Get rewarded for leaving your savings untouched
Why choose Premium Saver?
- Earn a monthly bonus (on balances between £25,000 and £1 million) if you leave your money untouched
- Exclusively available for current account customers, aged 16 and over
- Apply online in 10 minutes
- Top up your savings with Rounds Ups
In detail: Premium Saver
What's the interest rate?
No withdrawals made in month: bonus condition is met
Withdrawals made in month: bonus condition is not met
Can Isle of Man Bank change the interest rate?
How much interest could I earn?
Estimated balance after 12 months, based on a range of deposits
No withdrawals made in any month: bonus condition is met
£50 withdrawal made each month: bonus condition is not met
How do I open and manage my account?
- You must be aged 16 years or over to open an account.
- You can only have one Premium Saver account in your sole name, and only one Premium Saver account in joint names with another person.
- You can open your account in branch or online and manage your account in branch, online, by telephone and on the mobile app.
- No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.
- However, to earn the bonus rate of interest in each monthly bonus period, your account balance must be between £25,000 - £1,000,000 and you must not make any withdrawals in that month.
Can I withdraw money?
Yes, Premium Saver is an instant access savings account which means that you can access your money at any time. However if you make one or more withdrawals in a monthly bonus period, you will not earn the bonus for that month and your interest rate will be lower for that period.
You can withdraw money:
- in branch
- by transfer to any other account based in the UK (online, via telephone or the mobile app)
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. You can find out the current daily limits on this website or by contacting telephone banking.
Definitions
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).
Ready to apply?
Before you apply, we've outlined the eligibility for the account below, along with our terms and conditions so you can make sure it's the right account for you.
You can apply for a Premium Saver account if you are:
- Aged 16+ and permanently resident in the Isle of Man.
- Have an Isle of Man Bank current account.
Please review our important information
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.