Commencing September 1, 2023, Clarien will be adjusting its Bermuda Dollar base lending rate and the Bank’s USD Prime base lending rate by a quarter of a percentage point (0.25%).  This change follows the US Federal Reserve rate increase of 25 basis points announced on July 26, 2023.

Clients will receive letter notices specifically detailing the change applicable to their loan, including when those changes will be applied to their loan in line with their individual loan agreement. 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 customer questions, provide additional information or discuss the terms of the 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.

Clarien base lending rates will increase as follows: