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Premier Arranged Overdrafts

A safety net for your Premier current account

Support with coronavirus (COVID-19)

Request up to £500 interest free on your arranged overdraft

If you have been financially impacted by coronavirus (COVID-19), you can request up to £500 interest free on your existing arranged overdraft, or up to your existing arranged overdraft limit if lower than £500.

The interest free period will take effect from the application date and be applied to your account for 3 months.

A buffer for your Premier 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 Premier current account customers, aged 18 or over. Subject to lending criteria.

Premier Select or Gold account customers

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

Change or remove your overdraft

Need to request an increase to 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

How do I apply for an arranged overdraft?

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Already a Premier Banking customer?

You can apply online today if you're registered for Online banking. Alternatively, get in touch with your Premier Relationship Manager to arrange an appointment.

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Not yet joined Premier Banking?

Simply give us a call on 01624 697727 and we will arrange an appointment with a Premier Relationship Manager at a time that suits you.

Lines open Monday to Friday 9am - 5pm.

Ready to apply?

Before you apply, we've outlined the eligibility for an arranged overdraft below, along with our terms and conditions so you can make sure it's the right option for you.

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 Premier Banking current account.
  • Have 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.

Lets get started...

To speed up your application for an arranged overdraft, we need to run through some quick questions with you. They'll only take a few minutes.

Are you an existing Premier Banking customer?
Please tell us if you already hold an Isle of Man Bank Premier account.
Do you use Online Banking?
To apply for an Arranged Overdraft online you must be registered for Online Banking.
What do you want to do today?
Please tell us if you want to apply for a new Arranged Overdraft, or change or remove and existing Arranged Overdraft.

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

As part of your application you'll be asked to input your new Arranged Overdraft limit:

  • If changing your Arranged Overdraft, please tell us what you want your total overdraft limit to be.
  • If removing your Arranged Overdraft, please input '0' to remove your existing limit.

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.

Register for Online Banking now

You can still apply today...

This is the Arranged Overdraft application for Premier Banking customers.

You can find out more about becoming a Premier Banking customer or applying for an Arranged Overdraft below.