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Plan ahead with fixed rates over a fixed term

Fixed term savings

To apply you must be 16+, resident in the Isle of Man and hold a Cash Management account with us. Early withdrawals or account closure before the Maturity Date of a Fixed Term Deposit are not permitted. Please read the Summary Box below which gives you key information.

On this page
Why choose a fixed term?
What is the interest rate?
How much could I earn?
Managing your account
Can I withdraw money?
Additional information
How to apply

Why choose a fixed term for your savings?

With our fixed interest rate, you'll always know how much your money will grow.

You can open a Sterling Fixed Term Deposit with:

  • £5,000 for terms of 3, 6, or 12 months
  • £25,000 for a 2-year deposit

We also offer Fixed Term Deposits in Euros and US Dollars.

Remember, you won't be able to add or withdraw money from your Fixed Term Deposit until the end of the term.

Summary Box

Account name: Fixed Term Savings

What’s the interest rate?

The actual rates available depends on when the deposit is fixed. As an indication, these rates were available on 22nd April 2025.
Balance
£5,000 – £99,999
£100,000 – £999,999
£1,000,000 – £19,999,999
AER/Gross p.a. (fixed)
3.63%
3.83%
4.03%
Interest rates for our 3-month Fixed Term Deposits are set daily. The above interest rates are an indication only. Please contact us for the latest rates. We'll provide you with an exact rate before you fix the deposit. Interest is calculated daily from the date of your deposit and will be paid into your Cash Management account on the maturity date.
Balance
£5,000 – £99,999
£100,000 – £999,999
£1,000,000 – £19,999,999
AER/Gross p.a. (fixed)
3.71%
3.91%
4.11%
Interest rates for our 6-month Fixed Term Deposits are set daily. The above interest rates are an indication only. Please contact us for the latest rates. We'll provide you with an exact rate before you fix the deposit. Interest is calculated daily from the date of your deposit and will be paid into your Cash Management account on the maturity date.
Balance
£5,000 – £99,999
£100,000 – £999,999
£1,000,000 – £19,999,999
AER/Gross p.a. (fixed)
3.60%
3.80%
4.10%
Interest rates for our 12-month Fixed Term Deposits are set daily. The above interest rates are an indication only. Please contact us for the latest rates. We'll provide you with an exact rate before you fix the deposit. Interest is calculated daily from the date of your deposit and will be paid into your Cash Management account on the maturity date.
Balance
£25,000 – £4,999,999
AER/Gross p.a. (fixed)
3.45%
Maturity date
31/05/2027
This is a limited offer and may be withdrawn from sale at any time without prior notice. Interest is calculated daily and paid either quarterly, annually or on the maturity date into your Cash Management account.

Can Isle of Man Bank change the interest rate?

No, the interest rate is fixed for the term of your deposit. This means that the rate will not change between the date you open a fixed term deposit and the maturity date.

What would the estimated balance be based on a range of deposits and terms?

Fixed amount deposited at start date
£10,000
£100,000
£1,000,000
Interest earned
£90.75
£957.50
£10,075.00
Balance at maturity date
£10,090.75
£100,957.50
£1,010,075.00
These are examples and do not take into account individual circumstances. Interest is paid at maturity.
Fixed amount deposited at start date
£10,000
£100,000
£1,000,000
Interest earned
£185.50
£1,955.00
£20,550.00
Balance at maturity date
£10,185.50
£101,955.00
£1,020,550.00
These are examples and do not take into account individual circumstances. Interest is paid at maturity.
Fixed amount deposited at start date
£10,000
£100,000
£1,000,000
Interest earned
£360.00
£3,800.00
£41,000.00
Balance at maturity date
£10,360.00
£103,800.00
£1,041,000.00
These are examples and do not take into account individual circumstances. Interest is paid at maturity.
Fixed amount deposited at start date
£25,000
Interest earned
£1,754.76
Balance at maturity date
£26,754.76
This is an example and does not take into account individual circumstances. The example assumes that interest is paid at maturity.

How do I open and manage my account?

To apply for this account

  • You must be 16+ and resident in the Isle of Man
  • To open a Fixed Term Deposit, you must have a Cash Management account with us.
  • For 3, 6 and 12 month terms, you can deposit between £5,000 and £19,999,999.
  • For 2 year terms, you can deposit between £25,000 and £4,999,999.

How to open a Fixed Term Deposit

  • Once your Cash Management account is open, you can open a fixed deposit using our mobile app, online, by telephone or in branch. 

Managing your account

  • Once your Fixed Term Deposit starts, you won’t be able to add more money to it.
  • We’ll send you a deposit contract within 14 business days to confirm your deposit details.
  • You can’t take money out of your deposit until the fixed term ends.
  • When your deposit matures, we’ll pay your deposit and any interest earned into your Cash Management account.
  • Once the deposit matures, if you no longer require the Cash Management account, please advise us in writing to close the account.

Can I withdraw money?

Early withdrawals or early closure before the Maturity Date of a Fixed Term Deposit are not permitted.

Additional information

Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Gross means the interest rate you are paid on your savings with no compounding.

p.a. - Per annum (per year).

Ready to apply?

Before you apply for a Sterling Fixed Term Deposit, please review our eligibility, important information and details on how we use your information so you're sure it's the right account for you.

Who is eligible to apply?

You can apply for a Sterling Fixed Term Deposit if you’re:

  • aged 16 or over
  • resident in Isle of Man
  • depositing at least £5,000 for 3, 6 or 12 months or depositing at least £25,000 for 2 years

You'll need a Cash Management account to manage a Fixed Term Deposit.

Please review our important information

If you continue to apply, 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 email you 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 for more information.

Chat to Cora 

Cora can help you apply for fixed term savings account if you're registered for our mobile app or online banking, here's how:

Cora can help you apply for a fixed term savings account if you're registered for our mobile app or online banking, and you hold a Cash Management account. 

If you don't hold a Cash Managment account, you can apply for a Cash Management account.

If you already hold a Cash Management account, here's how to apply:

1. Log in to online banking or open the mobile app

2. choose 'Chat to Cora'

Online Banking -  From your home screen, click 'chat to Cora' to start a chat.

Mobile app - go to the home screen of your mobile banking app. Tap ‘Help’ at the bottom of the screen, then ‘Chat to Cora’.

3. type "fixed deposit" in the chat.

Log in to online banking and chat to Cora

Get in touch

Give us a call on 01624 637000 and we'll be happy to help you apply for a Fixed Term Deposit.

Lines are open Monday to Tuesday 9am - 5pm, Wednesday 10am - 5pm and Thursday to Friday 9am - 5pm (except public holidays). Calls may be recorded.

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