Notice Deposit account

Restricted access to your savings for a better return

To apply you must be 18+ and resident in the Isle of Man. Your business must be registered in Isle of Man and you need to have a Cash Management account to apply for a Notice Deposit. Minimum deposit 25,000 (per currency).

Notice Deposit account

A Notice Deposit allows you to earn higher returns on surplus funds without having to lock them away for an extended period.

  • Choose from 35, 60 or 90 day notice period
  • Available in GBP, EUR and USD
  • Minimum deposit 25,000 (per currency)

Notice Deposit interest rates

Rates effective from 7th November 2022 and are subject to variation.
Minimum deposit 25,000 (per currency). Interest is calculated daily and paid on the last business day of each quarter in March, June, September and December, or at account closure.


  • AER stands for Annual Equivalent Rate and illustrates the interest rates as if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
  • Gross Rate means the interest rate you are paid before the deduction of tax. 
  • Notice Deposit Interest rate is the rate customers receive on their Notice Deposit during the life of the deposit.
  • p.a. is per annum (per year).
  • Step down rate is the rate received on withdrawal of funds.

How does a Notice Deposit work?

You can manage your Notice Deposit in branch, by telephone or in writing.

  • Please note that if you do not already maintain a Cash Management account, you'll need to open one when applying for a Notice Deposit.
  • The deposit operates on a notice basis; interest is paid at the applicable rate until a minimum 35, 60 or 90 days notice of withdrawal is instructed on the 35, 60 or 90 day Notice Deposit.
  • Once notice has been provided, the amount, to which the notice applies, is placed on a Fixed Term Deposit. The Fixed Term Deposit interest rate on this amount (the Step Down Rate) will be calculated using the prevailing Headline rate for 35 day Notice less a fixed margin of 0.20% known as the ‘the Step Down rate’, plus the prevailing Headline rate for the remainder of the 60 and 90 day Notice Deposit products.
  • Upon maturity of the Fixed Term Deposit the balance plus any earned interest will be credited to the Cash Management account from where it can be withdrawn.

Can the interest rate change?

Yes, the rate is variable; the Notice Deposit interest rate can increase or decrease. If rates go down, we’ll give you notice of the change as follows:

  • at least 35 days notice for a 35 Day Notice Deposit
  • at least 60 days notice for a 60 Day Notice Deposit
  • at least 90 days notice for a 90 Day Notice Deposit

If rates go up, we’ll give you notice either before the change happens or as soon as possible afterwards.

The Fixed Term Deposit interest rate remains the same for the term of the Notice Deposit.

Can I withdraw money?

Yes, subject to a minimum withdrawal notice period of:

  • 35 days notice for a 35 Day Notice Deposit
  • 60 days notice for a 60 Day Notice Deposit
  • 90 days notice for a 90 Day Notice Deposit

Early withdrawals are not permitted. The notice period is effective from the date of receipt of the instruction to withdraw. If we receive your instruction after 12pm or on a non business day, notice will commence on the next working day.

Is there a minimum and maximum deposit and withdrawal amount?

  • There is a 25,000 (per currency) minimum deposit requirement to open and maintain a Notice Deposit account
  • There is a £250 million (or currency equivalent) maximum deposit per customer
  • The minimum deposit and withdrawal amount is 25,000 (per currency) however this is not applicable to online transactions made through eQ

Depositor Compensation Scheme

Isle of Man Bank is a member of the Isle of Man Depositors’ Compensation Scheme (DCS) as set out in the Depositors’ Compensation Scheme Regulations 2010. 

To understand your eligibility under the scheme you may wish to visit the Isle of Man Financial Services Authority website.

Apply for a Notice Deposit

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Existing business customer?

If you're an existing business customer please contact your Relationship Manager on their dedicated telephone number.

Alternatively, call into your local branch where we can put you in touch with your Relationship Manager.

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New to Isle of Man Bank?

Give us a call on 01624 637699.

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