also pay money into your account at one of our cash deposit machines.
  • No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.

Can I withdraw money?

Yes. No notice is required. You can withdraw money:

  • in branch
  • by transfer to any other account based in the UK (online, by telephone or on the mobile app)
  • up to £250 per day at any cash machine

There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking.

The current daily limits and how to withdraw more than them can be found on this website or by contacting telephone banking.

Definitions

Annual Equivalent Rate (AER): This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Gross Rate: The interest rate you are paid without the deduction of income tax.

p.a.: Per annum (per year)

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

Are you resident in the Isle of Man?

You can apply for an Instant Saver account if you are:

  • Aged 16+ and permanently resident in the Isle of Man.

Please review our important information

By clicking continue you’re confirming that you’ve been provided with, and have acknowledged our important documents. By proceeding with your application you also agree that you’ll receive your statements in a paperless format. We'll send you an email when your statements are ready to view in Online banking.

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 already bank with us?

Would you like to apply for a sole or joint account?

Great, looks like you're all set and ready to go!

Just so you can have what you need to hand, here's some of the information we'll ask for:

  • Your personal details (name, date of birth etc.)
  • Your address & contact details
  • Your tax identification number & passport number

Great, looks like you're all set and ready to go!

Just so you can have what you need to hand, here's some of the information we'll ask for:

  • Your personal details (name, date of birth etc.)
  • Your address & contact details
  • Your tax identification number & passport number

Do you know your Online banking details

Great, looks like you're all set and ready to go!

Just a heads up - we'll ask you to log in to your Online banking at the next step.

Great, looks like you're all set and ready to go!

Just so you can have what you need to hand, here's some of the information we'll ask for:

  • Your sortcode & account number
  • Your personal details (name, date of birth etc.)
  • Your address & contact details
  • Your tax identification number & passport number

We're sorry...

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