Isle of Man Bank Personal Loan

Good:
Their staff are known to be friendly and helpful but they also offer online banking if you do not wish to visit a branch

Bad:
Higher interset rate compared to other high street banks

Verdict:
Not many options for loans on the Isle of Man - this bank is known to be friendly and helpful, interest rates are reasonable but not the cheapest

Isle of Man Bank offers personal loans up to £25,000 that you can use for almost any purpose. You can have the loan for up to 10 years if you are applying for a home improvement loan over £2,500. This loan is only available to Isle of Man Bank current customers so look around elsewhere for another loan if this doesn't apply to you.

You can only apply for this loan either in your local branch or via telephone (01624 637 000). Click the following link to find your local branch http://www.iombank.com/iom/personal-banking/nearest-branch.ashx. If you apply over the phone, please ensure you have your banking information handy. They will run through the application (if you are including income from another bank, you must take bank statements with you) which can take up to 15 minutes and the customer advisor will give you an "agreement in principle" until they have fully assessed your application. They will then contact you as soon as possible letting you know their final decision. The process will be similar in the branch but they will be able to let you know a final decision before you leave. The money will then be transferred into your Isle of Man account.

Their staff are known to be very polite and friendly, and tend to respond to queries and complaints quickly. Isle of Man Bank's interest rates are slightly higher than other banks so have a shop around before you apply. They also offer online banking which makes it easy to manage your accounts all in one place.