Clarien Bank Increase In Base Lending Rates
Effective December 1, 2022, Clarien will be “adjusting its Bermuda Dollar base lending rate by 50 basis points [0.50%] and the USD Prime base lending rate by 75 basis points [0.75%] following the US Federal Reserve rate increase on September 21, 2022.”
A spokesperson said, ““Clarien base lending rates will increase as follows:
| BMD$ | Increase from | Increase to |
| Personal Loans | 5.00% | 5.50% |
| Commercial Loans | 5.25% | 5.75% |
| USD$ | Increase from | Increase to |
| USD Prime | 5.50% | 6.25% |
“Clients will receive letter notices specifically detailing the change applicable to their loan. In certain cases the regularly scheduled loan payment will increase to ensure that the loan is repaid by the scheduled maturity date.
“Our team is available to answer your questions, provide additional information or discuss the terms of your loan. Please contact Clarien’s Service Centre on 441-296-6969 or servicecenter@clarienbank.com.
“Communication regarding the change will also be made available to internet banking clients via iBank.
“For additional information regarding Clarien Bank rates and fees, please visit clarienbank.com.”
