To apply you must be 18+ and resident in Isle of Man. An arranged overdraft is available to those who meet certain conditions. The minimum overdraft limit you can apply for is £250.
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.
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.
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.
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.
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.
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.
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.
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.
