Know what your savings will earn
Why choose Fixed Term Savings?
- Know in advance how much your savings will earn, helping you save for the future
- Choose a fixed term that suits you - from 3, 6, 9 or 12 months
- Start saving with balances from £5,000
Cash Management account
When you apply for a Fixed Term Savings account you'll need to have a Cash Management account so that we can pay you any interest you have earned, as well as your deposit when it has come to the end of its term.
To open a Cash Management account we may need to see confirmation of your identity and proof of your residential status.
Account name: Fixed Term Savings
What’s the interest rate?
Can Isle of Man Bank change the interest rate?
No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the Maturity Date.
How much interest could I earn?
How do I open and manage my account?
- You must be aged 16 years or over to open an account
- The minimum deposit is £5,000 or the currency equivalent (where a currency option is available).
- To find out how to open your account please visit your local branch or give us a call.
- You can not add money to the Fixed Term Savings after the Start Date.
- A deposit certificate will be sent to you within 14 working days confirming the details of your deposit.
- You will need to have a Cash Management account for the payment of interest and to manage your Fixed Term Savings; if you don’t have an account then we will open one for you.
- On the Maturity Date, your deposit and any interest earned will be paid into your Cash Management account.
- After the Maturity Date, if you no longer need the Cash Management account linked to your Fixed Term Savings, please advise us in writing to close the account.
AER: Stands for Annual Equivalent Rate. It shows you what the rate would be if the interest was paid and compounded each year.
Gross Rate: This means the interest rate you are paid without deduction of income tax.
p.a.: Per annum (per year).
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.
How to apply
Find your nearest Isle of Man Bank branch and arrange an appointment to apply for a Cash Management Account and Fixed Term Savings with us.
Give us a call on 01624 637000 and we'll be happy to help you apply for a Fixed Term Savings account.
Lines are open Monday to Tuesday 9am - 5pm, Wednesday 10am - 5pm and Thursday to Friday 9am - 5pm (except public holidays). Calls may be recorded.