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Notification of changes to Isle of Man Bank Limited
We intend to move the Isle of Man Bank business from its current legal entity, Isle of Man Bank Limited, to the Isle of Man branch of The Royal Bank of Scotland International Limited ("RBS International Limited"). Customer accounts will stay in the Isle of Man and there are no changes to account numbers or sort codes. There will be no changes to any of the products or services we offer.

What does this mean for you?

Business term loan

A loan that keeps pace with your changing business needs

Every business is different. Our business term loan lets every business organise their loan around their individual business needs.

Security may be required.

We give you the freedom to create a loan the way you want it - for any amount of borrowing and for virtually any purpose.

A business term loan can be tailored to fit your business requirements:

  • Interest rates – variable or fixed options
  • Repayments – Delay them at the start to improve your cashflow
  • Overpayments – make overpayments to reduce your loan amount

A business term loan is an ideal way to cater for changing business conditions.

A business term loan can be tailored to meet your individual requirements with a wide range of flexible options including:

  • Fixed rate - enjoy the peace of mind of fixed monthly repayments (Please note that an early repayment charge may apply if a fixed rate loan is repaid early during the fixed period)
  • Variable rate - linked to base rates (Rates can rise or fall)
  • Repayment holidays - improve your cashflow by making no loan repayments or repaying only interest for a fixed term after drawing down your loan
  • Repayment style - choose from capital and interest, capital only or interest only
  • Repayment frequency - pick the frequency that suits you from monthly, quarterly, half yearly and yearly
  • Staged drawdown - save on interest costs and enjoy lower initial payments
  • Make one-off repayments - use surplus cash to reduce interest charges and benefit your business

Loan repayment options

Capital and interest repayment holiday Make no payments (available at the beginning of and during the term of the loan). Alternatively, make no repayments for up to 12 months. Interest will continue to accrue while you exercise this option, and will be added to the loan. Following a capital and interest repayment holiday your repayment instalment(s) will be increased to include the element of capital and interest which would have been applied during the holiday period.
Capital repayment holiday Make no payment of capital for an agreed period. During the holiday period you will only pay interest on the loan. Following a capital repayment holiday your repayment installment(s) will be increased to include that element of capital which would have been applied during the holiday period.
Staged drawdown Draw down your loan in up to four stages over the first 12 months. Only pay interest on the outstanding balance.
Repayment frequency options Repayment schedules to suit your business. Choose from a range of repayment frequency options and tailor your repayments to match your cashflow.
Lump sum payments Make lump sum payments at any time. Choose to reduce the payment amount or loan term.

Your home or property may be repossessed if you do not keep up repayments on your mortgage

Get a quote

  • Call us on
    01624 637000

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