In banking news, Clarien Bank announced this week that it will be increasing its deposit/savings rates and adjusting its BMD$ base lending rate accordingly, having anticipated the US Federal Reserve rate change.
A spokesperson said: “Full details and an effective date will be declared in January 2018.
“In addition to increasing published board rates, the Bank will also be introducing a series of attractive promotional deposit products to provide its client base and the overall community with a variety of savings and investment vehicles to grow and save for the future.
“Clarien Lending clients will be advised via written notice of adjustments to their repayment requirements,” the spokesperson added.
Clients are encouraged to contact their Relationship Manager or Lender for additional information.