Effective September 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 150 basis points (1.50%) following the US Federal Reserve rate increase on July 27, 2022.
Clarien base lending rates will increase as follows:
Clarien will adjust the interest rate applicable to its Overdraft facilities by 100 basis points (1.00%) as follows:
TERM DEPOSIT RATES
Clarien frequently reviews both loan and deposit products to ensure our customers receive competitive rates. On August 5th, Clarien increased its USD Premium Demand interest rate as follows:
USD PREMIUM DEMAND
For additional information regarding Clarien Bank rates and fees, please visit clarienbank.com.
Increases in rates are as outlined in the client lending agreement. The Bank will be issuing notices via postal mail to all lending clients regarding repayment details. Notices will also be available to view in your Clarien iBank account.
We continue to work with all of our clients on a regular basis to understand their current financial position. You are encouraged to contact your Lending Officer to discuss the changes to your repayment terms.
Thank you for entrusting Clarien with your lending needs.