Effective June 1st, 2022, Clarien will be adjusting its Bermuda Dollar base lending rate by 50 basis points (0.50%) following the US Federal Reserve rate increase earlier this month.
The Bermuda Dollar Base rate will increase as follows:
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Clients with Bermuda dollar loans will receive letter notices specifically detailing the change applicable to their loan. In certain cases the regular 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 firstname.lastname@example.org.
Communication regarding the change will also be made available to internet banking clients via iBank. Clarien has recently updated and increased Term Deposit rates and frequently reviews rates to ensure our customers receive competitive rates on both loan and deposit products.